Avi Japan Opportunity Share Discussion Threads

[davebowler] 03/1/2025 09:52

David Stevenson -
Switching to Japan, we have AVI Japan Opportunity (AJOT), which, along with a few other smaller cap-focused Japanese funds, has been making steady headway with a more active value-based approach. City investors have warmed considerably to this theme in recent years as Japanese equities have stormed ahead, and the discount on the fund is down to 3%, helped in part by a storming 22% increase in its share price in 2024 off the back of a 21% underlying return. This story – unwinding the Japanese value discount – has further to play.

[davebowler] 04/12/2024 16:44

03 December 2024 Net Asset Value:158.56 pence

[vacendak] 30/11/2024 16:32

AGT is mostly invested in Europe, and Europe is not at the heights of fashion at the moment.

[davebowler] 29/11/2024 09:58

AGT unmoved though?

[davebowler] 29/11/2024 09:58

Net Asset Value per Ordinary share (inclusive of accumulated income) of AVI Japan Opportunity Trust plc, an investment trust managed by Asset Value Investors Limited, at the close of business on 27 November 2024 was as follows:



Net Asset Value: 151.11 pence

[vacendak] 26/11/2024 13:06

Unless mistaken, all time high has been hit at 144p.

It surely has taken a few more years than expected for AJOT to fire on all cylinders, but I am glad I have kept the faith.

[spangle93] 03/10/2024 07:00

Link to latest Kepler paid research - no material change in stance

[davebowler] 20/9/2024 08:30

Quick recovery !
18 September 2024 NAV : 144.80 pence

[vacendak] 13/8/2024 16:52

@Spangle93
A win's a win! :)

[spangle93] 13/8/2024 09:14

vacendak - when you start issuing a monthly tip sheet, please put my name down for a copy ;-)

I'm not sure all of Buffett's trades were automated though?

[vacendak] 13/8/2024 08:54

I did time the market with my buy at 122!

Move over Warren Buffett, here I come... now about that Bitcoin thing... :)

[davebowler] 13/8/2024 07:26

hTTps://citywire.com/investment-trust-insider/news/james-carthew-surveying-the-damage-from-japan-s-savage-selloff/a2448028?re=122955&refea=252901&link_id=1685511

[davebowler] 10/8/2024 11:46

httPS://quoteddata.com/research/avi-japan-opportunity-pushing-on-an-opening-door-qd/

[spangle93] 06/8/2024 08:09

Probably not - I mistimed by paying 1.36 last month :-(

But hindsight is a wonderful gift

[vacendak] 05/8/2024 20:04

Got my automated monthly investment falling on this very special day.
As I do not really expect AJOT to fall that much further, buying at 122 for something worth 140+ last week is pretty lucky.

Have I "timed the market"? :)

[davebowler] 14/6/2024 13:37

Similar fund doing poorly but manager optimistic....

[davebowler] 15/5/2024 15:24

Interesting article on how Japan lags behind us ...

[davebowler] 02/5/2024 09:11

Kepler-

How to take advantage of these opportunities?
All the Japan fund managers we speak with, despite employing different investment strategies, have seen tangible improvements coming from the reforms and have subsequently capitalised on some of the rising opportunities.

AVI Japan Opportunity (AJOT) was launched in 2018, in order to take advantage of the corporate governance reform programme and its potential to unlock value in deeply discounted Japanese companies. Joe Bauernfreund, lead portfolio manager, focuses on the small-cap sector of the market and takes an activist approach, a strategy that’s helped deliver strong performance since it launched, delivering NAV total returns of 41.4% versus the total return of 17.5% for its benchmark (to 25/04/2024) . Following a trip to Tokyo this year, Joe observed that management appears to be actively listening to the strengthening regulations and guidance from the TSE and METI (Ministry of Economy, Trade, and Industry) last year. Furthermore, he notes that investors’ focus on large-caps has come at the expense of small-caps, which have been overlooked, prompting new opportunities to come forth at more attractive valuations, including BEENOS, a global e-commerce platform the trust recently invested in.

[davebowler] 17/4/2024 04:38

hTTps://www.bailliegifford.com/en/uk/individual-investors/insights/ic-article/2024-q1-trust-48-japan-finance-10045342/?utm_medium=content&utm_source=

[davebowler] 15/4/2024 05:59

hTTps://citywire.com/investment-trust-insider/news/baillie-gifford-shin-nippon-offers-15-tender-if-slump-continues/a2439209

[jellypbean] 12/3/2024 12:43

NAV moving up steadily recently. Underlying holdings showing really quite substantial moves. Not sure I'd be able to handle the excitement of owning those as individual shares.

[davebowler] 21/2/2024 09:19

New research

[davebowler] 29/1/2024 13:39

By way of a reminder, corporate broker Singer Capital Markets will be hosting a Q1 investor update call with Joe Bauernfreund, Portfolio Manager of AVI Japan, at 10am this Thursday, 1st February. AVI Japan ended 2023 in strong fashion, gaining 10% in NAV terms in December alone, augmenting a strong year for the trust which has outperformed its benchmark in NAV terms by 8.9% (15.8% compared to 6.9% for the benchmark), continuing the trend of benchmark-beating returns that trust has achieved since inception in 2018 (40.5% in NAV terms for the trust compared to 16.2% for the benchmark). Joe will provide an update on why the last year of change in Japan has been particularly constructive to the strategy and, as the corporate governance story becomes more widely understood, what the opportunity set looks like going into 2024 for the team with the most experience in engaging with it. You can sign up to the webinar by responding to this email directly or clicking here to register your interest directly with Singers. 

[davebowler] 19/1/2024 16:42

htTPs://doceo.tv/insights/news/a-balanced-portfolio-of-investment-trusts-for-the-cautious-investor/