Third Avenue Small Cap Value Fund Institutional Class (TASCX)

Overview

The fund is dedicated to achieving its investment objective by focusing on acquiring equity securities, which include common stocks and convertible securities, of financially robust small companies at a price below what is considered by the Adviser to be their intrinsic value. The advisement strategy involves investing a minimum of 80% of the fund's net assets (in addition to any amounts borrowed for investment purposes) in securities of companies deemed small. This approach underscores a dual investment focus, encompassing both domestic and foreign securities, to diversify investment avenues and potential returns for investors.

Products and Services

• Equity Securities of Small Companies

This product involves investing in common stocks and convertible securities of small companies. By focusing on companies that are considered well-financed but whose securities are priced below their intrinsic value, the fund aims to capitalize on market inefficiencies to generate returns for its investors. This strategy is rooted in rigorous analysis to determine intrinsic value, ensuring investments are made in companies with solid financial foundations and growth prospects.

• Domestic and Foreign Securities Investment

Beyond focusing solely on domestic markets, the fund expands its investment horizon to include foreign securities, thereby offering diversification across geographies. This approach enables the fund to tap into opportunities in various markets worldwide, potentially reducing risk through geographic diversification and exploiting potential growth in emerging and established markets outside the United States. The inclusion of foreign securities broadens the potential investment landscape, offering access to a wider array of companies fitting the fund's investment criteria of being small and well-financed yet undervalued.