AVI’s Newsletter Podcast

AJOT’s NAV decreased by -0.5% (in GBP) and -0.2% (in JPY) over the month, while the benchmark returned +2.0% (in GBP) and +2.2% (in JPY).   View AJOT's September 2025 factsheet here   Visit the fund page here   //About us: Asset Value Investors (“AVI”) have been investing in Japan for three decades. AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AVI Japan Opportunity Trust (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AJOT’s NAV decreased by -0.5% (in GBP) and -0.2% (in JPY) over the month, while the benchmark returned +2.0% (in GBP) and +2.2% (in JPY).   View AJOT's September 2025 factsheet here   Visit the fund page here   //About us: Asset Value Investors (“AVI”) have been investing in Japan for three decades. AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AVI Japan Opportunity Trust (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AJOT’s NAV decreased by -0.5% (in GBP) and -0.2% (in JPY) over the month, while the benchmark returned +2.0% (in GBP) and +2.2% (in JPY).   View AJOT's September 2025 factsheet here   Visit the fund page here   //About us: Asset Value Investors (“AVI”) have been investing in Japan for three decades. AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AVI Japan Opportunity Trust (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

In September, MIGO’s NAV was up 0.9%.   View the September 2025 factsheet here   //About us: Asset Value Investors (“AVI”) focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. MIGO Opportunity Trust p.l.c is referred to as ‘MIGO’ throughout the channel. MIGO's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in MIGO Opportunities (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV was flat in September.   View the September 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV was flat in September.   View the September 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AJOT’s NAV increased by +2.4% (in GBP) and +2.0% (in JPY) over the month, while the benchmark returned +5.2% (in GBP) and +4.7% (in JPY).   View AJOT's August 2025 factsheet here   Visit the fund page here   //About us: Asset Value Investors (“AVI”) have been investing in Japan for three decades. AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AVI Japan Opportunity Trust (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AJOT’s NAV increased by +2.4% (in GBP) and +2.0% (in JPY) over the month, while the benchmark returned +5.2% (in GBP) and +4.7% (in JPY).   View AJOT's August 2025 factsheet here   Visit the fund page here   //About us: Asset Value Investors (“AVI”) have been investing in Japan for three decades. AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AVI Japan Opportunity Trust (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV increased by +0.3% in August.   View the August 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV increased by +0.3% in August.   View the August 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

August was a weak month for MIGO, with its NAV down -1.1%.    View the August 2025 factsheet here   //About us: Asset Value Investors (“AVI”) focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. MIGO Opportunity Trust p.l.c is referred to as ‘MIGO’ throughout the channel. MIGO's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in MIGO Opportunities (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AJOT’s NAV increased by +3.6% (in GBP) and +4.2% (in JPY) in July, while the benchmark returned +3.7% (in GBP) and +4.3% (in JPY).   View AJOT's July 2025 factsheet here   Visit the fund page here   //About us: Asset Value Investors (“AVI”) have been investing in Japan for three decades. AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AVI Japan Opportunity Trust (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AJOT’s NAV increased by +3.6% (in GBP) and +4.2% (in JPY) in July, while the benchmark returned +3.7% (in GBP) and +4.3% (in JPY).   View AJOT's July 2025 factsheet here   Visit the fund page here   //About us: Asset Value Investors (“AVI”) have been investing in Japan for three decades. AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the channel. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AVI Japan Opportunity Trust (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV increased +5.8% in July.   View the July 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV increased +5.8% in July.   View the July 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV increased +5.8% in July.   View the July 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

MIGO’s NAV was up +1.5% in July.   View the July 2025 factsheet here   //About us: Asset Value Investors (“AVI”) focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. MIGO Opportunity Trust p.l.c is referred to as ‘MIGO’ throughout the channel. MIGO's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in MIGO Opportunities (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV increased +1.6% in June.   View the June 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV increased +1.6% in June.   View the June 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.

AVI Global Trust’s (AGT) NAV increased +1.6% in June.   View the June 2025 Factsheet here    //About us: AVI focuses on undervalued companies with resilient and growing earnings that investors overlook due to non-fundamental factors. AVI Global Trust p.l.c is referred to as ‘AGT’ throughout the channel. AGT's investment managers, Asset Value Investors are referred to as ‘AVI’. //IMPORTANT INFORMATION AVI is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is a registered investment adviser with the Securities and Exchange Commission of the United States. While AVI is registered with the SEC as an investment adviser, it does not comply with the Advisers Act with regard to its non-U.S. clients. This podcast does not constitute an offer to buy or sell shares in AGT (the "Trust"). The contents of this podcast are not intended to constitute, and should not be construed as, investment advice. Potential investors in the Trust should seek their own independent financial advice. AVI neither provides investment advice to, nor receives and transmits orders from, investors in the Fund.