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Focused Credit Fund

Third Avenue’s Focused Credit Fund is based on the premise that excess returns can be achieved more consistently through bottom-up, fundamental analysis and an ability to invest across the capital structure, focusing capital in our highest-conviction ideas. Adhering to the same disciplined value approach as all Third  Avenue Funds, our experienced credit analysts' rigorous research process seeks to identify the best current credit opportunities that should provide investors with attractive risk-adjusted returns over time.

Please click here for the Prospectus.

Objective

  • Seeks total return from a combination of capital appreciation and interest income, by focusing capital in our highest conviction ideas across the credit spectrum

Opportunity

  • Increased inefficiencies in the credit markets provide attractive opportunities for experienced “credit pickers” like Third Avenue Management to generate meaningful returns
  • Third Avenue has over 25 years of distressed and credit investment experience throughout many different periods of economic uncertainty and high levels of default


Differentiating Features

  • Focus capital in our highest conviction ideas, based on extremely thorough research; under normal circumstances anticipates holding securities from up to 60 issuers, allowing for more proactive monitoring to maximize value and reduce risk
  • Opportunistic, go anywhere mandate allows us to invest in a wide range of credit securities, including bank loans, high-yield and convertible securities, that have the best risk-adjusted return potential
  • Event-driven strategy that requires a catalyst to drive value higher while minimizing downside risk
  • No distraction from legacy positions or troubled portfolios


Investment Team

  • Eight dedicated investment professionals, including a portfolio manager with 20 years experience
  • Credit analysts have an average of 12 years investment experience in distressed and high-yield credit investing, as well as financial restructuring
  • The additional 21 investment professionals on Third Avenue’s broader investment team, many of whom have extensive credit experience, also serve as valuable resources