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Third Avenue Value Fund Q3 2019 Letter

About: Third Avenue Value Fund Institutional Class Inst (TAVFX), Includes: BAMXF, BKRIF, BKRIY, BMWYY, BZZUF, BZZUY, CKHUF, CKHUY, HA, HCC, IFSPF, LEN, LEN.B, LUNMF, TDW
by: Fund Letters
Fund Letters
Fund Holdings

Our flagship mutual fund's high conviction strategy seeks to invest in undervalued securities across industries, regions and market capitalizations. Our fundamental analysis seeks to identify stocks trading below their intrinsic value.

For the three months ended September 30th, 2019, the Third Avenue Value Fund (the “Fund”) returned (9.93%), compared to the MSCI World Index, which returned 0.66%.

The escalation of the U.S. and China trade war during recent quarters has, broadly speaking, been a substantial headwind to Fund performance.

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