Avi Global Share Discussion Threads

[vacendak] 26/7/2021 12:47

I know, pretty long URL but it should show a pretty good week for Symphony (SIHL)

[vacendak] 24/7/2021 09:07

That is weird indeed, I always read the update from the PDF found on the AVI website and as BiggestBill mentioned, everything is logical on that version.

[emptyglass] 23/7/2021 17:37

Thanks.
The LSE RNS Number : 1784G AVI Global Trust PLC 22 July 2021 has Japan Special Sits in both columns, which is what I was reading.
Jump to the bottom of

[biggest bill] 23/7/2021 09:40

Emptyglass, are you sure that you are looking at the right update? Japan Special Situations only appears in the largest contributors column.

[emptyglass] 22/7/2021 18:46

Why is the Japan Special Situations in both Largest Contributors and Largest Detractors in the monthly update ?
.
Asking for a friend. I ventured it could happen if you split the constituents.

[vacendak] 22/7/2021 10:42

Still no update on Symphony and the latest PSH/Tontine/UMG story is too recent to have made it to the June newsletter.

[vacendak] 05/7/2021 14:21

And now having a go at "Third Point Investors Ltd".

[riverman77] 26/6/2021 17:14

Yes there are a few bits of dead wood they need to sort out (which I believe the current manager inherited from the previous manager) - as well as Symphony, there is also Tetragon which I think they still hold (been on a 50% odd discount for years because of governance issues but never seems to go anywhere). The newer investments look a lot more promising though so no complaints from me.

[vacendak] 26/6/2021 15:59

Reading the latest factsheet, AGT has sold its Kinnevik holdings.
It was bought cheap, then they doubled-down when dirt cheap and have now sold at a premium. This is textbook AVI stuff. They used the money to lower the gearing a bit.

Now, let see how they sort out the mess at Symphony. There is no update about this in the latest factsheet.

[rambutan2] 21/6/2021 16:02

From above factsheet, new investment:

[steve3sandal] 17/5/2021 14:16

I bought some Apollo a few weeks ago. Delighted to see they have followed me in. Love a little confirmation bias. Ha Ha.

[arja] 21/4/2021 10:13

down again today even as markets pick up again which is a concern . I did exit recently and wait for opportunity to re-enter !

[riverman77] 16/4/2021 21:35

Just checked latest performance and NAV returned 29% over past six months - that makes it number 1 out of all its global IT peers by some distance. Very much supports my view that AGT will do well in a value investing environment. Can see the discount disappearing pretty quickly and could even go to premium.

[riverman77] 16/4/2021 11:14

Yes a lot of unlocked value in this portfolio and genuinely differentiated from all the other global equity ITs.

[biggest bill] 16/4/2021 11:04

The outperformance since Joe Bauernfreund has taken over has been very marked. Outperforming the world index over the last 5 years with little exposure to the USA has been very impressive. The discount is now starting to close and I expect the discount to go to zero in the next year or so. A case could easily be made for agt to go to a premium in the future. I remember the days when British Empire traded at a premium before the years of dull performance.

[vacendak] 15/4/2021 17:31

£10.00 a share and not a penny more (or less)!

[vacendak] 15/4/2021 10:08

This makes sense.

What I remember now - I still have not looked for the reference - was a holding company they had their eyes on, trading at a discount, with some Porsche in it and AGT/BTEM at the time saying that those Porsche shares traded at a premium. In other words, there was value in whatever that company was called. So they have indeed been sniffing around Porsche one way or another for a while.