AVI Global Trust plc AGT

This trust invests in a global portfolio across sectors like industry, financial services and consumer products.

Is anyone invested here, my portfolio is weirdly saying this is 95% Down but Google finance shows no such thing

I’ve spotted that too. Huge nosedive. Anyone know what happened to this over the weekend?

The Buy button isn’t working on Freetrade for this either…

There’s been a 1:5 stock split


Thanks for the reminder!

Even so, 95% drop doesn’t add up with 1:5 split.
Something fishy!

My AVI shares have totally disappeared from my portfolio. Has anybody else’s?

Will we ever see the lost money back ?

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Me too - 95% down??

There was a stock split:

I don’t own any but the app price doesn’t appear to match the new share price. I would contact support to ensure that it’s updated as it doesn’t appear to have done.

I emailed support about this yesterday. They are aware of the issue. This was the reply I received from Freetrade:

“I can confirm that the engineering team are aware of an issue that’s affecting this stock split where the new shares have not been automatically added. We will get this sorted as soon as we can to apply the new shares to your account. :muscle:

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Just an update for anyone in the same position as me, I’ve had the original AVI shares added back to my portfolio. So hopefully they will sort the stock split next week.

It’s back :tada:

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I noticed this is incorrectly labelled/classified as a ‘Diversified Reit’. While it offers some property exposure (8%ish), it’s an investment trust that invests in global equities.

AGT’s on my watchlist as I’d like to add a value-orientated satellite to my portfolio and it has a great record.

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I’ve recently opened a position in AVI Global. One of the oldest trusts around, AGT was known as British Empire until 2019 when it changed its name for obvious reasons.

AGT is one of relatively few global trusts which are primarily focused on value and I like its clearly differentiated approach. Performance has been comparatively poor over the past decade but I think it’s probably value’s time to shine.

It trades on a discount of about -11%. The five-year average is around -9%. However, AGT can be said to trade on a ‘double discount’ due to discounts on underlying assets.

The latest annual report puts the portfolio’s weighted average discount at about -30%.

I’d be keen to get your thoughts on this one @SD235, what do you think?

Will look at it tomorrow as I am on the pi**. First thought though Pershing Square another always on big discount. The manager owns a considerable amount of the shares. What he says goes. Hargreaves Lansdowne have it (AVI) on 2.5% management fee? Needs checking as HL not always right. Anyway need beer as I had total knee replacement 2 weeks ago and beer is the best pain relief.

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19 August 2022 Letter to Shareholders

The top link may block if you go back ie they might block you.
So pershing square excellent increases in nav huge discount. Trades euronext and lse. Has listing of sorts in US (adr?) With very large spreads. The discount is considered to be a product of demand unless it has proper listing in US it will continue to trade at a large discount. Due to large loss caused by hedging it is now following a investment strategy similar to avi global.
8-12 holdings in what he considers undervalued companies
To preserve capital and seek maximum, long-term capital appreciation commensurate with reasonable risk. For these purposes, risk is defi ned as the probability of permanent loss of capital, rather than price volatility. In its value approach to investing, the Company seeks to invest in long (and occasionally short) investment opportunities that the Investment Manager believes exhibit signifi cant valuation discrepancies between current trading prices and intrinsic business (or net asset) value, often with a catalyst for value recognition.

This holding is large at 9% and you are also paying to lots of fees AVI relatively cheap and pershing square very large fees (2.5%).

Comparing AVI with others in the same sector over 5 years it isn’t actually doing that bad.


Its active management strategy will have no effect whatsoever though on pershing square as bill ackerman owns 21%.

Your right AVI could be an interesting option with global value investing and no constraints on countries or sectors.

I am not sure i would go for it myself now that you have introduced me to pershing square!
A similar but UK Smaller Companies only Odyssean was something i was looking at. It actually trades on premium though.
I struggle to find big faults with AVI

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Thanks, appreciate your input.

I know what you mean about PSH. I’ve been tempted for a long time but the SPAC/SPARC business, a highly concentrated portfolio and and a general lack of transparency has stopped me pulling the trigger – plus I already hold JAM in the North America sector.

I figure holding AGT allows me to gain a fair amount of exposure to PSH without holding it directly.

I’d not come across Odyssean before, I’ll have a look into it. Looks like a relatively new trust. I’m bullish on UK small caps long-term. I hold THRG but I’m not 100% convinced, so may switch it out for another. There seems to be plenty of good options in the sector: BRSC, OIG, RIII, ASL and so on.

Hope you enjoyed a few beers last night – all hail the ale! :beer:

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A lot of beer followed by a lot of cider at home. And a curry takeaway i didn’t pay for (the best ones)
As it happens i bought NAIT in December 20 and again February 21.
Top of the North American sector over 1 year…on share price total return. PSH i have no doubt would be top on NAV total returns and by long way.