Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
AVI Global Trust's NAV fell 5% in H1 2026, underperforming its benchmark by 710bps, as Iran war volatility drove portfolio discounts to historically extreme 42% levels. Asian holdings led contributions before March selloff. Toyota Industries takeover at ¥20,600 generated £100m proceeds, moving the fund to net cash with £140m deployment capacity. South Korea weight doubled to 15%. Manager sees compelling value with catalysts from governance reform and strategic reviews across Japan and holding company portfolio.
Full Quick Take
AVI Global Trust's NAV fell 5% in H1 2026, underperforming its benchmark by 710bps, as Iran war volatility drove portfolio discounts to historically extreme 42% levels. Asian holdings led contributions before March selloff. Toyota Industries takeover at ¥20,600 generated £100m proceeds, moving the fund to net cash with £140m deployment capacity. South Korea weight doubled to 15%. Manager sees compelling value with catalysts from governance reform and strategic reviews across Japan and holding company portfolio.
East 72 Dynasty Trust delivered a strong 24.7% return for FY25 and identifies major unlockable value in European and Asian holding companies trading at deep discounts, specifically Bolloré and CK Hutchison.
Full Quick Take
East 72 Dynasty Trust delivered a strong 24.7% return for FY25 and identifies major unlockable value in European and Asian holding companies trading at deep discounts, specifically Bolloré and CK Hutchison.
