Third Avenue Real Estate Value Fund UCITS Named Best Global Real Estate Fund by LSEG Lipper

The Awards Recognize the Fund for Strong Risk-Adjusted Performance Relative to its Peers in the U.K., France, Switzerland, and Europe Region

The 2026 Distinction Marks the Team’s Eighth Time Receiving a Lipper Award in the Category

NEW YORK--(BUSINESS WIRE)--Third Avenue Management LLC (“Third Avenue”) announced today that the Third Avenue Real Estate Value UCITS Fund (“the Fund”)¹ was named the Best Global Real Estate Fund Over Three Years and the Best Global Real Estate Fund Over Five Years at the 2026 LSEG Lipper Funds Awards in the U.K., France, Switzerland, and Europe region.

The Lipper Fund Awards have been synonymous with strong risk-adjusted performance for more than three decades and focus the investment world on top-performing funds. The 2026 Awards were presented for the Fund’s performance over the three-year and five-year period ended December 31, 2025² and mark the eighth time the Third Avenue Real Estate team has been recognized by LSEG Lipper in the Best Global Real Estate Fund category³.

“We are pleased that LSEG Lipper has recognized the Third Avenue Real Estate Value UCITS Fund for delivering its investors sector-leading results,” said Ryan Dobratz, Co-Portfolio Manager of the Fund. “Receiving our eighth Lipper Award is a testament to the durability of Third Avenue’s distinct real estate strategy and the robust process we have developed over two decades.”

Third Avenue’s Real Estate Value strategy has pursued value-oriented opportunities in listed real estate for more than 25 years. During that span, the Fund has also offered exposure to not only real estate investment trusts (“REITs”), but real estate operating companies (“REOCs”) involved with commercial, residential, and real estate services globally.

“The Fund’s long-term performance reflects Third Avenue’s unique approach to listed real estate,” added Jason Wolf, Co-Portfolio Manager of the Fund. “As we’ve done since 1998, we will continue to identify and invest in well-capitalized and well-managed enterprises that trade at a discount to our estimate of net-asset value—irrespective of whether they are included in a benchmark. We believe such a combination is the key to generating superior long-term results.”

Otto Christian Kober, Head of Lipper Research, LSEG Data & Analytics noted, “We applaud the 2026 LSEG Lipper Fund Award winners for delivering outperformance and the steady reassurance of consistency through changing market conditions.”

The LSEG Lipper Fund Awards were announced for Switzerland on March 26, 2026, Europe on March 27, 2026, for France on April 16, 2026, and for the U.K. on April 23, 2026.

Fund Awards:

• LSEG Lipper Fund Awards Switzerland 2026 Winner, Third Avenue Real Estate Value Fund, Best Global Real Estate Fund Over Three Years.
• LSEG Lipper Fund Awards Switzerland 2026 Winner, Third Avenue Real Estate Value Fund, Best Global Real Estate Fund Over Five Years.
• LSEG Lipper Fund Awards Europe 2026 Winner, Third Avenue Real Estate Value Fund, Best Global Real Estate Fund Over Three Years.
• LSEG Lipper Fund Awards Europe 2026 Winner, Third Avenue Real Estate Value Fund, Best Global Real Estate Fund Over Five Years.
• LSEG Lipper Fund Awards France 2026 Winner, Third Avenue Real Estate Value Fund, Best Global Real Estate Fund Over Three Years.
• LSEG Lipper Fund Awards France 2026 Winner, Third Avenue Real Estate Value Fund, Best Global Real Estate Fund Over Five Years.
• LSEG Lipper Fund Awards United Kingdom 2026 Winner, Third Avenue Real Estate Value Fund, Best Global Real Estate Fund Over Three Years.
• LSEG Lipper Fund Awards United Kingdom 2026 Winner, Third Avenue Real Estate Value Fund, Best Global Real Estate Fund Over Five Years.

About LSEG Lipper Fund Awards
For more than 30 years and in over 17 countries worldwide, the highly-respected LSEG Lipper Awards have honored funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers and focus the investment world on top-funds. The merit of the winners is based on entirely objective, quantitative criteria. This coupled with the unmatched depth of fund data, results in a unique level of prestige and ensures the award has lasting value. Renowned fund data and proprietary methodology is the foundation of this prestigious award qualification, recognizing excellence in fund management. Find out more at www.lipperfundawards.com.

About Third Avenue Management
Third Avenue Management is a United States-based investment adviser that has specialized in value-oriented investment strategies for four decades. The Firm manages more than $1.65 billion of assets across five core strategies (Global Value, Small-Cap Value, Real Estate Value, International Real Estate, and International Value), which are available to investors through Mutual Funds, Managed Accounts, and UCITS Funds. The Firm is headquartered in New York, NY and has been an AMG affiliate since 2002.

Website: https://www.geminicapital.ie/ascender-third-avenue/

Endnotes
¹ - Refers to the Third Avenue Real Estate Value Fund Class R Accumulation (USD) Shares (ISIN: IE00B57HGY48), a share class of the Third Avenue Real Estate Value UCITS, a sub-fund of Gemcap Investment Funds (Ireland) plc (“Gemcap Funds”) and is not available to U.S.-based investors. Gemcap Funds provides UCITS Funds for non-U.S. based investors and does not offer any products or services to U.S.-based investors. Third Avenue Management serves as a sub-adviser to Gemcap Funds.

² - The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. The 2026 LSEG Lipper Fund Awards for the Best Global Real Estate Fund Over Three Years were upon based on a review of 38, 32, 29, and 38 qualified shares classes that were eligible in Europe, Switzerland, France, and the United Kingdom, respectively. The 2026 LSEG Lipper Fund Awards for the Best Global Real Estate Fund Over Five Years were upon based on a review of 37, 31, 28, and 35 qualified shares classes that were eligible in Europe, Switzerland, France, and the United Kingdom, respectively. For more information, see lipperfundawards.com. Although LSEG makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, their accuracy is not guaranteed by LSEG Lipper.

³ - For past LSEG Lipper Fund Awards results, please visit: www.lipperfundawards.com