Avi Japan Opportunity Share Discussion Threads

[davebowler] 03/6/2020 10:39

Webcast at 12.30 today, password is japan

[vacendak] 23/3/2020 14:29

They have admitted defeat before the battle:


This was the right decision to take.

I had considered putting some money on it back then, hoping that COVID-19 would be over within weeks, i.e. before the placement, but nope...
They were allocating one share subscription right per share, which would have been nice when trading at 115+ p.

[spectoacc] 12/3/2020 07:22

Suspect the time to buy AJOT will be in about 6 months, and certainly expecting as big a discount as the current premium.

Agree that none of us want to get Covid-19.

I'm amazed at the panic buying because surely, surely, everyone has their boxes of dried long-life foodstuffs already? Incredulous that they seemingly don't, particularly after 2008. Doesn't have to be a virus - could be war, nuclear accident, sun spot, earthquake...

(...Flood, pestilence :) But who's laughing now. Not me - had never crossed my mind to stash toilet rolls).

[cordwainer] 11/3/2020 23:01

re: "rampages across the USA" - I'm beginning to worry about it rampaging across me, albeit only other symptom is being incredulous at other people's panic buying in the country which flogs souvenirs and trinkets to do with 'keep calm and carry on'.
Been watching AJOT for ages wondering whether to add it alongside AGT

[spectoacc] 11/3/2020 11:22

Japan ought to be out of it sooner than we are - good luck!

Tho I still say - "Never pay a premium" ;)

[vacendak] 11/3/2020 09:36

There is something about Japan focused investment trusts and premium values.
I think it is because people see the Japanese QE as neverending.

I topped up recently on AJOT before COVID-19, so I bit the bullet and paid the slight premium. Let's say I did not time the market very well! :(

Oh well, I am planning on holding this for years, so I shall not sweat too much.

[spectoacc] 11/3/2020 06:53

Thanks @v, certainly won't be buying at fat premium! Bought it at float, but sold out too soon (about 103p). I like the ethos/method of AVI, hopefully will pick it up about 80p, when Covid-19 rampages across the USA :(

[vacendak] 10/3/2020 21:36

They are soon issuing more shares at 100p. I have received a message recently about my right to subscribe. Talk about bad timing, I think I shall pass as I do not expect COVID-19 and its associated fears to be gone by next month.

@SpectoAcc
This one started at a premium on the day of listing and has mostly always been at a slight premium.
Looking at my spreadsheet, only ten days at a very slight discount on a 52w basis. The biggest value was 1.99% on 24/2/2020.

Best of luck in timing the market on this one. :)

[spectoacc] 10/3/2020 16:16

Thanks @davebowler, 18% in Yen, 8% in OCI, I like it already :) Give me a 25% discount and I'm in :)

Edit - oh! 4.35% in Softbank. I'm out.

[davebowler] 10/3/2020 16:00

AVI Global has about 25% of its portfolio in Japanese companies, I think, and it is trading about 10% below NAV.

[spectoacc] 10/3/2020 15:53

88.4p NAV on Monday, wow. Got my eye on AJOT but at a discount, not 96p offered.

[dplewis1] 22/2/2020 21:56

There is no broker upgrade - dodgy link don't click it..

[vacendak] 22/2/2020 19:39

Cross posted on the British Empire/AVG thread. AJOT seems aligned with the "Japan Special Situation Basket" of AVG.

[vacendak] 01/7/2019 11:28

Good catch.
This should hopefully be only a website ommission.

No interim or full year report yet, so cannot see it anywhere formally defined or stated. The prospectus does not have it as an entry either.

[zangdook] 01/7/2019 11:08

I'm not impressed by this:

[rjmahan] 29/6/2019 21:39

My thoughts on this:



Hope this will do very well in the years ahead - anyone know of anything else out there similar ?

[davebowler] 12/6/2019 08:16

https://www.investmentweek.co.uk/investment-week/analysis/3076969/bmo-gams-multi-manager-team-backs-insanely-cheap-japan-on-abes-reforms-continue-to-take-shape?utm_medium=email&utm_content=&=IW.Daily_RL.EU.A.U&utm_source=IW.DCM.Editors_Updates&utm_term=FPC%20FINANCIAL%20SERVICES&im_company=FPC%20FINANCIAL%20SERVICES&utm_medium=email&utm_term=2%20to%209&im_edp=410979-05474982d5ce102b%26campaignname%3DIW.Daily_RL.EU.A.U

[davebowler] 28/5/2019 13:42

The Japan portfolio gets a good mention at 2 minutes

[biggest bill] 17/5/2019 12:51

Very unusually, it is now cheaper to buy this share than sell it. So I have been adding a few more.

[vacendak] 08/5/2019 09:59

Yes, I had read that one the other day.

Strategy put into practice and practice paying off.
This augurs well for the planned capital increase.

[davebowler] 08/5/2019 09:39

AVI Japan Opportunity Trust PLC (the "Company")

Portfolio Company Announces Tender Offer



On 7 May 2019, after close of the Japanese stock market, Nittofc (4033), which accounts for 2.3% of the company's NAV, announced that it had received a tender offer for all its outstanding shares at ¥1,200 per share, representing a 37.6% premium to the close price.

Integral Corporation, through wholly owned subsidiaries, intends to acquire all the shares of Nittofc and delist the company. 32.86% of shareholders have already agreed to tender their shares and the period of purchase for the remaining shares is from 8 May 2019 to 18 June 2019.

AJOT has been acquiring shares in Nittofc since launch in October 2018 and built its stake at an average price of ¥772 per share.

[vacendak] 19/4/2019 19:05

They were short of expectation at IPO time, £80m was closer to failure (£50m) than the upper range of £200m, so it will probably have to be a "big chunk" and not just drip feeding in the market to exploit the premium.

So, the original shareholders should be given rights to subscribe at a reasonable price.

The story has read well so far, the rise has not been meteoric but the fundamentals have proven to be right. Because the fund is actually active - they write a lot of letters :) - there must be some costs involved, so it would make sense to handle something North of £100m to reduce them as a percentage.
.

[johnwig] 18/4/2019 23:15

Wanna bet?