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AVI Japan Opportunity Trust : AJOT

AVI Japan Opportunity Trust : AJOT

AVI Japan Opportunity Trust is an investment trust established to provide shareholders with capital growth through investing in undervalued cash-rich and over-capitalised smaller  (smaller cap) Japanese equities (companies). AVI will leverage its three decades of experience investing in asset-backed companies to engage with management and help to unlock value in this under-researched area of the market, encouraging them to follow the spirit of The Corporate Governance Code.

Investment objective

The investment objective of AVI Japan Opportunity Trust is to provide shareholders with capital growth in excess of the MSCI Japan Small Cap Index, through the active management of a focused portfolio of equity investments listed or quoted in Japan which have been identified by the investment manager as undervalued and having a significant proportion of their market capitalisation held in cash, listed securities and/or realisable assets.

Trust Structure

  • 1% annual management fee based on lower ofmarket cap or net assets
  • Opportunity to exit all or part of holdings four years after launch at close to NAV, and every two years after
  • Buyback triggered at 5% discount
  • AVI to invest c. £0.75m at launch
  • AVI to receive AJOT shares in lieu of 25% of the management fee

Who are AVI?

Asset Value Investors or AVI is an international equity boutique founded in 1985.  Based in London, AVI is majority-owned by employees and regulated by FCA in the UK and in the US by the SEC . The company has £1,125m assets under management with £186m in Japan.  AVI has managed British Empire Trust for 35 years returning 12.1% p.a. against the benchmark’s 8.8% return.

Their website is found here.

AVI Japan Opportunity Trust : AJOT

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

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