AVI Global Trust (AGT)’s NAV rose +2.8% in December, driven by a combination of underlying NAV growth and a tightening portfolio discount (from 32.1% to 31.6%). Currencies detracted from returns over the month, with Sterling strengthening against most major currencies. Contributors for the month included Oakley Capital Investments, Cosan Ltd, Symphony International and Eurocastle Investment. Detractors included Jardine Strategic and Tetragon Financial.
AVI Global Trust p.l.c is referred to as ‘AVI Global’ throughout the website. AVI Global’s investment managers, Asset Value Investors are referred to as ‘AVI’