Fact sheet: Third Avenue Value

Fund information
Fund name
Third Avenue Value Investor
Fund manager company
Third Avenue Management
Fund type
No data available.
Fund managers
  • Martin Whitmansince 01/11/1990
  • Ian Lapeysince 31/07/2009
Fund objective
To achieve Long-term capital appreciation with limited investment risk.
Benchmark
No data available.
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
15.7%
1 Year rank in sector
124/473
Sector
FO Equity - International
Yield
-
Fund size
£1,190m
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.
104
Top in this sector
Fund name1 Year
Heptagon Kprnk GblAlCpEq54%
Sanlam Prv Wlt Glbl HgQul42.1%
SKAGEN Focus40.7%
T. Rowe Price GblFcsGrEq39.9%
Veritas Global Equity Income38.1%
...more in FO Equity - International

Performance snapshot

Holdings snapshot

  • USA67.9%
    Money Market6.8%
    Canada5.7%
    UK5.5%
    Hong Kong4.7%
  • Banks10.7%
    Financial Services9.5%
    Conglomerates9.3%
    Oil & Gas8.3%
    Insurance7.2%
  • US Equities67.9%
    Cash & Cash Equivalents6.8%
    Canadian Equities5.7%
    UK Equities5.5%
    Hong Kong Equities4.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.2%8.5%7.8%15.7%7.8%57.7%
Sector0.6%7.5%8.1%11.3%19%61.2%
Rank within sector386 / 495151 / 490172 / 485124 / 473310 / 375190 / 288
Quartile4th2nd2nd2nd4th3rd
Calendar performance
 YTD - 20162015201420132012
Fund7.8%-7.3%5%19.2%26.1%
Sector5.7%0.7%6%21.3%12.7%
Rank within sector134 / 479411 / 433205 / 390246 / 3444 / 298
Quartile2nd4th3rd3rd1st
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.
-4.06
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.
1.19
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.
0.04
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%.
13.56
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.
7
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.
-0.43
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.
0.74
Price movement
52 week high55.09
52 week low40.44
Current bid price-
Current offer price-
Current mid price51.8
Region
1USA67.9%
2Money Market6.8%
3Canada5.7%
4UK5.5%
5Hong Kong4.7%
6International4.3%
7France3.6%
8Debt1.5%
Industry sector
1Banks10.7%
2Financial Services9.5%
3Conglomerates9.3%
4Oil & Gas8.3%
5Insurance7.2%
6Consumer Products6.8%
7Money Market6.8%
8Forest Products6.1%
9Property5.9%
Asset type
1US Equities67.9%
2Cash & Cash Equivalents6.8%
3Canadian Equities5.7%
4UK Equities5.5%
5Hong Kong Equities4.7%
6International Equities4.3%
7French Equities3.6%
8Global Fixed Interest1.5%
Individual holdings
1WEYERHAEUSER CO6%
2BANK OF NEW YORK MELLON CORP5.8%
3COMERICA INC5.8%
4WHITE MOUNTAINS INSURANCE GROUP3.8%
5BROOKFIELD ASSET MANAGEMENT INC3.7%
6PNC FINANCIAL SERVICES GROUP3.7%
7TOTAL SA3.6%
8CAVCO INDUSTRIES INC3.5%
9CK HUTCHISON HLDGS LTD3.4%
Management
Fund manager group
Third Avenue Management
Fund manager company
Third Avenue Management
Fund type
No data available.
Fund objective
To achieve Long-term capital appreciation with limited investment risk.
Benchmark
No data available.
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Martin Whitman01/11/1990Martin Whitman has 59 Years Experience and 35 years with Firm. Martin Whitman is the Founder of Third Avenue Management LLC and he is an MA from New School of Social Research; BA, Syracuse University.
Ian Lapey31/07/2009Mr. Ian Lapey is lead portfolio manager of the flagship Third Avenue Value Fund. He is also co-manager of the Third Avenue Value Fund UCITS for offshore investors. He joined Third Avenue in 2001. Before he joined Third Avenue, Mr. Lapey analyzed housing and furniture stocks at Credit Suisse First Boston and Salomon Brothers. Earlier in his career he was a financial analyst with Revlon and an accountant with Ernst & Young. Mr. Lapey often works closely with the management teams of companies in which Third Avenue is invested. He served on the Official Committee of Unsecured Creditors of Haynes International during its reorganization in 2004 and sat on the Board of Directors of Canfor, a Canadian forest products company, from 2007-2008. Mr. Lapey holds an M.B.A. from New York University's Stern School of Business, an M.S. in Accounting from Northeastern University's Graduate School of Professional Accounting and a B.A. in Economics from Williams College.
Compliance
Not Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Offshore, United States
Third Avenue Value Inst
Initial charge-
Annual charge0.9%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price51.9
CurrencyUSD
Price updated28/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFIX9
Third Avenue Value Investor
Initial charge-
Annual charge0.9%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price51.8
CurrencyUSD
Price updated28/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeI8O6
Data provided by

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