John Pennink, LLB, CFA
John Pennink joined Asset Value Investors in 1999. He worked closely with John Walton on British Empire Trust and the endowment portfolios for 6 years. He has been joint manager of British Empire Trust since 2001 and is now the sole manager.

John spent 3 years as a fund manager in Hong Kong with Regent Pacific from 1994 to 1997. He then spent two years investing in emerging European markets while based in Moscow with Regent Pacific and EPIC Securities.

John has a law degree from the University of British Columbia and qualified as a Chartered Financial Analyst in 1999.

Joe Bauernfreund, BSc, MSc
Joe joined Asset Value Investors in July 2002 as Investment Analyst, following completion of a Masters in Finance from the London Business School. Joe is joint manager with John Pennink on some of the client portfolios as well as supporting the manager of British Empire Securities and General Trust plc.

Prior to joining Asset Value Investors, Joe worked 6 years for a real estate investment organisation in London.

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