Third Avenue International Value Fund (TAVIX)

Posted by: Pro

Updated:
12.06.07
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Description:

From the Third Avenue website.

"Third Avenue International Value Fund seeks long-term capital appreciation by investing in the equity securities of well-financed, well-managed foreign companies believed to be priced below their intrinsic values."

The $2.4 billion dollar fund run by Amit Wadhwaney was showcased in the February 12, 2007 Barron's.

"He's been with Third Avenue Funds since 1999 (this is his second stint there), and has steered Third Avenue International Value since its December 2001 inception. Through Jan. 31, the fund had risen 21.15% a year, on average. In 2006, Wadhwaney, now 53 years old, was a top contender for fund-rater Morningstar's International Stock Manager of the Year.

Like other Third Avenue investors, Wadhwaney seeks "safe" and "understandable" companies selling at significant discounts to intrinsic value, with rich assets, strong finances and good management.

A quick look at the accompanying table shows that his biggest holdings are unusual among international funds that are choc-abloc with multinational brands."

The fund received 3 stars from Morningstar.

Current Returns:

1-Year: 9.65%
3-Year: 18.20%
5-Year: 21.39%