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Fund Times

Fund Times: Openings, Closings, and Manager Changes

Third Avenue, Merger, Fidelity, and more.

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Third Avenue takes its vulture approach overseas, Merger Fund is back on the block, and Janus' Hayes gets the boot from Masters' Select International.

Openings
Third Avenue has filed a registration statement with the SEC for a new fund. The new fund, which will be called Third Avenue International Value, will invest in companies of all sizes, primarily in developed countries outside the United States. Like its three domestic-oriented siblings, it will use a strict value approach. Amit Wadhwaney will be the fund's portfolio manager. Wadhwaney has worked with Third Avenue Funds since 1999. He has no public mutual-fund record. Third Avenue Value (TAVFX), Third Avenue Small-Cap Value (TASCX), and Third Avenue Real Estate (TAREX) all have fairly strong performance records.

Bridget B. Hughes does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.