AVI Global Trust (AGT)’s NAV rose by +7% in June as equity markets continued their gains from the March lows. Returns were driven by a combination of the portfolio discount tightening from 39% to 37%, and underlying NAV growth. Major contributors included SoftBank, Godrej Industries, and Oakley Capital Investments. Modest detractors included the Japan Special Situations basket 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’