Agreement to sell AVI to Pacific Asset Management

AVI Global Trust PLC

04 August 2026

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.

4 August 2026

AVI Global Trust plc

("AGT" or the "Company")

Agreement to sell AVI to Pacific Asset Management

The Board of AVI Global Trust plc notes the announcement, link, today from Asset Value Investors Limited ("AVI"), the Company's AIFM and investment manager, that AVI is to be acquired by Pacific Asset Management ("Pacific"), the London-based multi-boutique asset manager and part of the Pinnacle Investment Management group, subject to certain conditions, including regulatory approval.

Pacific and AVI have confirmed to the Board that the transaction will not involve any change to the AIFM that manages the Company's investment portfolio, to the investment team led by Joe Bauernfreund and supported by Tom Treanor, nor to the investment philosophy and process applied to the Company's portfolio. There will be no change as a result of the transaction to the Company's investment objective and policy, nor to its management fees. AVI will retain its brand and continue to operate as an independent boutique within Pacific, with access to a broader distribution network and to Pacific's operational and technology platform.

Graham Kitchen, Chairman of AVI Global Trust plc, commented:

"AVI has managed the Company with a consistent and disciplined approach to investment for over forty years. Representatives of the Board have met members of the senior management team at Pacific and been reassured that our investment management team will be unchanged and will continue to manage our shareholders' assets independently, while benefiting from the support of a larger organisation.  We look forward to a long and supportive relationship with Pacific."

Joe Bauernfreund, Chief Executive Officer and Chief Investment Officer of Asset Value Investors, commented:

"Our team, philosophy and process are entirely unchanged: Pacific's decision to acquire AVI represents an investment in AVI's future, and in the future of AVI Global Trust. It allows us to draw on Pacific's broader distribution, technology and operational depth to support the growth of the investment trusts that we manage."

Matthew Lamb, Chief Executive Officer of Pacific, commented:

"I have long been an admirer of what Joe and his team have achieved at AVI. They have fostered an outstanding reputation for disciplined value investing and active engagement on behalf of clients. They embody the specialist, craft investment management approach which is fundamental to Pacific's values, and we are hugely looking forward to working with them.

By combining AVI's investment capabilities with Pacific's robust operating platform, we can free up Joe and his team's time to focus on investment and generating alpha for clients. Together we can create an even stronger business that is well positioned for future growth while maintaining the investment philosophy and culture that have underpinned AVI's success".

ENDS

For further information, please contact:

KL Communications - Financial PR

[e-mail]  /  Charles Gorman  /  Henry Taylor

Notes to editors

AVI Global Trust plc - www.aviglobal.co.uk

AVI Global Trust plc ("AGT") was established in 1889 and currently has £1.3 billion* of assets.  AVI Global Trust ("AGT") provides expertly managed exposure to the opportunities presented in various parts of the world. The investment strategy identifies valuation anomalies to create a concentrated, unique and diversified portfolio of stocks. The investment manager then engages with these companies to improve shareholder value.

AVI - www.assetvalueinvestors.com

AVI is an investment management company established in London in 1985. AVI manages AVI Global Trust plc, AVI Japan Opportunity Trust plc and MIGO Opportunities Trust plc, all investment companies whose shares are listed and traded on the main market of the London Stock Exchange. AVI manages £2.1 billion* across all its products. AVI's investment philosophy is grounded in the belief that capital markets frequently misprice complexity, particularly in markets where corporate governance is opaque, asset transparency is low, or conglomerate structures obscure underlying value. We identify these inefficiencies through a research-intensive process that specialises in discovering companies trading at material discounts to intrinsic value, with a focus on active engagement to unlock and grow that value.

Pacific Asset Management - www.pacificam.co.uk
Pacific Asset Management is an asset manager founded in 2016 responsible for over £18.4 billion* of assets. Pacific is headquartered in London. Pacific is a fresh and progressive asset manager, rethinking the conventions of how asset management works for advisers, institutions, investors, asset owners and the industry.

*As at 30 June 2026

 

END