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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 +5.4% in March, with returns primarily driven by a tightening in the portfolio discount (31% to 28%). Over the six-month interim period, the NAV gained +26.8% versus a return of +13.5% from the MSCI ACWI ex-USA Index (total return in sterling). Significant contributors for the month of March included Jardine Strategic Holdings, Godrej Industries, the Japan Spe

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