Third Avenue International Real Estate Value Fund’s Q1 2022 Investor Letter

Third Avenue Management, an investment management firm, published its “Real Estate Value Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. During the quarter, the Fund returned -3.39%, compared to the most relevant benchmark, the FTSE/EPRA NAREIT Global ex-US Index (the “Index”), which returned -2.36% for the same period. Over the past year, the Fund generated a return of +12.02% (after fees) versus -0.78% (before fees) for the index. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.