The Traderszone Network

Published in TZ Latest News 13 December, 2015 by The TZ Newswire Staff

Third Avenue parts with CEO after collapse of junk bond fund: WSJ

The collapse of Third Avenue’s Focused Credit Fund jolted Wall Street and renewed worries about the difficulty of trading securities on the U.S. bond market. New York-based Third Avenue is a relatively small investment manager with fund assets that totaled $10 billion at the beginning of the year. A security guard at Third Avenue’s headquarters said on Sunday that Barse had been let go and was not allowed back in the building, the Wall Street Journal reported.