ASSET VALUE INVESTORS LIMITED

Asset Value Investors (AVI) was established in 1985 to manage the assets of one of the oldest listed investment companies in London. Their distinctive approach is investing in family-controlled holding companies, closed-end funds, and asset-backed situations. Today AVI manages over 1.8bn* across all its products. AVI strives to identify valuation anomalies and focusing on investing where the market price does not reflect the estimated intrinsic value. Their aim is to deliver long-term return returns with relatively low volatility by: Investing in companies and funds trading on a discount to their net asset value, Identifying good quality underlying assets with appreciation potential at compelling values, Offering a specialist bottom-up research driven approach, Employing over three decades of investment experience to look for catalysts to narrow discounts, Actively engaging with management and Boards to release hidden value and Taking a long term benchmark agnostic approach.