AVI Global Trust (AGT)’s NAV rose by +3.8% in July, driven primarily by underlying NAV growth as the portfolio discount remained essentially unchanged. Currencies provided a boost to returns over the month, with GBP declining relative to most of the major world currencies. Major contributors over the month include the Japan Special Situations basket, Cosan Ltd, Sony Corp, and Eurocastle Investment. The main detractor of note was Jardine Strategic.
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’