Bargain hunting
After a strong run of both absolute and relative performance, AVI Global Trust (AGT) faces twin headwinds of widening discounts within its underlying portfolio and a widening discount on its own shares. The manager has been cautious on markets, eliminating the trust’s short-term liabilities) divided by net assets and expressed either as a percentage or as a number where 100 = no gearing and 110 = 10% gearing. NB if in doubt, it is recommended that the investor should check.
">gearing at the end of 2021. That gives it the firepower to take advantage of some of the bargains being thrown up by current events. The manager believes that when markets settle, discounts will start to narrow again.British Empire Trust is an investment trust. Co.'s investment portfolio are focused in companies whose shares stand at a discount to estimated underlying net asset value. Co. invest in investment holding companies, investment companies, and asset-backed companies. As of Sept 30 2017, Co. had 45 investments of which 15 are held in Japanese Special Situations. Co.'s assets are managed by Asset Value Investors Limited.
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