Fund Research and Analysis

by Janet Yang, CFA
A new manager has joined Third Avenue Small-Cap Value.On June 10, 2014, Third Avenue announced that Robert "Chip" Rewey had joined the firm. Rewey's main charge will be as lead manager of the firm's flagship offering, Third Avenue Value TAVFX. The firm   Read more 

Process Pillar:Positive

The fund is managed in the style long exercised by value manager and fund family founder Marty Whitman, whose stock-picking discipline is guided by his "safe and cheap" mantra. To lead fund managers   Read more 

Performance Pillar:Negative

A number of performance disappointments in recent years have taken their toll on this fund's long-term performance. Since Curtis Jensen took control of the fund in 2001, its annualized 7.2% gain through   Read more 

People Pillar:Neutral

On June 10, 2014, Third Avenue announced that Robert "Chip" Rewey had joined Curtis Jensen as a co-lead manager on this fund (Rewey's main charge will be running Third Avenue Value, where he is the sole lead manager). Jensen's execution of this fund's   Read more 

Price Pillar:Negative

At 1.13%, this fund's expense ratio is above average among institutional small-cap offerings. This expense ratio has risen slightly since the fund's net-asset peak in mid-2007, when its expense ratio   Read more 

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This Expensive Fund May Be Worth It 
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