Did you invest in Third Avenue Focused Credit Fund? If so, the following may be of interest to you.
According to InvestmentNews, the Securities and Exchange Commission has approved Third Avenue Management’s request to suspend redemptions from its $788.5 million high-yield bond fund.
“If the fund were unable to suspend redemptions, institutional investors would be best positioned to take advantage of any withdrawal opportunities, to the detriment of retail investors, the SEC said Wednesday in a regulatory filing.”
Reports stipulate that as a condition of the approval Third Avenue is required to implement investor and market protections for the fund, and will be subjected to ongoing oversight by the SEC.
Unfortunately for many investors, they were not made adequately aware of the risks associated with high-yield bond funds.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Third Avenue Focused Credit Fund, please contact The White Law Group at 312-238-9650 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.