AVI Global Trust Share Price (AGT)

17th July

Net Asset Value ‑ Debt at par value: 266.83 pence, Debt at fair value: 270.33 pence

Given the actual discount to NAV currently about 9% and also given that the whole portfolio is on +/- 40% this trust does look very cheap indeed.

Alliance News) - AVI Global Trust PLC on Friday reported an increased net asset value and "pleasing" total return for its latest financial year, and proclaimed its optimism for the long-term future.

The Exeter, England-based investor said its NAV at September 30 was 226.77 pence per share, up from 199.76p at the same time one year prior.

AVI Global shares were down 0.6% at 200.80p each on Friday morning in London.

The NAV total return for the year ended September 30 was positive 15.3%. Chair Graham Kitchen described the result as "pleasing", and it was much improved from the previous year's negative 7.3%.

AVI Global's comparator benchmarks, the MSCI All Country World Index and the MSCI All Country World ex-US Index, delivered positive 10.5% and positive 10.1% respectively.

AVI Global, which backs family-controlled holding companies, closed-end funds and asset-backed opportunities, reported investment income of GBP24.5 million for the year, up from GBP23.1 million. Total earnings per share increased to 28.02p from 22.06p.

AVI Global declared a final dividend of 2.3p per share, up from 2.1p the prior year, and also announced a special dividend of 0.2p per share. These brought the total financial 2023 payout to 3.70p per share, up from 3.30p for financial 2022.

Going forward, Chair Kitchen commented: "The geopolitical and economic environment are undoubtedly challenging and the world is likely to be unstable for some time."

After a 5 for 1 split shares at 200p

Net Asset Value - Debt at par value: 218.83 pence
Net Asset Value - Debt at market value: 215.73 pence - 1078.65p pre-split

It’s a share split.