nine lessons from third avenue s travails : Tue, 15 Dec 2015 01:05:01 MST - Third Avenue attracted considerable attention last week with the announcement that it would restrict withdrawals from its high-yield Focused Credit Fund. And rightly so: Any investment management company that limits investors̢۪ access to their capital is taking a major decision with consequential implications for not just its clients but also its own future. The move raises questions about the fund̢۪s investment strategy as well as market liquidity more generally, especially during periods of unce...
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