Key Takeaways
- • Third Avenue Real Estate Value Fund (Z share class) 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 in the United States, according to a Third Avenue Management press release distributed via Business Wire.
- • The awards are based on risk-adjusted performance for the three- and five-year periods ended December 31, 2025, using Lipper Leader for Consistent Return ratings calculated over 36, 60 and 120 months.
- • The 2026 honor marks the eighth time the Third Avenue real estate team has received a Lipper award in the Best Global Real Estate Fund category.
- • The U.S. winners were presented in New York City on March 11, 2026; the awards were judged across 105 qualified share classes eligible in the United States.
- • Third Avenue manages more than $1.8 billion across five core strategies, with the Real Estate Value Fund investing in listed REITs and real estate operating companies trading at discounts to net-asset value.
Summary
Third Avenue Management LLC announced that its Third Avenue Real Estate Value 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 Fund Awards in the United States. The fund, a U.S.-based mutual fund, is identified by its Z share class (ISIN: US8841168318). The awards were presented in New York City on March 11, 2026, and reflect performance for the three- and five-year periods ended December 31, 2025.
According to the release, LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, a risk-adjusted measure calculated over 36, 60 and 120 months. The fund with the highest value in each eligible classification wins, and the 2026 real estate awards were based on a review of 105 qualified share classes eligible in the United States. The release notes that LSEG makes reasonable efforts to ensure data accuracy but does not guarantee it.
The 2026 distinction is the eighth time the Third Avenue real estate team has been recognized by Lipper in this category, a record the firm attributes to the durability of its strategy. Ryan Dobratz, Co-Portfolio Manager, said the firm was pleased that LSEG Lipper recognized the fund for delivering sector-leading results for investors. Co-Portfolio Manager Jason Wolf said the fund will continue to invest in well-capitalized, well-managed enterprises trading at a discount to the managers' estimate of net-asset value, irrespective of whether they are included in a benchmark.
The fund has pursued value-oriented opportunities in listed real estate for more than 25 years, holding both REITs and real estate operating companies (REOCs) across commercial, residential and real estate services globally. Otto Christian Kober, Head of Lipper Research at LSEG Data & Analytics, praised the winners for delivering outperformance and consistency through changing market conditions.
Third Avenue Management is a U.S.-based investment adviser headquartered in New York, with more than $1.8 billion in assets across Global Value, Small-Cap Value, Real Estate Value, International Real Estate and International Value strategies, available through mutual funds, managed accounts and UCITS funds. The firm has been an AMG affiliate since 2002. The release carries standard risk disclosures noting that real estate values are affected by factors including interest rates, overbuilding and financing availability, and that past performance does not guarantee future results.
According to the release, LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, a risk-adjusted measure calculated over 36, 60 and 120 months. The fund with the highest value in each eligible classification wins, and the 2026 real estate awards were based on a review of 105 qualified share classes eligible in the United States. The release notes that LSEG makes reasonable efforts to ensure data accuracy but does not guarantee it.
The 2026 distinction is the eighth time the Third Avenue real estate team has been recognized by Lipper in this category, a record the firm attributes to the durability of its strategy. Ryan Dobratz, Co-Portfolio Manager, said the firm was pleased that LSEG Lipper recognized the fund for delivering sector-leading results for investors. Co-Portfolio Manager Jason Wolf said the fund will continue to invest in well-capitalized, well-managed enterprises trading at a discount to the managers' estimate of net-asset value, irrespective of whether they are included in a benchmark.
The fund has pursued value-oriented opportunities in listed real estate for more than 25 years, holding both REITs and real estate operating companies (REOCs) across commercial, residential and real estate services globally. Otto Christian Kober, Head of Lipper Research at LSEG Data & Analytics, praised the winners for delivering outperformance and consistency through changing market conditions.
Third Avenue Management is a U.S.-based investment adviser headquartered in New York, with more than $1.8 billion in assets across Global Value, Small-Cap Value, Real Estate Value, International Real Estate and International Value strategies, available through mutual funds, managed accounts and UCITS funds. The firm has been an AMG affiliate since 2002. The release carries standard risk disclosures noting that real estate values are affected by factors including interest rates, overbuilding and financing availability, and that past performance does not guarantee future results.
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