Third Avenue Focused Credit Fund drops portfolio manager Edwin Tai

By Toni Weeks

San Luis Obispo, Calif., March 24 – Third Avenue Trust announced that Edwin Tai is no longer a portfolio manager for the Third Avenue Focused Credit Fund.

The change was effective as of March 20, according to a 497 filing with the Securities and Exchange Commission.

Thomas Lapointe, Nathaniel Kirk and Joseph Zalewski continue to manage the fund, which seeks long-term total return from a combination of capital appreciation, fees and interest income and invests in bonds and other types of credit instruments rated primarily below investment grade.

New York-based Third Avenue Management LLC is the investment adviser.

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