Avi Global Share Discussion Threads

[davebowler] 18/11/2019 13:34

They have 25% in Japan now, looking at the recent newsletter.

[biggest bill] 18/11/2019 09:45

Topvest, do you have a stalker who votes down all of your posts? I can't think of any rational reason for anybody to vote down your last post.

[topvest] 14/11/2019 20:25

A great trust this one. Always good to review their top 10 holdings for investment ideas, albeit sometimes easier just to add more of the trust directly. Should be good for c10% return over time. 8.4% return over the last 10 years has been low, but I would expect better returns going forward with their more focused approach.

[davebowler] 13/11/2019 09:54

Net Asset Value per Ordinary share (inclusive of accumulated
income) of AVI Global Trust plc, an investment trust managed by Asset Value Investors Limited,
at the close of business on 11th November 2019 was as follows:

Net Asset Value -- Debt at par value: 843.99 pence
Net Asset Value -- Debt at market value: 831.84 pence

[davebowler] 22/10/2019 08:19

Some favourite companies in the portfolio-

[davebowler] 15/8/2019 14:00

Latest update-

[davebowler] 02/8/2019 13:44

1 Aug Net Asset Value -- Debt at market value: 862.45 pence

[davebowler] 25/7/2019 11:55

23 Jul Net Asset Value -- Debt at market value: 855.06 pence

[vacendak] 17/7/2019 14:52

This is what would be called a "strongly worded letter" in diplomatic circles.
AVI are definitely "actively" managing the company.

[davebowler] 17/7/2019 02:36

Well thought out letter, that, from Tom at AVI.

[vacendak] 28/6/2019 11:13

Thanks for the new thread.

[davebowler] 24/6/2019 16:58

21 Jun Net Asset Value - Debt at market value: 828.98 pence

[davebowler] 20/6/2019 15:46

Net Asset Value per Ordinary share (inclusive of accumulated
income) on 19th June 2019 was as follows:

Net Asset Value -- Debt at market value: 825.39 pence

[davebowler] 20/6/2019 08:30

Liberum re one of our holdings;
Pershing Square Holdings

$100m share buyback programme

Mkt Cap £2,902m | Prem/(disc) -30.9% | Div yield 2.4%

Event

Pershing Square Holdings will commence a buyback programme of $100m of shares on the LSE and Euronext. The maximum number of shares to be purchased under the programme is 6 million (2.8% of outstanding public shares). The buyback programme is expected to last until the next AGM (expected to be in May 2020).

Liberum view

The buyback is the latest in series of initiatives that have implemented by the company to address the discount to NAV. Other measures include a $300m tender, the introduction of a dividend, a significant investment (in excess of $300m) by principals of the investment manager in the stock and a refocused investment strategy. More importantly, NAV performance has picked up materially with a 43% YTD NAV total return. Despite this, the discount to NAV has widened to 30.9%.


The buyback does represent a significant change of view from the board. As recently as March, the company stated it did not believe buybacks were in the best interests of shareholders because of the reduced free float and impact on liquidity. This change has likely been influenced by the continued widening in the discount despite the strategic initiatives and the upturn in NAV performance. The NAV uplift from the buyback will be relatively small (c.0.9% assuming shares are acquired at current price) but may have the desired effect on the discount by reducing selling pressure from shareholders seeking to realise profits given the 31.5% share price increase to date in 2019.

[davebowler] 18/6/2019 11:25

OCI is jumping nicely.
Liberum;

Event

Peter Dubens, co-founder and Managing Partner of the Oakley Capital Group, has acquired a further 5.3m shares in Oakley Capital Investments at a total cost of £11.7m. He now holds 14.9m shares (7.3% shareholding) in the company.

In addition, David Till, co-founder and senior partner of Oakley Capital Group, acquired £0.5m of shares and now holds 0.27% of the company.

Liberum view

Partners of the investment manager have consistently acquired shares over the past two years. The scale of the investment demonstrates confidence in the prospects for future NAV performance. Increased alignment of interest is one of the main initiative's identified by the company to address the discount to NAV. The company is poised to deliver a strong return in 2019 following a 16.5% NAV TR in 2018. We estimate the increase in Time Out's share price and the Inspired transaction have added 11% to NAV to date in 2019.

[davebowler] 07/6/2019 18:19

6th June 2019

Net Asset Value -- Debt at par value: 822.23 pence

[davebowler] 07/6/2019 18:18

This graph shows the continous performance of BTEM running onto AVI unlike ADVFN's graph.

[davebowler] 28/5/2019 11:00

New name for British Empire Securities Trust

[dope007] 28/10/2008 13:36

jez san was on the PLW thread alot but it has just gone bust. Pop in he may still be around

[sharehut2] 28/10/2008 13:31

thanks targ i will get back please to ask you to explain bit out of touch argy scenario ?