AVI Global Trust
AVI Global Trust plc is a London-listed closed-end investment trust (FTSE 250, ticker AGT) managing £1.2 billion globally. Externally managed by Asset Value Investors since 1985, it invests in undervalued holding companies, closed-end funds, and asset-backed special situations for professional and advised retail investors.
- Company typePublic
- Founded1889
- HeadquartersLancing, United Kingdom
- Headcount1–10
- GTM typeB2C
- OfferingServices
What AVI Global Trust does
AVI Global Trust plc (AGT) is a closed-end investment trust listed on the London Stock Exchange and a constituent of the FTSE 250 index, established on 1 July 1889. Externally managed by Asset Value Investors Ltd (appointed 1985) and authorized by the UK Financial Conduct Authority, AGT invests in global holding companies, closed-end funds, and asset-backed special situations trading at discounts to underlying net asset value. The investment process is bottom-up and research-intensive, screening an investment universe of approximately 415 companies tracked through detailed proprietary financial models. Portfolio construction targets a concentrated 30-40 stock portfolio (with a 40-50 holding ceiling), with a minimum position size of approximately 2%. The portfolio is geographically diversified by underlying-asset location (Japan 23%, Europe ex-UK 24%, Korea 16%, North America 13%, Asia ex-Japan/Korea 11%, UK 9%, and emerging markets 3%) and by structure (holding companies 48%, closed-end funds 31%, asset-backed special situations 21%). Top 10 holdings represent 54.6% of NAV, with D'Ieteren, Samsung C&T, Mitsubishi Logistics, Vivendi, and Chrysalis Investments among the largest positions.
The trust serves two target segments: professional and self-certified sophisticated investors (as defined by the FCA) accessing the trust directly, and retail investors who purchase via UK Independent Financial Advisers. Distribution is provided through the LSE and a broad network of UK investment platforms including AJ Bell, Hargreaves Lansdown, Interactive Investor, Aviva, Transact, Nucleus, Bestinvest, and many others, alongside direct stockbrokers such as Barclays Stockbroker and Charles Stanley. Marketing is content-driven, centered on monthly Manager's Comments newsletters, video and YouTube content, insights articles, 'Ask AVI' events/webinars, and coverage in Trustnet, Portfolio Adviser, the Financial Times, and QuotedData. The technology stack supporting the strategy includes a proprietary in-house order management system with automated risk-parameter alerts, a bespoke ESG monitoring system integrated into the proprietary database with scoring against defined metrics, and detailed valuation models across the ~415-company universe. ESG integration is supported by ISS Norms-based research and exclusion screens for tobacco, controversial weapons, adult content, child labour, and human exploitation.
Economically, AGT generates revenue indirectly through the 0.70% management fee charged by AVI on AUM (part of a 0.85% ongoing expense ratio as of 31 October 2025) applied to £1.2 billion of total assets at 30 June 2026 (rising to over £1.3 billion at 31 January 2026). AUM has grown from £6 million at the time of AVI's 1985 appointment. Performance has averaged 11.4% annually (TR net of fees, GBP) over the 30 June 1985 to 30 June 2026 period, outperforming the benchmark by 2.5 percentage points per annum (11.5% vs 9.0%), and ordinary dividends have grown more than 6.5 times over the past 10 years. The current portfolio carries a weighted average discount of 42% to NAV. The wider Asset Value Investors franchise includes companion UCITS funds (AVI Global Special Situations, AVI Japanese Special Situations, AVI Worldwide Opportunities Fund, AVI Japan Discovery Fund) and additional investment trusts (AVI Japan Opportunity Trust, MIGO Opportunities Trust). Governance is provided by an independent board led by Independent Non-Executive Chairman Graham Kitchen.
AVI Global Trust firmographics
Firmographics- Name
- AVI Global Trust
- Legal name
- AVI Global Trust plc
- Website
- https://aviglobal.co.uk
- Company type
- Public
- Founded year
- 1889
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- AVI Global Trust plc is a London-listed closed-end investment trust (FTSE 250, ticker AGT) managing £1.2 billion globally. Externally managed by Asset Value Investors since 1985, it invests in undervalued holding companies, closed-end funds, and asset-backed special situations for professional and advised retail investors.
- Ownership category
- akta.pro rank
AVI Global Trust industry classification
Industry- Product category
- Closed-End Investment Trust
- NAICS
- Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- International/Ex-U.S. Developed Equity (Active) (FSAAAIAE)
- akta.pro secondary industry
- ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL)
Keywords
Where AVI Global Trust is headquartered
LocationHeadquarters
- HQ city
- Lancing
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
AVI Global Trust business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D
Revenue model
- Management Fees: Investment trust generates revenue through management fees charged on assets under management. The ongoing expense ratio is 0.85% including management fee of 0.70% and marketing and administration costs.
- Portfolio Investment Returns: Returns generated through investing in holding companies, closed-end funds, and asset-backed special situations trading at discounts to net asset value
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Ongoing Expense Ratio |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
AVI Global Trust product offering
Product offeringCore offering
AVI Global Trust is a closed-end investment trust listed on the London Stock Exchange (FTSE 250) that invests in global holding companies, closed-end funds, and asset-backed special situations. Managed by Asset Value Investors, it uses bottom-up fundamental research combining quantitative and qualitative techniques to identify valuation anomalies, building a concentrated portfolio of 30-50 stocks and engaging with portfolio companies to unlock shareholder value.
Product overview
AVI Global Trust operates as a single core investment trust product, supplemented by a suite of UCITS funds including AVI Global Special Situations, AVI Japanese Special Situations, AVI Worldwide Opportunities Fund, and AVI Japan Discovery Fund. Additionally, there are related investment trusts: AVI Japan Opportunity Trust and MIGO Opportunities Trust. The main AVI Global Trust is a closed-end investment trust that invests in global holding companies, closed-end funds, and asset-backed special situations, using a bottom-up fundamental research approach combined with engagement to unlock value. The UCITS funds provide alternative structures for investors seeking similar investment philosophies in UCITS-compliant formats.
Differentiator
Problem solved
Functional benefit
Products and services
- AVI Global Trust (AGT) A closed-end investment trust listed on the London Stock Exchange and part of the FTSE 250 index, providing expertly managed exposure to global holding companies, closed-end funds, and asset-backed special situations for retail, professional, and sophisticated investors.
- AVI Global Special Situations A UCITS-compliant fund focused on special situations investment opportunities within the global equity market.
- AVI Japanese Special Situations A UCITS-compliant fund focused on special situations investment opportunities in the Japanese equity market.
- AVI Worldwide Opportunities Fund A UCITS-compliant fund providing worldwide investment opportunities across global equity markets.
- AVI Japan Discovery Fund A UCITS-compliant fund focused on discovery-stage and emerging investment opportunities in the Japanese equity market.
- AVI Japan Opportunity Trust A separate investment trust focused on Japanese equity opportunities, managed by Asset Value Investors.
- MIGO Opportunities Trust An investment trust managed by Asset Value Investors focused on specific opportunity areas.
Quantifiable outcome
- 11.4% average annual return over 30+ year period (30 June 1985 to 30 June 2026), TR net of fees, GBP
- +3 more outcomes
Companies that use AVI Global Trust
Customer profileSegments2 records
Ideal customer profiles2 records
AVI Global Trust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
AVI Global Trust partnerships and signals
Strategic signalScale indicators6 records
Recent moves5 records
Expansion highlights4 records
AVI Global Trust competitors and assessment
Company assessmentDirect peers
- RIT Capital Partners: UK-listed investment trust focused on global equities with a long-term value-oriented approach and a similar mix of direct equities and exposure to alternative/listed funds, making it the closest large-cap peer to AGT.
- Caledonia Investments: UK-listed investment trust holding a globally diversified portfolio of public and private holdings with a value bias, comparable in size, structure, and long-term orientation to AGT.
- Personal Assets Trust: UK investment trust run with a multi-asset, capital-preservation focus; comparable as a London-listed, IFA-recommended closed-end fund targeting UK retail and professional investors.
- Hansa Investment Company: London-listed investment trust employing a focused, fundamentals-driven global value strategy, with similar use of holding-company structures and exposure to special situations.
- Brunner Investment Trust: FTSE 250 UK global equity investment trust with a multi-cap, value-tilted approach; comparable as a long-running UK closed-end fund aimed at retail and IFA channels.
- Value and Income Trust: UK-listed investment trust focused on undervalued UK and international equities, similar in closed-end structure, retail distribution model, and value-investing philosophy.
- Henderson Far East Income: UK-listed investment trust focused on Asia-Pacific equities including significant Japan/Korea exposure — directly comparable given AGT's 39% look-through exposure to those markets and similar closed-end fund distribution.
- AVI Japan Opportunity Trust: Sibling investment trust managed by the same Asset Value Investors team, applying a similar bottom-up special-situations approach to Japanese equities; a directly comparable product run by the same manager.
Broad incumbents
- Ruffer Investment Company: London-listed closed-end fund with a defensive multi-asset mandate and significant UK IFA penetration; comparable in trust structure and UK retail positioning, though its asset mix is broader than AGT's equity-focused portfolio.
Regional players
- HarbourVest Global Private Equity: Listed closed-end private equity fund-of-funds, one of AGT's own top 10 holdings and a representative example of the listed closed-end fund category that forms 31% of AGT's portfolio strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
AVI Global Trust social profiles
Digital presenceAVI Global Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
AVI Global Trust leadership team
Management profileNumber of profiles
Profiles16 records
AVI Global Trust funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AVI Global Trust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AVI Global Trust
What does AVI Global Trust do?
AVI Global Trust is a closed-end investment trust listed on the London Stock Exchange (FTSE 250) that invests in global holding companies, closed-end funds, and asset-backed special situations. Managed by Asset Value Investors, it uses bottom-up fundamental research combining quantitative and qualitative techniques to identify valuation anomalies, building a concentrated portfolio of 30-50 stocks and engaging with portfolio companies to unlock shareholder value.
Is AVI Global Trust a public or private company?
AVI Global Trust is a public company. It is classified as public and is currently operating.
When was AVI Global Trust founded?
AVI Global Trust was founded in 1889. It employs 1 to 10 people.
Where is AVI Global Trust based?
AVI Global Trust is headquartered in Lancing, United Kingdom, in the Europe region.
How does AVI Global Trust make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are portfolio Investment Returns.
Who are AVI Global Trust's main competitors?
Direct peers on record are RIT Capital Partners, Caledonia Investments, Personal Assets Trust, Hansa Investment Company, Brunner Investment Trust, Value and Income Trust, Henderson Far East Income and AVI Japan Opportunity Trust. Ruffer Investment Company is listed as a broad incumbent. HarbourVest Global Private Equity is listed as a regional player.
Does AVI Global Trust have an API?
No public API is recorded for AVI Global Trust.
What industry is AVI Global Trust in?
AVI Global Trust's product category is Closed-End Investment Trust. Its primary akta.pro industry code is FSAAAIAE, International/Ex-U.S. Developed Equity (Active), with a secondary code of FSANAJAL, ESG Integration / Responsible Investment Funds (Broad ESG). Its NAICS code is 523940 and its SIC code is 6282.