AVI Global Trust (AGT) – previously named British Empire Trust (BTEM) – seeks to generate capital growth for investors through investment in a concentrated portfolio of companies trading at a wide discount to NAV.
AGT currently trades on a share price discount of c. 7.9% (as at 26/03/2021). However, when the discount to fair-value of the underlying holdings is accounted for, AVI estimates that the trust trades on a ‘double-discount’ of c. 39% (as at 28/02/2021), as discussed under discount. Historically such levels have proven attractive entry points, which we discuss under performance. Performance in recent months has indeed been very strong, boosted by astute tactical adjustments to positioning. Despite the relatively low allocations made to the US market for a global strategy and the outperformance of US equities compared to global peers, AGT has outperformed global equities over the past five years.
https://www.trustintelligence.co.uk/inv ... l-apr-2021
I have held the trust on and off and am currently awaiting a better entry point, as the SP has risen considerably over the last year (c 67%).
https://www.hl.co.uk/shares/shares-sear ... lc-ord-10p