In the Margins

Third Avenue halts junk bond fund withdrawals

December 11, 2015

By The Wall Street Journal

Third Avenue Management LLC is barring investor withdrawals from the $789 million Third Avenue Credit Fund while it liquidates the high-yield bond fund. Third Avenue said poor bond-market trading conditions made it almost impossible to raise sufficient cash to meet redemption demands from investors without resorting to fire sales of assets. Read the original story from The Wall Street Journal.

 

 

 

Most Read

A Seat at the Table
We've had A Seat at the Table — for 10 years

The very first independent chair we profiled for FBV was Leigh Wilson at Victory Funds, for our A Seat at the Table section. Victory Capital Management had recently redefined itself ...

Top of the Agenda - Governance
Fewer women, minorities among new fund directors

After years of making gains in filling fund board seats, women and individuals representing minority groups lost significant ground in the most recent two-year period measured ...