AVI Japan Opportunity to offer exit opportunity as directors urge shareholders not to participate

Set part of prospectus

The board of the AVI Japan Opportunity trust is triggering its exit opportunity clause for clients, but the directors will not be participating in the tender offer.

As per the trust's original investment thesis when it launched in October 2018, it permitted that the directors may, at their discretion, offer a full or a partial exit opportunity to shareholders in October 2022 and every two years thereafter. Asset Value Investors launches open-ended version of £200m Japan Opportunity trust The rationale behind including the exit opportunity was to ensure that if the original investment thesis did not generate the expected returns, or if "circumstances had changed to make Japan unattractive", then shareholders would have the chan...