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Looking for comments on Third Avenue Focused Credit Investor = TFCVX

beebee
edited November 2013 in Fund Discussions
Number one in its category (High Yield) for the year...wondering if this out performance is due to higher risk. Comments welcome.

TFCVX

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Comments

  • TedTed
    Dear Bee: I have linked the fund's fact sheet. Look at the percentage of assets in the top ten holdings, the percentage of CCC & Unrated Bonds and Special Situations indicates that this fund lives on the edge. Interesting fund and hard to beat the returns YTD
    Regards,
    ted


    http://www.thirdave.com/ta/documents/MonthlyFactsheets/TFCIX October 2013.pdf
  • beebee
    edited November 2013
    Reply to @Ted: Thanks...always good hearing it from the horse's mouth. Seems to be a fund with a flexible mandate.

    from your link:
    "Invests up and down the capital structure, primarily in high-yield bonds, bank loans, convertible securities and preferreds"

    Also...pretty steep fee structure,
    image
  • expatsp
    edited December 2013
    I'd prefer PIMIX (better 3 year returns, lower volatility and far lower expenses) though my money is in SUBFX (whose returns are pretty remarkable if you consider it's nearly 50% cash) and RSIVX.
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