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FIND ANOTHER FUND MANAGER OR SUB-ADVISOR
Brookfield Investment Management Inc.
Manulife Mutual Funds
Portland Investment Counsel
Third Avenue Management
Safe and cheap investing†
Third Avenue Management LLC is a New York-based investment advisory firm founded in 1986 by legendary value investor Marty Whitman. The firm currently manages four highly-regarded retail mutual funds for U.S. investors only – Third Avenue Value Fund, Small-Cap Value Fund, Real Estate Value Fund and International Value Fund.
† "Safe" signifies that, in Third Avenue’s view, the companies have strong finances, competent management and an understandable business. "Cheap" signifies that, in Third Avenue’s view, the companies’ securities are selling for significantly less than what a private buyer might pay for control of the business.
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In addition, Third Avenue is a sub-advisor to U.S. and non-U.S. funds, manages separate accounts for institutional and high net worth clients, and offers three alternative investment products. In total, Third Avenue manages more than US$24 billion of investors' wealth.
AIC Global Real Estate Fund is suitable for investors seeking long-term capital appreciation by investing in the securities of well-financed, well-managed companies in the real estate or related industries believed to be priced below their intrinsic values.
AIC Global Focused Fund is suitable for investors seeking capital growth over the long term through focused exposure to equity securities throughout the world.
AIC Global Focused Fund comprises up to 20% of the AIC Managed Solutions Value Leaders Portfolios.
Distinguishing Features
- AIC Global Focused Fund has the flexibility to invest in companies in any country, industry and market capitalization.
- Concentrated portfolio – typically not more than 20 holdings.
- Third Avenue practices a disciplined "safe and cheap"* value investment philosophy, conducting a thorough, bottom-up analysis to identify those companies that meet the criteria.
- The firm's unique research approach leads to finding businesses that may not be covered by Wall Street.
- All securities, equities or credits are analyzed from a creditor's viewpoint.
- The firm's due diligence focuses on a company's balance sheet rather than earnings.
- Holdings are purchased at a significant discount to intrinsic value.
News
Living on Chinese stocks,
Fortune, October 2 2009
Marty Whitman, of the Third Avenue Value Fund is hunting for deep values - and he sees them in Hong Kong. Read article»
Looking for value in equities
Ian Lapey on BNN, says he is still seeing attractively valued stocks and discusses a few holdings.
Watch interview»
Update on real estate stocks
Michael Winer, on BNN, discusses the recent gains in real estate and the sector’s outlook going forward.
Watch interview»
Wealthtrack with Consuelo Mack
Marty Whitman discusses the opportunity of a lifetime for investors. Watch interview»
Real estate stocks
Michael Winer, on BNN, discusses the opportunities in real estate and says now is a great time to be in real estate securities. Watch interview»
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