FYI: In a highly unusual move this past week, Third Avenue announced that they would be liquidating their long-only, opportunistic high-yield credit mutual fund, the Third Avenue Focused Credit Fund (TFCIX). Following significant under-performance and investor redemptions, the firm made a decision to protect investor’s assets by halting redemptions and bundling certain holdings into a separate trust that will be distributed to investors later this month.
Regards,
Ted
http://dailyalts.com/weekend-reading-third-avenue-liquid-alts-acceleration-and-more/
