Asset Value Investors is set to launch UCITS versions of its Global and Japanese equity strategies in the first quarter of 2024. 

The funds will mirror the firm's AVI Global trust (AGT), which manages £1.1bn of assets, as well as the AVI Japan Opportunity trust (AJOT), which runs £180m. 

Joe Bauernfreund, AVI's chief executive officer and chief investment officer, will manage the new UCITS funds, supported by the firm's research team. 

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"Building upon our nearly 40-year track record in global equities, and our five-year track record of demonstrable success as an active and engaged investor in Japan, we believe the time is right to open our offering up to a new class of UCITS investors," he said.

"After decades of ever lower interest rates we are firmly in a different regime, with higher rates and quantitative tightening presenting a challenge for equities generally."

He added: "We believe the baton is being passed firmly back to stock pickers. It is an opportunity rich environment and one where engagement and a focus on investments with explicit catalysts will be key levers to drive absolute and relative returns."

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The AVI Global trust, which launched in 1985 after AVI won the British Empire trust mandate, has returned 32.5% in share price terms in the last three years, while the Global AIC sector is down 12.6%, according to data from the Association of Investment Companies.

In net asset value terms, the trust is up 32.9% over the period, while the sector has lost 4.6%.

Launched in 2018, AVI Japan Opportunity's share price has gained 6.8% in the last three years, while the Japanese Smaller Companies AIC sector is down 34.1%. Its NAV total return is up 11.5%, while the sector is down 27.2%.