Hansa Trust (HAN) (HANA)

Business description

Hansa Trust seeks to achieve growth of shareholder value through investing in a portfolio of special situations. The Salomon family trust has a majority holding in the ordinary (voting) shares of 52.8% and also exercises influence over the largest investment, Ocean Wilsons, through the combination of the Hansa Trust holding and a direct holding giving a shareholding of over 50%. Ocean Wilsons in turn owns 58.25% of Wilson Sons, a quoted Brazilian marine services company. Both Hansa Trust and Ocean Wilsons are run with a long-term view and portfolio turnover is typically very low. The trust has an absolute benchmark: the rolling three-year average of a five-year UK government bond plus 2%.

Stock data

Market cap.£156m
Last close975.00p
High / Low (52 weeks)1030.0p / 854.2p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

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Company news

Investment summary

Hansa Trust (HAN/HANA) seeks to be differentiated from peers by giving investors access to a portfolio of global equities, specialist funds and a strategic (c 20%) holding with exposure to Brazil, which began as a small position but has grown as a result of superior long-term performance. There is a long-term bias to equities but the focus on preserving and growing capital means that, at certain points in the cycle, the manager may invest more in defensive assets to dampen volatility. Strategy changes since the start of FY15 appear to be bearing fruit and recent NAV and share price performance have been strong, yet Hansa Trust remains at a wide discount to NAV relative to peers. This provides scope for the discount to narrow substantially should the positive performance trend be maintained.

Last updated on 25/07/2017

Key management

Alex Hammond-Chambers, Chairman
Alec Letchfield, Chief Investment Officer

Company address

50 Curzon Street
London
W1J 7UW
United Kingdom
+44 (0)20 7647 5750
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