Third Avenue International Value Fund (TVIVX)

Third Avenue International Value Fund (TVIVX) is an international stock mutual fund. This equity mutual fund invests in undervalued non-U.S. companies with small- and/or mid-capitalization.

Third Avenue International Value Fund (Ticker: TVIVX)

The investment objective of Third Avenue International Value fund is to seek long-term capital growth. The mutual fund utilizes its assets to purchase a portfolio of common stocks and convertible securities, of well-financed companies (high quality assets and low levels of liabilities) located outside of the United States. It invests primarily in developed countries. It is non-diversified.

Fund Profile

• Fund Inception Date: 12/30/2009
• Ticker Symbol: TVIVX
• CUSIP: 884116864
• Beta (3yr): 0.84
• Rank in category (YTD): 42%
• Category: Foreign Small/ Mid Value
• Distribution: 1.34%
• Capital Gains: 0%
• Expense Ratio: 1.65%
• Net Assets: $ 1.19 billion
• Number of Years Up: 1 year
• Number of Years Down: 1 year
• Annual Turnover Rate: 24%

Updated on 12/17/2012

This Third Avenue fund has total net assets of $1.6119 billion. It is currently managed by Matthew Fine. He started managing the fund since December 2011. Its annual expense ratio is 1.65% which is slightly higher than the average fee in the category (1.37%). The 12b1 fee is 0.25%, but there is no front-end sales load fee. The shares price is $16.32 (12/5/2012).

Best No Load World Stock Mutual Funds

This equity mutual fund has YTD return of 14.91%. This best foreign small/ mid value fund has yield of 1.34% for the past 12 months. The most recent dividend was distributed on December 2011, 2012 in the amount of $0.22. This fund has 3-stars and Silver rating from Morningstar. Based on load adjusted return, the fund has returned 14.03% over the past 1-year, and 10.15% over the past 10-year. The yearly performance of this fund since its inception in 2009 is as below:

• Year 2010: 10.85%
• Year 2011: - 15.49%

There are 46 brokerages that you can buy this fund from. The brokers are Schwab Retail, JP Morgan, Scottrade Load, Ameriprise Brokerage, Vanguard NTF, Fidelity Retail Funds Network, Raymond James, etc. If you are interested you invest, you can start with a minimum initial investment of $2,500 for brokerage or retirement account. The minimum subsequent investment is $1,000 for brokerage account and $200 for retirement account. The CUSIP of the Institutional class (TAVIX) is 884116500.

The top 10 stock holdings as of September 2012 are WBL Corp, Ltd (9.4%), Netia SA (6.2%), Weyerhaeuser Co (4.3%), Taylor Wimpey PLC (4.1%), Sanofi (3.9%), White Mountains Insurance Group Ltd (3.4%), Daiwa Securities Group Inc (3.3%), Leucadia National Corp (3.1%), Munich Re (3.0%) and Allianz SE (2.8%). The top 3 countries are Singapore (10.7%), Japan (10.3%) and United States (9.7%).

According to the fund’s prospectus, the investment risks are Market risk, foreign investment risk, management risk, investing-style risk, currency risk, etc.

Disclosure: No Position

Other international stock funds:

• Thornburg International Value Fund
• Best Foreign Small and Mid Cap Stock Mutual Funds