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Third Avenue Names New Managers

Plus, Putnam gets a 529 win, and more.

Morningstar Analysts, 09/20/2010

Third Avenue Management LLC, the investment advisor to the Third Avenue fund family, recently announced two promotions.

The firm appointed senior research analyst Jason Wolf as comanager of the $1.6 billion Third Avenue Real Estate Value TAREX.

Wolf joined Third Avenue in April 2004 and already serves as a comanager on some Third Avenue institutional and offshore funds.

Wolf will share responsibility for managing the fund with Michael Winer, who has managed the fund since its September 1998 inception.

Third Avenue also promoted Thomas Lapointe to comanager of Third Avenue Focused Credit TFCIX.

Lapointe will manage the $900 million mutual fund with Jeffrey Gary, who has run it since its inception just over one year ago. Lapointe joined Third Avenue in June 2009 with Gary, and the two have worked together since then to build the firm's credit research team.

Nevada Hires Putnam for 529 Plan
Nevada State Treasurer Kate Marshall and Nevada College Savings Plans Board announced they have selected Putnam Investments as a program manager for the state's 529 college-savings plan. The move will be effective Oct. 1.

While the underlying investment lineup was not disclosed, it is expected that the plan will feature a tuition payment analysis tool and will offer a portal designed to offer quick and easy access to all of Putnam's 529 client plans. Nevada currently offers other college-savings products from Upromise, Vanguard, and USAA. Four months ago, Ohio's 529 plan replaced Putnam with BlackRock.

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