Sarasota County Bar Association
Manatee Chamber of Comerce

Third Avenue Focused Credit Fund

Third Avenue Focused Credit Fund was the darling of the high-yield business, attracting a lot of investors.

In December 2015, they abruptly gave notice that they were liquidating the fund. At the time of the announcement, they blocked investors from withdrawing their money. This caused quite a ripple in the investment world.

Investment strategy has been blamed for Third Avenue’s shrinking assets in the Focused Credit Fund, and overall. Their portfolio consisted of some 28% CCC rated bond issues, and up to 50% were non rated instruments. Assets had gradually been shrinking over time. The fund was launched in 2009, in the middle of the financial crisis.

The liquidation of the fund caused a panic in the market over high yield funds in other companies, and affected the investment of countless shareholders.

As of December 2016, the fund is still in the process of liquidating it’s assets, and payments to shareholders are still in question. Contact stock market loss recovery professional to learn more.

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