- Third Avenue Management LLC offers its services to private and institutional clients and is partially owned by Affiliated Managers Group, a publicly-traded asset management firm holding company.
- The Third Avenue Small-Cap Value Fund rose 24.04% during the fourth quarter of 2020 vs. a 33.36% rise for the Fund’s most relevant benchmark, the Russell 2000 Value Index.
- The Fund’s strong absolute performance in the quarter was led by two of its largest positions, engineering and construction company MYR Group (up 61%) and technology auto supplier Visteon Corporation (up 81%)..
- Fund Management added a new investment in ProAssuranceCorporation to the portfolio during the quarter and eliminatedtwo positions, Argan and Carter Bankshares.
For further details see:
Third Avenue Small-Cap Value Fund Portfolio Manager Commentary Q4 2020