AGT Aug 2024 - Japan (1/2)

Tune in to the August 2024 newsletter commentary by investment manager Joe Bauernfreund.

 

AVI Global Trust (AGT)’s NAV declined -2.1% in August.

Entain (+39bps), Reckitt (+23ps) and Dai Nippon Printing (+18bps) were the most significant contributors. We endured weakness in Japan. In total our Japanese small-cap holdings detracted -113bps and we focus on this below. FEMSA suffered the newsletter curse and shaved off -42bps, whilst Symphony cost us -29bps.

 

View the Aug 2024 Factsheet here

 

//About us:
Asset Value Investors (“AVI”) have been investing in Japan for three decades. AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors.

AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’

//IMPORTANT INFORMATION
AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

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