AVI Global Trust financial year commences on the 1
st October. All figures published before the fiscal results announcement are AVI estimates and subject to change. 1 Source: Morningstar. All NAV figures are cum-fair values. 2 Source: Morningstar. Share price total return is on a mid-to-mid basis, with net income re-invested. 3 From 1st October 2013 the lead benchmark was changed to the MSCI ACWI ex US (£) Index. The investment management fee was changed to 0.7% of net assets and the performance related fee eliminated. Manager s Comment AVI Global Trust (AGT) s NAV gained +3.1% in April, driven primarily by growth in underlying net asset values. Portfolio discount tightening and sterling weakness both provided a minor boost to returns. Significant contributors included Christian Dior, KKR, and Third Point Investors. Detractors included Sony Group, Godrej Industries and Naspers.
AVI calls on shareholders to remove Symphony International Holdings board
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Concerns over fund s poor performance
SIHL today trades at a discount in excess of 50% to estimated NAV
Asset Value Investors (AVI) has launched a campaign calling for shareholder support to remove and replace Symphony International Holdings board of directors due to poor performance .
AVI owns a 15.4% stake in SIHL on behalf of institutional clients. Having first invested in 2012, it now claims that a continued approach of constructive private engagement has no prospects of success .
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Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;