Our companies finished reporting their earnings for a hugely important quarter which we had hoped would prove to the market the quality of our portfolio and continue the V-shaped earnings recovery. It is fair to say we have been pleasantly surprised by the strength of the earnings recovery. 19 of 27 companies reported year-on-year profit growth while 20 reported quarter-on-quarter growth for an average growth rate of 27% and 23% respectively.
AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the website. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’