Investment trust insider on AVI Global Trust – James Carthew: AVI Global’s a busy diversifier that’s worth a look
AVI Global Trust (AGT) and its manager have been busy.
It was at the forefront of the campaign to tackle failings at Hipgnosis Songs Fund (SONG); AGT profited from the Pantheon International’s (PIN) tender offer and buyback programme; its manager has launched a campaign to shake up one of its Japanese holdings; manager Asset Value Investors (AVI) is taking on MIGO Opportunities (MIGO) together with its managers – Nick Greenwood and Charlotte Cuthbertson – who are augmenting the AVI fund management team; and AGT was a well-deserved winner of best global fund at the recent Citywire Awards.
AVI is an activist investor, but has a much more constructive approach than the smash and grab one adopted by some other discount players.
It does not tend to be vocal about the work that it does to unlock value for investors unless it meets resistance. It thinks galvanising other stakeholders to put pressure on companies to do the right thing will help shift the dial.
The £1bn plus portfolio is focused on assets trading at a discount to the manager’s assessment of their intrinsic value.
This could mean that it is categorised as a value investor. However, in reality… read more here