Aberforth Geared Value and Income : AGVI

Overview

Aberforth Geared Value & Income Trust plc (AGVI) was launched on 1 July 2024 following the planned reconstruction and voluntary windup of Aberforth Split Level Income Trust plc. It is an investment trust with two classes of share – ordinary shares and zero dividend preference (ZDP) shares – both of which trade on the London Stock Exchange.

The trust aims to provide its ordinary shareholders with high total returns incorporating an attractive level of income, and to provide ZDP shareholders with a pre-determined final capital entitlement of 160.58 pence on the planned winding up of the company, which is expected to occur on 30 June 2031.

Aberforth Geared Value & Income Trust invests in securities of companies that are or that would be constituents of the Deutsche Numis Smaller Companies Index (excluding investment companies). The upper limit to this index was companies with a market capitalisation of £1.7bn as at 1 January 2024 (the date of the last annual index rebalance). The portfolio is diversified and will normally consist of investments in between 50 and 100 individual companies.

In seeking investments the approach will be fundamental in nature involving regular contact with the management of prospective and existing investments in conjunction with rigorous financial analysis of these companies. The emphasis within the portfolio will reflect the desire to invest in companies whose shares represent relatively attractive value within a given stock market environment.

You can access the trust’s website here

Fundamentals

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