Key Takeaways
- • Third Avenue Real Estate Value UCITS Fund was named Best Global Real Estate Fund Over Three Years and Best Global Real Estate Fund Over Five Years at the 2026 LSEG Lipper Fund Awards for the U.K., France, Switzerland, and Europe region.
- • The awards reflect performance for the three- and five-year periods ended December 31, 2025, and mark the eighth time the Third Avenue Real Estate team has received a Lipper award in this category.
- • The Lipper ratings are based on the Lipper Leader for Consistent Return, a risk-adjusted measure calculated over 36, 60 and 120 months.
- • The fund invests in listed real estate, including REITs and real estate operating companies, targeting enterprises that trade at a discount to estimated net asset value regardless of benchmark inclusion.
- • Third Avenue Management manages more than $1.65 billion across five core strategies, with the fund offered as a UCITS share class via Gemcap Investment Funds (Ireland) plc.
Summary
Third Avenue Management LLC announced that the Third Avenue Real Estate Value UCITS Fund was named the Best Global Real Estate Fund Over Three Years and the Best Global Real Estate Fund Over Five Years at the 2026 LSEG Lipper Funds Awards. The recognition covers the U.K., France, Switzerland, and Europe regions, with the awards announced for Switzerland on March 26, 2026, Europe on March 27, 2026, France on April 16, 2026, and the U.K. on April 23, 2026. The awards were presented for performance over the three- and five-year periods ended December 31, 2025, and mark the eighth time the Third Avenue Real Estate team has been recognized by LSEG Lipper in this category.
According to LSEG Lipper's methodology, the awards are based on the Lipper Leader for Consistent Return rating, a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins. The three-year awards were based on reviews of 38 (Europe), 32 (Switzerland), 29 (France) and 38 (U.K.) qualified share classes, while the five-year awards were based on 37, 31, 28 and 35 qualified share classes in the same respective regions. LSEG Lipper noted that its accuracy is not guaranteed.
Ryan Dobratz, Co-Portfolio Manager, said the recognition reflects the durability of the firm's real estate strategy and the process developed over two decades. Co-Portfolio Manager Jason Wolf said the team has since 1998 invested in well-capitalized, well-managed enterprises trading at a discount to its estimate of net asset value, irrespective of benchmark inclusion. Otto Christian Kober, Head of Lipper Research at LSEG Data & Analytics, commented on the consistency of outperformance through changing market conditions.
The strategy has pursued value-oriented opportunities in listed real estate for more than 25 years, offering exposure to both REITs and real estate operating companies involved in commercial, residential, and real estate services globally. Third Avenue Management, a U.S.-based investment adviser and AMG affiliate since 2002, manages more than $1.65 billion across Global Value, Small-Cap Value, Real Estate Value, International Real Estate, and International Value strategies. The Fund's share class is available only to non-U.S. investors through Gemcap Investment Funds (Ireland) plc, with Third Avenue serving as sub-adviser.
According to LSEG Lipper's methodology, the awards are based on the Lipper Leader for Consistent Return rating, a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins. The three-year awards were based on reviews of 38 (Europe), 32 (Switzerland), 29 (France) and 38 (U.K.) qualified share classes, while the five-year awards were based on 37, 31, 28 and 35 qualified share classes in the same respective regions. LSEG Lipper noted that its accuracy is not guaranteed.
Ryan Dobratz, Co-Portfolio Manager, said the recognition reflects the durability of the firm's real estate strategy and the process developed over two decades. Co-Portfolio Manager Jason Wolf said the team has since 1998 invested in well-capitalized, well-managed enterprises trading at a discount to its estimate of net asset value, irrespective of benchmark inclusion. Otto Christian Kober, Head of Lipper Research at LSEG Data & Analytics, commented on the consistency of outperformance through changing market conditions.
The strategy has pursued value-oriented opportunities in listed real estate for more than 25 years, offering exposure to both REITs and real estate operating companies involved in commercial, residential, and real estate services globally. Third Avenue Management, a U.S.-based investment adviser and AMG affiliate since 2002, manages more than $1.65 billion across Global Value, Small-Cap Value, Real Estate Value, International Real Estate, and International Value strategies. The Fund's share class is available only to non-U.S. investors through Gemcap Investment Funds (Ireland) plc, with Third Avenue serving as sub-adviser.
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