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QuotedData’s morning briefing 18 January 2021

AVI Japan Opportunity Trust : AJOT invests in undervalued cash-rich and over-capitalised smaller Japanese companies (Small Caps)

In QuotedData’s morning briefing 18 January 2021 –

  • AVI Japan Opportunity (AJOT) is seeking to raise up to £35m in new ordinary shares under its existing placing programme. Joe Bauernfreund, CEO and CIO of Asset Value Investors, AJOT’s manager, commented: “We want to take advantage of valuations which in many cases remain depressed despite encouraging signs of recovering earnings and heightened levels of corporate activity. In addition to investing in a number of new opportunities, the proceeds will be used to increase the size of the shareholdings in several companies where the manager is planning on submitting shareholder proposals at the AGM later this year. The increased stakes will improve the likelihood of a successful outcome.”
  • Biotech Growth Trust (BIOG) announced the appointment of Dr Nicola Shepherd as an independent non-executive director. Dr Shepherd is the founder and a director of Bellows Consulting which operates in the biomedical translational sector, providing strategic advice and assisting clients in moving their projects closer to the market.
  • As part of its board succession process, European Assets (EAT) notes that Pui Kei Yuen will be appointed to the board with effect from 26 February 2021. She has over 20 years’ experience in the fund management and investment banking industries, having held roles with Mercury Asset Management, UBS and Bank of America Merrill Lynch.

We also have interim results from Baillie Gifford US Growth, as it comes off an excellent 2020, where the performance of its Moderna investment has been a notable highlight. We also have annual results from Ruffer, including commentary around its allocation to bitcoin, as well as rent collection updates from LXI REIT and McKay Securities.

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