AVI Global Trust (AGT)’s NAV rose by +2.2% in November, driven by a combination of underlying NAV growth and a tightening portfolio discount (from 32.5% to 32.1%). Currencies detracted modestly from returns. Major contributors over the month include the Japan Special Situations Basket, Oakley Capital Investments, Eurocastle Investment, and Kinnevik ‘B’. Detractors include Wendel, Jardine Strategic and Riverstone Energy.
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’