AVI Global Trust (AGT)’s NAV rose by +10.6% in November, as positive news from the vaccine trials fuelled a broad-based rally in equity markets during the month. AGT’s returns were driven by a combination of underlying NAV gains and a tightening of the portfolio discount (from 34% to 31%), although dampened slightly by GBP strength. Major contributors included Pershing Square Holdings, EXOR, Aker and VNV Global.
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’