Differentiated, value-based global equity strategy
- Adam Strydom
- 23 hours ago
- 1 min read
AVI Global Trust (AGT) provides investors with a differentiated, attractively valued global equity exposure. Manager Joe Bauernfreund at Asset Value Investors (AVI) seeks quality assets that are trading at a discount to their intrinsic value, which have an identifiable catalyst to enable value to be realised. He is finding opportunities across AGT’s range of asset classes: holding companies, closed-end funds and asset-backed special situations. While the pull-back in absolute and relative performance due to the US attack on Iran in the last month of the trust’s H126 was disappointing, future prospects look encouraging. AGT’s portfolio is trading at around a 40% discount to NAV, which is towards the low end of the historical range and comparable to other periods of market stress, such as during the global financial crisis or the COVID pandemic. AGT’s long-term average portfolio valuation is around a 30% discount to NAV.
25 August 2026
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