March 15, 2023
Global Value

Matthew Fine, Portfolio Manager of the Third Avenue Value Fund featured in CNBC

Key takeaways Include:

  • Recent significant outperformance when compared to benchmark and broader market
  • “Go where the opportunities are”: Matthew is finding value overseas in places such as the United Kingdom where the Fund had no exposure a year prior and now sits around 10%.  Matthew also points to industries such as copper noting the demand has increased while the raw material has grown more scarce.  The Fund’s U.S. exposure is under 25% as of 12/31/2022
  • The Fund’s cash position rose during late 2022 as a result of trimming outperforming assets, those proceeds will likely be redeployed in the near future into equities fitting the fund’s mandate
  • “There has been a huge swath of global public equity markets left uncovered, left to people like us, and it hasn’t been in recent years particularly competitive, which is why we’ve been able to succeed from a returns perspective the way that we have,” says Third Avenue Value Fund’s PM, Matthew Fine
Read the PDF
read full article
watch video here