Fact sheet: Third Avenue Sm Cap Val

Fund information
Fund name
Third Avenue Small Cap Value A1 Acc USD
Fund manager company
Third Avenue Management
Fund type
OEIC
Fund managers
  • Tim Buisince 01/10/2012
  • Curtis Jensensince 31/03/2009
  • Evan Strainsince 01/10/2012
  • Charles Pagesince 01/10/2012
Fund objective
To ensure long-term capital appreciation with limited investment risk.
Benchmark
  • No Specified Index
Investment style
Value
Investment method
Shares
Quick stats
1 Year return
14.2%
1 Year rank in sector
126/472
Sector
FO Equity - International
Yield
-
Fund size
£303m (£451m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
101
Top in this sector
Fund name1 Year
Heptagon Kprnk GblAlCpEq51.9%
Sanlam Prv Wlt Glbl HgQul42.3%
SKAGEN Focus38%
T. Rowe Price GblFcsGrEq37.7%
Veritas Global Equity Income36.1%
...more in FO Equity - International

Performance snapshot

Holdings snapshot

  • USA89.3%
    Money Market8.8%
    UK1%
    Canada0.9%
  • Industrials21.4%
    Banks11.7%
    Cash & Cash Equivalents10.7%
    Property Shares6.7%
    Information Technology6.2%
  • US Equities89.3%
    Money Market8.8%
    UK Equities1%
    Canadian Equities0.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.4%10.6%12.2%14.2%13.4%68.3%
Sector0.2%8.5%7.5%9%18.5%60.4%
Rank within sector370 / 494107 / 48991 / 484126 / 472252 / 375132 / 288
Quartile3rd1st1st2nd3rd2nd
Calendar performance
 YTD - 20162015201420132012
Fund12.7%-7.2%3.5%26.1%14.4%
Sector5.3%0.7%6%21.3%12.7%
Rank within sector78 / 478409 / 433251 / 390106 / 344120 / 298
Quartile1st4th3rd2nd2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-0.66
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.99
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.21
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
12.96
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
8.5
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.12
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.57
Price movement
52 week high51.08
52 week low39.63
Current bid price-
Current offer price-
Current mid price50.21
Region
1USA89.3%
2Money Market8.8%
3UK1%
4Canada0.9%
Industry sector
1Industrials21.4%
2Banks11.7%
3Cash & Cash Equivalents10.7%
4Property Shares6.7%
5Information Technology6.2%
6Automotive5.9%
7Electronic & Electrical Equipment5.7%
8Consumer Products5.3%
9Software3.4%
Asset type
1US Equities89.3%
2Money Market8.8%
3UK Equities1%
4Canadian Equities0.9%
Individual holdings
1COMMERCE BANCSHARES INC2.6%
2MULTI-COLOR CORP2.5%
3ICF INTERNATIONAL INC2.4%
4WCI COMMUNITIES INC2.4%
5CUBIC CORP2.3%
6FTI CONSULTING INC2.3%
7ALAMO GROUP INC2.1%
8SOUTHSIDE BANCSHARES INC2.1%
9UMB FINANCIAL CORP2.1%
Management
Fund manager group
Third Avenue Management
Fund manager company
Third Avenue Management
Fund type
OEIC
Fund objective
To ensure long-term capital appreciation with limited investment risk.
Benchmark
  • No Specified Index
Investment style
Value
Investment method
Shares
Fund managers
NameSinceBiography
Tim Bui01/10/2012Mr. Tim Bui is a portfolio manager for the Third Avenue Small-Cap Value Fund. He focuses his research on smaller capitalization companies across industries, with particular expertise in energy, basic materials, industrials and financials. With three decades of experience as an analyst and portfolio manager, he joined Third Avenue in 2012. Previously, Mr. Bui had been with Passiko Investments, a Boston-based high net worth wealth management firm that he owned and founded. Prior to that, Mr. Bui served as portfolio manager at Stark Investments, where he co-managed a long-short U.S. equity fund. He was also a portfolio manager and analyst at Putnam Investments, where he covered several industry sectors including energy, basic materials, industrials, financials and utilities for Putnam's small-mid cap funds. Earlier in his career, Mr. Bui worked in Senior Research roles at PPM America, Ariel Capital Management, USAA Investment Management, the University of Texas Investment Office and the Employees Retirement System of Texas. Mr. Bui holds a BA in Finance and an MBA from the University of Texas at Austin.
Curtis Jensen31/03/2009Curtis Jensen has 25 Years of Experience and 14 years with Firm. He is an MBA from Yale School of Management; BA, Williams College.
Evan Strain01/10/2012Mr. Evan Strain conducts original and supportive fundamental research for Third Avenue's small-cap strategy. He joined Third Avenue in 2011. Previously, Mr. Strain was an Associate with Dorchester Management, a value-oriented hedge fund. Prior to that, he held internship positions at Merrill Lynch, RBC and Brittany Capital, a boutique investment bank. Mr. Strain holds a B.S. in Finance and Accounting from New York University's Stern School of Business. It was during his time at NYU that he first studied and became attracted to Marty Whitman's investment philosophy. Mr. Strain is a member of the New York Society of Security Analysts.
Charles Page01/10/2012Mr. Charles Page is a portfolio manager for the Third Avenue Small-Cap Value Fund. He analyzes small-cap securities for Third Avenue. He joined the firm in 2006. Mr. Page was a small-cap value analyst with Citizens Advisers, a socially responsible investment firm where he covered a broad range of stocks with an emphasis on the financial, consumer, industrial and technology sectors. At Citizens, Mr. Page first read Marty Whitman's books and adopted the creditor's perspective in his equity analysis. Earlier in his career he helped cover technology companies at Robertson Stephens. Mr. Page has an M.B.A. from MIT Sloan School of Management and a B.A. in Economics and a B.S. in Earth Systems from Stanford University. He is a member of the New York Society of Security Analysts.
Compliance
Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Belgium, Switzerland, United Kingdom, Ireland, Luxembourg, Offshore, Singapore
Third Avenue Small Cap Value A1 Acc USD
Initial charge-
Annual charge1.6%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price50.21
CurrencyUSD
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFUG8
Third Avenue Small Cap Value A2 Dis GBP
Initial charge-
Annual charge1.6%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFUG9
Third Avenue Small Cap Value A3 Acc EUR
Initial charge-
Annual charge1.6%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFUH0
Third Avenue Small Cap Value A4 USD
Initial charge-
Annual charge1.1%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price33.155
CurrencyUSD
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0M2Z
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