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Wednesday Jul 10, 2024
Wednesday Jul 10, 2024
Tune in to the June 2024 newsletter commentary by investment manager Joe Bauernfreund.
AVI Global Trust (AGT)’s NAV declined -1.2% in June. Cordiant Digital Infrastructure was the most significant contributor, adding +38bps to NAV, followed by Oakley and Dai Nippon Printing which contributed +22bps and +21%, respectively. There was a relatively long list of detractors. Bollore was the most significant with a -10% return detracting -56bps as French equity markets fell following President Macron’s decision to call a snap election. We do not believe the fundamental outlook for Bollore has changed and took advantage of this to add to the position.
View the June 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 INFORMATIONAVI 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.
Wednesday Jul 10, 2024
Wednesday Jul 10, 2024
Part two (final) of the June 2024 Factsheet.
AVI Global Trust (AGT)’s NAV declined -1.2% in June. Cordiant Digital Infrastructure was the most significant contributor, adding +38bps to NAV, followed by Oakley and Dai Nippon Printing which contributed +22bps and +21%, respectively. There was a relatively long list of detractors. Bollore was the most significant with a -10% return detracting -56bps as French equity markets fell following President Macron’s decision to call a snap election. We do not believe the fundamental outlook for Bollore has changed and took advantage of this to add to the position.
View the June 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 INFORMATIONAVI 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.
Wednesday Jul 10, 2024
Wednesday Jul 10, 2024
Tune in to the June 2024 newsletter commentary by investment manager Joe Bauernfreund.
AVI Global Trust (AGT)’s NAV declined -1.2% in June. Cordiant Digital Infrastructure was the most significant contributor, adding +38bps to NAV, followed by Oakley and Dai Nippon Printing which contributed +22bps and +21%, respectively. There was a relatively long list of detractors. Bollore was the most significant with a -10% return detracting -56bps as French equity markets fell following President Macron’s decision to call a snap election. We do not believe the fundamental outlook for Bollore has changed and took advantage of this to add to the position.
View the June 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 INFORMATIONAVI 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.
Monday Jun 17, 2024
Monday Jun 17, 2024
View AJOT's May 2024 Factsheet here
Visit the fund page here
AJOT’s NAV increased by +1.1% during an active month for corporate activity. The two largest contributors to performance were Alps Logistics, (+76.6% share price) which was subject to a takeover bid from the KKR-owned Logisteed, and Nihon Kohden, (+11.5%) which released a transformative mid-term plan. Takuma (-12.8%), which released a disappointing mid-term plan, and NC Holdings, (- 22.6%) which shortly after month end was subject to a takeover bid from a US fund that is set to more than reverse the share price decline, were two significant detractors.
//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 Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’
//IMPORTANT INFORMATIONAVI 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 AVI Japan Opportunity Trust (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.
Monday Jun 17, 2024
Monday Jun 17, 2024
View AJOT's May 2024 Factsheet here
Visit the fund page here
AJOT’s NAV increased by +1.1% during an active month for corporate activity. The two largest contributors to performance were Alps Logistics, (+76.6% share price) which was subject to a takeover bid from the KKR-owned Logisteed, and Nihon Kohden, (+11.5%) which released a transformative mid-term plan. Takuma (-12.8%), which released a disappointing mid-term plan, and NC Holdings, (- 22.6%) which shortly after month end was subject to a takeover bid from a US fund that is set to more than reverse the share price decline, were two significant detractors.
//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 Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’
//IMPORTANT INFORMATIONAVI 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 AVI Japan Opportunity Trust (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.
Monday Jun 17, 2024
Monday Jun 17, 2024
View the May 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.
MIGO Opportunity Trust p.l.c is referred to as ‘MIGO’ throughout the channel. MIGO's investment managers, Asset Value Investors are referred to as ‘AVI’
//IMPORTANT INFORMATIONAVI 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 MIGO Opportunities (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.
Tuesday Jun 11, 2024
Tuesday Jun 11, 2024
Tune in to the May 2024 newsletter commentary by investment manager Joe Bauernfreund.
View the May 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 INFORMATIONAVI 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.
Friday May 24, 2024
Friday May 24, 2024
Princess Private Equity - Part two (Final) of the April 2024 Factsheet.
View the March 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 INFORMATIONAVI 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.
Friday May 24, 2024
Friday May 24, 2024
Hipgnosis Songs Fund - Part one of the April 2024 Factsheet.
View the March 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 INFORMATIONAVI 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.
Thursday May 23, 2024
Thursday May 23, 2024
View AJOT's April 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 Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’
//IMPORTANT INFORMATIONAVI 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 AVI Japan Opportunity Trust (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.
AVI was established in 1985 to manage the assets of one of London's oldest listed investment companies.
Our distinctive approach of investing in family-controlled holding companies, closed-end funds and asset-back situations is still a unique combination over 37 years later.