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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.£155.6m
Last close972.50p
High / Low (52 weeks)1075.0p / 965.0p
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) has undergone a transformation in the past four years and now offers investors a blend of core regional equity funds; thematic exposure to areas including technology; diversifying assets such as hedge funds; direct holdings in global equities; and a longstanding strategic stake in Brazilian maritime services firm Wilson Sons (WSON). The aim is to preserve and grow capital, while giving investors access to assets they would be unable or unlikely to access individually. Possibly as a result of the c 30% holding in Ocean Wilsons Holdings (the majority owner of WSON) and the dual share classes with the majority of voting shares owned by the Salomon family, Hansa Trust has tended to trade at a wide discount to NAV. However, manager Alec Letchfield notes that in an environment of extended equity market valuations, this could be viewed as a margin of safety compared with funds that trade close to or above NAV.

Last updated on 01/05/2018

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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