Third Avenue Real Estate Value Investor
Category: Global Real Estate
Fund Return for 2012: 29.50%
Category Return for 2012: 22.35%
Assets Under Management: $1.7 billion
The real estate market has come back to life this year — but not just in the United States. Various countries, such as Australia, have seen continued strength on the homes front.
A fund that takes a global approach to real estate is Third Avenue Real Estate Value Investor (MUTF:TVRVX), which is managed by Michael Winer. He focuses on finding value plays that have sustainable cash flows, and the stocks he targets usually have rising valuations and higher rents.
TVRVX’s major holdings include Vornado Realty Trust (NYSE:VNO), Brookfield Asset Management (NYSE:BAM) and even Lowe’s (NYSE:LOW), and includes other positions in Hong Kong, Canada, the U.K. and Singapore.
TVRVX is a no-load fund that charges a pricey 1.4% in expenses and requires a $2,500 minimum investment.
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