Third Avenue Management launches distressed-debt fund

09/7/2009 | TheStreet.com

Distressed-debt investment traditionally has been the province of hedge funds, but individual investors can give it a try through a mutual fund with a $2,500 minimum investment. Third Avenue Management brought to the market its Third Avenue Focused Credit Fund, aimed at retail investors. The fund invests in debt below investment grade, including preferred stock, convertible bonds, bank loans and high-yield bonds.

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