Third Avenue International Real Estate Value Fund Celebrates 10-Year Anniversary

Third Avenue Management LLC ("the Firm" or "Third Avenue"), a United States-based investment adviser and leading value investing firm, is pleased to announce that the Third Avenue International Real Estate Value Fund ("the Fund"; NASDAQ: REIFX) recently celebrated its 10-year anniversary.

Since making its first investments, the Fund has generated annualized returns exceeding its Benchmark¹ by more than 425 basis points per year². Alongside these results, the Fund has received a 5-Star overall rating³ from Morningstar (based on risk-adjusted returns out of 179 funds in the Global Real Estate category as of April 30, 2024) and been recognized with a Silver Medalist rating⁴.

The Fund's Portfolio Manager, Quentin Velleley, CFA, established the strategy in 2014 with the view that a rigorous, concentrated, and value-oriented investing approach could produce attractive risk-adjusted returns in the expansive universe of international listed real estate. The Fund’s specific focus on long-term, value-oriented opportunities provides a differentiated real estate exposure that can potentially benefit from pricing inefficiencies and uncorrelated returns often associated with international market investing.

"We are pleased with the International Real Estate Fund’s performance over the past decade and are grateful for the support our shareholders have provided during that time,” said Quentin Velleley. “We also believe that the Fund’s distinct style, the significant price-to-value disconnects in international real estate securities, and the limited number of competing strategies continue to provide an exciting backdrop for the decade ahead.”

To learn more about the Third Avenue International Real Estate Value Fund, please visit the strategy overview page at https://www.thirdave.com/strategy-reifx.

About Third Avenue Management

Third Avenue Management is a New York City-based investment adviser founded in 1986 by legendary value investor Martin J. Whitman. For more than 35 years, the Firm has consistently pursued a value approach to investing by focusing on the company’s balance sheet, the value of its underlying assets, 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 (NYSE: AMG) and has $1.5 billion in assets under management across its five core strategies – Global Value, U.S. Small-Cap Value, Real Estate Value, International Real Estate, and International Value – which are available to investors through Mutual Funds, UCITS, Separate Accounts, and Sub-Advisory Arrangements.