Third Avenue Focused Credit Fund Investor Class (TFCVX)

12.06
Net Asset Value
+0.25%
1 Day
+7.49%
Year-to-Date
Overall Morningstar Rating
High yield bond
Style or Category
No Load
Sales Expenses
1.16%
Expense Ratio
High
Morningstar Risk Rating™
Investment Objective The investment seeks long-term total return, which may include investment returns from a combination of sources including capital appreciation, fees and interest income. The fund invests at least 80% of its net assets in bonds and other types of credit instruments. It intends to invest a substantial amount of its assets in credit instruments that are rated below investment grade by some or all relevant independent rating agencies. The fund may have significant investments in distressed and defaulted securities and intends to focus on a relatively small number of issuers. It is non-diversified.

Performance

1 month-0.33% 3 years+11.53%
3 months+4.17% 5 years--
1 year+17.31% Since inception+12.58%
Data through --

Peer Comparisonvs. High yield bond

 TFCVXCategory
Performance 5-yr return--+12.57%
Expense ratio1.16%1.13%
Risk 5 year sharpe ratio--1.79
Net assets$3.5B$1.7B
Average market cap$505.2M$12.8B
Average P/E--16.7
Portfolio turnover58%58%

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Fund Management and Purchase Info

Fund familyThird Avenue
Fund manager & tenureThomas LaPointe / 3 Years
Minimal initial investment$2,500.00
Minimum IRA investment$2,500.00

Holdings

Fixed income78.54%
Cash16.47%
U.S. stock2.58%
Other1.24%
International stock1.16%
Top 5 Sectors
Portfolio weighting
Financial service 76.21%
Media 23.79%
Business service 0.00%
Consumer goods 0.00%
Consumer service 0.00%
Top 10 Holdings
Portfolio weighting
-- Lehman Brothers Inc Sipa Claim 34.90%
-- Clear Channel Comms 14%4.64%
-- Engy Future Inter Hldg Co Ll 144A 11.25%3.25%
-- Affinion Grp Hldgs 144A 13.75%3.13%
-- Sun Prods 144A 7.75%2.83%
-- First Data 11.75%2.45%
-- Vertellus Specialties 144A 9.375%2.37%
-- First Data Hldgs 144A 14.5%2.32%
-- Altegrity 144A 12%2.31%
-- Reichhold Inds 144A 9%1.99%

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