Investment manager Third Avenue Management (Third Avenue) has joined GemCap Investment Funds UCITS platform in Ireland pushed assets under management on the platform to over USD1 billion.
The platform is managed by Gemini Capital Management (Ireland) Ltd (GemCap) our Irish management company, launched in October 2016 and appointed by GIF plc in December 2016.
The Third Avenue Real Estate Value Fund (UCITS) and Third Avenue Value Fund (UCITS) merged into the GIF platform in early June 2017. In addition, Gemini Investment Management Ltd (GIML) will act as UK Distributor for the fund.
Third Avenue’s investment strategies focus on fundamental, deep value, high conviction ideas typically outside common benchmarks leading to a differentiated return profile and high Active Share. The Third Avenue Real Estate Value Fund (UCITS) strategy has an 18 year track record and invests globally across an expansive universe that includes both real estate and real estate related securities. The Third Avenue Value Fund (UCITS) is based on Third Avenue’s flagship investment strategy launched in 1990 and seeks to invest in fundamentally undervalued securities across industries, regions, and market capitalisations.
“We are excited about our partnership with Gemini Capital Management,” says Kristina Fox, Head of Sales and National Accounts at Third Avenue. “This relationship allows Third Avenue to focus on our core equity portfolio management expertise while leveraging the reach and scale of Gemini’s distribution capabilities.”
Conor Hoey, Head of Sales and Relationship Management, says: “We are delighted to welcome Third Avenue to the platform as our first major US Investment Manager. As pioneers of deep value investing, we believe their proposition is highly appealing in the UCITS marketplace and look forward to a strong long-term partnership.”
Stuart Alexander, CEO of Gemini Investment Management Ltd, says: “Since we launched GemCap, our Irish Management Company, we have seen signs that Fund Platform and ManCo markets are burgeoning in Ireland. GemCap is ideally placed to capitalise on the growth being generated by new and existing UCITS managers. Our team in Dublin is looking forward to driving significant growth in the coming years.”
