Our Trusts & Funds
AVI Value Fund
Performance Record
...we believe in keeping risks to a minimum and focusing on the long termThe philosophy stresses economic return and absolute (as opposed to relative) value and this often means buying out-of-favour securities and selling into periods of enthusiasm.
This disciplined approach can lead to periods of underperformance if large capitalisation index stocks are racing ahead as in 1997 and 1998. During this rather uncomfortable period AVI funds were buying cheap securities which produced excellent returns. Subsequently, AVI funds took profits in 1999 and 2000 moving substantially into cash which, in respect of one client, represented nearly 50% of assets.
Overall, since the inception of the firm, AVI client funds have substantially outperformed peer groups and benchmarks:
| British Empire Securities & General Trust plc | 1,835.2% |
| MSCI World (£adj) | 653.5% |
Since 30 June 1985, total return (£) performance to 31 December 2009
Percentage Growth
‡| 2005 46.1% return |
2006 7.4% return |
2007 9.0% return |
2008 -23.2% return |
2009 25.0% return |
Source: Fundamental Data, (£) NAV Total Return Performance to 31 December 2009
| The European Asset Value Fund | 461.5% |
| European Public Real Estate Association | 306.2% |
Since inception, 31 August 1994, total return (€) performance to 31 December 2009
Percentage Growth
‡| 2005 43.9% return |
2006 35.1% return |
2007 -17.6% return |
2008 -48.9% return |
2009 35.6% return |
Source: Fundamental Data, Bloomberg (€) NAV Total Return Performance to 31 December 2009
‡ Past performance is not a guide to the future. The value of your investments and the income from them can go down as well as up. You may not get back the full amount you have invested.