9AT: ASSET VALUE INVESTORS LIMITED

other names

Adviser Profile

As of Date	12/20/2023
Adviser Type - Large advisory firm - Outside the United States
Number of Employees	19
of those in investment advisory functions	11 10.00%
Registration	SEC, Approved, 01/19/2006

AUM^*	1,570,958,467 14.69%
of that, discretionary	1,570,958,467 14.69%
Private Fund GAV^*	22,546,523
Avg Account Size	224,422,638 31.07%
% High Net Worth	< 0.01% -100.00%
SMA’s	Yes
Private Funds	2
Contact Info	44- xxxxxxx
Websites

Client Types

- Investment companies
- Pooled investment vehicles
- State or municipal government entities

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Fund Type	Count	GAV
Fund TypeOther Private Fund	Count2	GAV$22,546,523

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser XP ADVISORY US, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund163.7k	Total Private Fund GAV163.7k	AUM1.5b	#Funds1
Adviser MOODY, LYNN, LIEBERSON & WALKER, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund13.2m	Total Private Fund GAV13.2m	AUM1.6b	#Funds1
Adviser CLARET ASSET MANAGEMENT CORP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund297.3m	Total Private Fund GAV297.3m	AUM1.8b	#Funds7
Adviser ADELANTE CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund8.4m	Total Private Fund GAV8.4m	AUM1.6b	#Funds2
Adviser INTEGRAL ILS LTD.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund2.6b	Total Private Fund GAV2.6b	AUM2.6b	#Funds7
Adviser PHOENIX ASSET MANAGEMENT PARTNERS LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.9b	#Funds-
Adviser ARTEMIS WEALTH ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund13.9m	Total Private Fund GAV13.9m	AUM1.6b	#Funds1
Adviser NEWPORT ASIA LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund666.0m	Total Private Fund GAV666.0m	AUM666.0m	#Funds5
Adviser EAM GLOBAL INVESTORS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund392.4m	Total Private Fund GAV392.4m	AUM1.4b	#Funds2
Adviser BLUEPRINT CAPITAL ADVISORS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund253.9m	Total Private Fund GAV253.9m	AUM1.6b	#Funds5

Brochure Summary

Overview

Asset Value Investors Limited (“AVI” or the "Firm") is a majority employee-owned asset management company. Our primary goal is to achieve the long-term growth of our Clients’ capital through the management of a global stock portfolio. We strive to be a premier investment firm providing consistently strong performance relative to applicable benchmark indices by identifying valuation anomalies and focusing on investing where the market price does not reflect the estimated intrinsic value. Our value oriented and low risk investment approach, which has been in place for over 30 years, is to find undiscovered value among high quality assets. AVI - investment philosophy
• Buy companies on substantial discounts to net asset value
• Investment holding companies on wide discounts
• Companies with a strong balance sheet and good quality of underlying assets
• Seek anomalies
• Under-researched situations
• Situations where the underlying assets are not recognized or are misunderstood by the market AVI currently manages on a discretionary basis approximately $1,570,958,000 of regulatory assets as of 30 September 2023. The Firm was established in 1985 under UK law and is principally owned by its staff (75.36%) and Goodhart Partners LLP (24.64%). The

Firm provides discretionary investment management services for various pooled investment vehicles (the “Funds”), both foreign and domestic, and segregated accounts (Funds and other entities or persons advised by AVI hereinafter the "Client" or collectively the "Clients"). AVI generally does not tailor its advice to the needs of individual investors in the Funds, although the Firm is flexible with Clients in segregated accounts. Items 5 and 6 – Fees and Compensation AVI receives a management fee based on assets under management. AVI’s fees are generally not negotiable. However, the Firm may charge lesser fees to a particular Fund investor based upon AVI’s relationship with the investor, assets invested by the investor, the timing of the investment, and other factors deemed relevant by the Firm. Fees are included in the NAV calculation and are generally deducted from the Funds on a monthly basis. AVI also receives a specified management fee from each segregated account and advisory Client pursuant to the investment management agreement. AVI does not currently enter into performance-based fee arrangements. Clients may also expect to pay custodian fees in connection with the Funds as well as incur brokerage and other transaction costs, discussed in Item 12 below.

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ASSET VALUE INVESTORS LIMITED

Adviser Profile

Details

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

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Brochure Summary

Overview