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Third Avenue To Liquidate Junk Bond Fund That Bet Big On Illiquid Assets

TedTed
edited December 2015 in The Bullpen
FYI: Third Avenue Funds said it will begin liquidating its $942 million Focused Credit Fund next week amid heavy losses on bets that included one of the highest exposures to illiquid assets in the junk bond sector. TFCVX is down 27% YTD.
Regards,
Ted
http://www.reuters.com/article/us-funds-thirdavenue-liquidation-idUSKBN0TT2JC20151210#zC5I70k1aJWlYAMx.97

M* Snapshot TFCVX: http://www.morningstar.com/funds/XNAS/TFCVX/quote.html

Lipper Snapshot TFCVX: http://www.marketwatch.com/investing/fund/tfcvx

TFCVX High Yield Blocks Investors From Pulling Out Money: (Click On Article Title At Top Of Google Search)
https://www.google.com/#q=High-Yield-Debt+Fund+Blocks+Investors+From+Pulling+Out+Money+wsj
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