Avi Japan Opportunity Share Discussion Threads

[topvest] 05/11/2018 20:07

Its early days.

[topvest] 27/10/2018 12:13

Yes, I bought a few in the IPO. They did well to raise £80m. Hopefully, they will not spend the £80m straight away, as markets look like they are heading lower.

[vacendak] 26/10/2018 09:37

@SkyShip
Got in at day-0 so no premium for me. :)

I had been looking at Japanese only trusts for the past year or so and those I had in mind - from Baillie Gifford and Coupland Cardiff - tended to always be at premium (last time I checked anyway). Thus going in at IPO time was a minor bet to avoid that.

True, the first couple of NAV statements have shown a decrease below 100p, so the "premium" bit is not as rosy as it sounds. In any case, I am in until I retire, so no intention to sell anytime soon.

[skyship] 26/10/2018 07:32

Vacendak - thnx for the link. No position yet; but maybe sometime in the future. Like the strategy, just won't buy funds not trading at a reasonable discount!

[vacendak] 25/10/2018 19:55

!FOLLOWFEED!YOUTUBEVIDEO:Qli18cHHVQU:
AVI Japan Opportunity Trust



From the website:
"A new investment trust run by AVI, established to provide shareholders with capital growth through investing in a focussed portfolio of overcapitalised small-cap Japanese equities. AVI will leverage its three decades of experience investing in asset-backed companies to engage with company management and help to unlock value for all stakeholders."

The video is an interview with Joe Bauernfreund a couple of weeks before the launch.

It raised £80m, for a target of £50-£200m, at launch. That week, as well as that prior, saw a serious correction in the markets, so it was not the best time to float.
It still managed to be up 1.5% on the day and listed straight to a slight premium.