Third Avenue Real Estate Value Fund Named Best Global Real Estate Fund by LSEG Lipper
The Awards Recognize the Fund for Consistently Strong Risk-Adjusted Performance Relative to its Peers over Three and Five Years
The 2025 Distinction Marks the Team's Seventh Time Receiving a Lipper Award in the Category
Third Avenue Management LLC ("Third Avenue") announced today that the Third Avenue Real Estate Value Fund ("the Real Estate Value Fund" or "the Fund")1 was named the Best Global Real Estate Fund Over Three Years and the Best Global Real Estate Fund Over Five Years at the 2025 LSEG Lipper Funds Awards in the United States.
The Lipper Fund Awards have been synonymous with strong risk-adjusted performance for more than three decades and focus the investment world on top-performing funds. The 2025 Awards were presented for the Real Estate Value Fund's performance over the three-year and five-year period ended December 31, 20242 and mark the seventh time the Third Avenue Real Estate team has been recognized by LSEG Lipper in the Best Global Real Estate Fund category3.
"We are honored to receive recognition from LSEG Lipper for delivering sector-leading results to the investors in the Third Avenue Real Estate Value Fund," said Ryan Dobratz, Co-Portfolio Manager of the Fund. "Receiving a Lipper Award for the seventh time is also a testament to the durability of Third Avenue's Real Estate strategy and the robust process we have developed over two decades."
The Real Estate Value Fund, a United States-based mutual fund, has sought out value-oriented opportunities in listed real estate for more than 25 years. During that span, the Fund has also offered exposure to not only real estate investment trusts ("REITs"), but real estate operating companies ("REOCs") involved with commercial, residential, and real estate services globally.
"The Fund's long-term results reflect Third Avenue's unique approach to listed real estate," added Jason Wolf, Co-Portfolio Manager of the Fund. "As we've done since 1998, we will continue to identify and invest in well-capitalized and well-managed enterprises that trade at a discount to our estimate of net-asset value—irrespective of whether they are included in a benchmark. We believe such a combination is the key to generating superior long-term results."
Otto Christian Kober, Head of Lipper Research, LSEG Data & Analytics noted, "There is no way to have foreseen the range of fundamental and non-financial factors that impacted the markets these past few years. We applaud the 2025 LSEG Lipper Fund Award winners such as Third Avenue Management for delivering outperformance and the accompanying comfort of consistency to investors' portfolios through a cross-current of global market disruptions."
The LSEG Lipper Fund Awards were presented to the United States winners in New York City on March 13, 2025.
Fund Awards:
- LSEG Lipper Fund Awards United States 2025 Winner, Third Avenue Real Estate Value Fund; Best Global Real Estate Fund Over Three Years2.
- LSEG Lipper Fund Awards United States 2025 Winner, Third Avenue Real Estate Value Fund; Best Global Real Estate Fund Over Five Years2.
About LSEG Lipper Fund Awards
For more than 30 years and in over 17 countries worldwide, the highly-respected LSEG Lipper Awards have honored funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers and focus the investment world on top-funds. The merit of the winners is based on entirely objective, quantitative criteria. This coupled with the unmatched depth of fund data, results in a unique level of prestige and ensures the award has lasting value. Renowned fund data and proprietary methodology is the foundation of this prestigious award qualification, recognizing excellence in fund management. Find out more at www.lipperfundawards.com.
1 - Refers to the Third Avenue Real Estate Value Fund; Z Share Class (ISIN: US8841168318).
2 - The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. The 2025 LSEG Lipper Fund Awards for the Best Global Real Estate Fund Over Three Years and Best Global Real Estate Fund Over Five Years were based upon on a review of 135 and 131 qualified shares classes that were eligible in the United States, respectively. For more information, see lipperfundawards.com. Although LSEG makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, their accuracy is not guaranteed by LSEG Lipper.
3 - For past LSEG Lipper Fund Awards results, please visit: https://www.lipperfundawards.com/
About Third Avenue Management
Third Avenue Management is a New York City-based investment adviser founded by legendary value investor Martin J. Whitman. For nearly four decades, the Firm has consistently pursued a Balanced Approach to value investing by focusing on the strength of a company's balance sheet, the discounted price of its securities, and the ability of the enterprise to increase its corporate net worth over time. Today, the Firm is partnered with AMG and has more than $1.4 billion in assets under management across its five core strategies (Global Value, Small-Cap Value, Real Estate Value, International Real Estate, and International Value), which are available to investors through Mutual Funds, SMAs, UMAs, and UCITS Funds.
Website: https://www.thirdave.com/strategy-tarex
Tickers: NASDAQ:TARZX ; NASDAQ:TAREX ; NASDAQ:TVRVX ; NYSE:AMG.
The fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 800-443-1021 or visiting www.thirdave.com. Read it carefully before investing. Distributor of Third Avenue Funds: Foreside Fund Services, LLC.
Fund Risks: In addition to general market conditions, the value of the Fund will be affected by the strength of the real estate markets. Factors that could affect the value of the Fund's holdings include the following: overbuilding and increased competition, increases in property taxes and operating expenses, declines in the value of real estate, lack of availability of equity and debt financing to refinance maturing debt, vacancies due to economic conditions and tenant bankruptcies, losses due to costs resulting from environmental contamination and its related clean-up, changes in interest rates, changes in zoning laws, casualty or condemnation losses, variations in rental income, changes in neighborhood values, and functional obsolescence and appeal of properties to tenants. For a full disclosure of principal investment risks, please refer to the Fund's Prospectus.
Past performance does not guarantee future results. Mutual fund investing involves risk. Principal loss is possible.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250314544532/en/
For Press Related inquires related to Third Avenue Management:
Gagnier Communications
Dan Gagnier, +1 646-569-5897
[email protected]