Continued fractions with three limit points

On page 45 in his lost notebook, Ramanujan asserts that a certain q-continued fraction has three limit points. More precisely, if An/Bn denotes its nth partial quotient, and n tends to ∞ in each of three residue classes modulo 3, then each of the three limits of An/Bn exists and is explicitly given by Ramanujan. Ramanujan's assertion is proved in this paper. Moreover, general classes of continued fractions with three limit points are established.