AVI Japan Opportunity Trust Plc (AJOT) 2024年年度报告「LSE」.pdf

1、Engage.Improve.Transform.Annual Report 2024AN ACTIVE APPROACH TO INVESTING RESPONSIBLYAs an active investor,AVI considers all drivers relevant to each companys success,offering suggestions to enhance sustainable corporate value in consideration of all stakeholders and in the best long-term interest

2、of our clients.We aim to build strong relationships with the boards and management of our portfolio companies.Through constructive engagement,we encourage and expect them to take meaningful action in the context of long-term value creation.AVI Japan Opportunity Trust plc(“AJOT”or“the Company”)invest

3、s in a focused portfolio of quality small and mid-cap listed companies in Japan that have a large portion of their market capitalisation in cash or realisable assets.Net assets:212 million*Launch date:23 October 2018 Annualised return:8.9%*Ongoing Charges Ratio:1.5%*For all Alternative Performance M

4、easures,please refer to the definitions in the Glossary on pages 74 and 75.*Annualised return net of fees(in GBP)as at 31 December 2024.Annual Report/WelcomeAnnual Report 2024Portfolio construction Screening of the universe Approach Principles Def ning E,S&G Stewardship Purpose PhilosophyResearch Fi

5、ltering Read more about our ESG Perspective on pages 34 and 35 of the Annual ReportAVI Japan Opportunity Trust plc/Annual Report 2024212080100120140160180Oct 18Apr 19Oct 19Apr 20Oct 20Apr 21Oct 21Apr 23Oct 24Apr 24+70%+63%+23%Oct 23Apr 22Oct 225010015020006SStrategic ReportOverview of the YearSStrat

6、egic Report08A New Wave in Japan03SStrategic ReportOur PerformanceCONTENTS Strategic Report:Company Performance 02Company Overview 04Chairmans Statement 06Case Study 08Our Top 10 Holdings 10Investment Managers Report 12Portfolio Construction 22AVI Japan Investment Team 23Investment Portfolio 24Busin