A fund once led by an investing great known for finding opportunities in distressed assets is beating the market — but with a somewhat different focus. The Third Avenue Value Fund outperformed the S & P 500 in 2022, rising 11.2% while the broad-market index shed 19.4%. The fund is crushing the S & P 500 once again in 2023 — up 15% versus the index's roughly 5.4% gain — as the market enters its third month of what's shaping up to be another volatile year.
mountain The fund outperforms the S & P 500 The fund, which has a fee of 1.45% and minimum initial investment of $2,500 for its investor class, moved increasingly away from distressed assets as a low interest rate environment chilled the market. Instead, the three-decade-old fund's leadership is searching around the globe for cheap assets that others have overlooked.
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