Hansa Investment Company

LN: HANA

Market Cap£75m

Last Close 188p

HANA was created in 2019 through the redomiciliation of Hansa Trust from the UK to Bermuda. It aims to achieve medium- to long-term growth through a diversified, multi-strategy approach, combining a strategic stake in OWHL with a portfolio of global equities and predominantly third-party managed funds, giving access to primarily non-UK equities, along with more thematic and diversifying funds. Hansa IC does not have a benchmark.

More Hansa Investment Company content >

Investment summary

Hansa Investment Company (HAN/HANA) fund manager Alec Letchfield argues that investors should not be overly distracted by the fund’s exposure to Brazil through a c 11% position in maritime services company Wilson Sons (WSON). While the holding could prove beneficial as global economic growth and trade continue to recover, the remaining c 90% of the portfolio is much more significant, and Hansa IC’s persistent 30%+ discount to NAV is arguably unwarranted given its healthy mix (via funds and direct equities) of growth, value and defensive/uncorrelated strategies. Recent performance has shown an improving trend versus peers, and a 13.3% local currency increase in WSON’s share price since the start of 2020 (outperforming the main Bovespa Index by 11.5pp) has not been reflected in Hansa IC’s discount to NAV, which moved by just 0.4pp from 33.9% to 34.3% (A shares) from 1 January 2020 to 4 May 2021.

Content on Hansa Investment Company
Hansa Investment Company – Brazil – game-changer or sideshow?
Investment companies | research Review | 6 May 2021
Hansa Investment Company – Overdue a reappraisal?
Investment companies | research Update | 20 November 2020
Hansa Investment Co (HAN); interim results: NAV decreases to 278.5p
Investment companies | Edison Sparks | 16 December 2019
Company profile - Aberdeen Asian income fund feature image - 28062019- JPGmoney & pens
View more
Register to receive research on Hansa Investment Company as it is published
Sector
Investment companies
Access more Investment companies content
Share price graph
Price performance
%
1m
3m
12m
Actual 0.0 (2.1) (20.3)
Relative* 4.4 4.3 (17.6)
52-week high/low 236.0p/185.0p
*% relative to local index
Key management
Jonathan Davie Chairman
Alec Letchfield Chief Investment Officer
Stephen Thomas Chief financial officer

You may also be interested in…