AVI Global Trust (AGT)’s NAV gained +2.8% in February. Returns were driven by a combination of underlying NAV growth and a tightening of the portfolio discount (32% to 31%), with sterling strength acting as a headwind. Significant contributors included SoftBank Group, KKR and Sony. Significant detractors included VNV Global, Kinnevik and Nintendo.
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’