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Includes detailed analysis of Third Avenue Real Estate Value Fund's positions in FPH, LEN.
Through the first half of the year,the Fund generated a return of -3.50% (after fees) versus +0.92% (before fees) for the Fund's most relevant benchmark, the FTSE EPRA NAREIT Developed Index.
In Fund Management's view, a superior gauge of performance is the Fund's long-term results where it has earned an annualized return of +10.70% since its inception in 1998.