AVI Japan Opportunity Trust - Update from QuotedData
7th August 2024
Pushing on an opening door
The scale of the outperformance delivered by AVI Japan Opportunity Trust (AJOT) versus its MSCI Japan Small Cap benchmark is impressive (38 percentage points since launch) and demonstrates the success of its efforts to promote good corporate governance within the stocks in its portfolio. The manager says that Japanese corporates have become less resistant to change, but there is still a lot to do.
It is important to note that AJOT's success has come despite a weak currency, small-cap underperformance (small caps are AJOT's hunting ground), and foreign investors still having a substantial underweight exposure to Japanese equities. These factors could swing in AJOT's favour, but the manager believes that AJOT can thrive regardless.
We feel that AJOT's performance and prospects are such that its shares should be trading at asset value and expanding. Currently it trades on a discount of 4.8%.
Full Research:
https://quoteddata.com/research/avi-japan-opportunity-pushing-on-an-opening-door-qd/
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NB: Marten & Co was paid to produce this note on AVI Japan Opportunity Trus Plc, and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
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