According to reports, Third Avenue Management is parting ways with Chief Executive Officer David M. Barse after he announced plans last week to freeze redemptions in its troubled high-yield mutual fund..

Third Avenue rattled credit markets after telling investors Dec. 9, in a letter signed by Barse, that its Focused Credit Fund was halting redemptions and would conduct an orderly liquidation of remaining assets. Such measures are rare among mutual funds.

The Third Avenue Focused Credit Fund had $788.5 million in assets at the time the shutdown was announced, down from $3.5 billion in June of last year, according to data compiled by Bloomberg.

Barse had overseen Third Avenue since 1991.

The White Law Group continues to investigate the liability that brokerage firms may have for recommending the Third Avenue Focused Credit Fund.

If your financial adviser over-concentrated your portfolio in the Third Avenue Focused Credit fund, then you may have a viable claim to recover your losses. Financial advisers are required to make suitable investment recommendations, accounting for your age, income, net worth, investment experience, and investment objectives. Diversification is the key to reducing risk. As such, over-concentrated exposure to any sector or investment—particularly low-quality distressed debt—can be unsuitable for many investors.

For more information on the firm’s investigation, visit https://www.whitesecuritieslaw.com/2015/12/15/recovery-of-third-avenue-focused-credit-fund-investment-losses-2/.

If you lost money investing in the Third Avenue Focused Credit fund and would like to discuss your litigation options, please call the securities attorneys of 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 Franklin, Tennessee. For more information on the firm and its representation of investors in FINRA arbitration claims, visit www.whitesecuritieslaw.com.