Hansa Trust

LN: HANA

£164.8m market cap

1030p last close

Hansa Trust seeks to grow shareholder value by investing in a portfolio of quoted and unquoted investments, which may not normally be available to the general public. The trust combines a strategic stake in OWHL with a portfolio of global equities and predominantly third-party managed funds, giving access to primarily non-UK equities and more thematic and diversifying funds. Since end-FY17, Hansa Trust has not had a benchmark, but measures its performance against a number of key performance indicators, including the FTSE Gilts All Stocks Total Return index, the rate of CPI inflation, and the MSCI AC World index.

Investment summary

Hansa Trust (HAN/HANA) benefited from the diversification of its portfolio in 2018, with its strategic holding in Brazilian maritime services firm Wilson Sons (WSON) and its defensive allocation to hedge funds helping it to post a small positive NAV return, in contrast to most world equity markets. Fund Manager Alec Letchfield is mindful of the challenges facing the global economy in the year ahead, but remains cautiously optimistic for a more positive investment backdrop. Letchfield has transitioned Hansa Trust to a more dynamic approach over the past five years, and the portfolio is now made up of five principal segments: Ocean Wilsons Holdings (OWHL, which includes the WSON stake); core regional funds; thematic funds; diversifying funds (including hedge funds); and direct global equities. As Hansa Trust and OWHL both trade at a discount to NAV, investors effectively gain exposure to £1.56 of assets for each £1 invested.

Share price graph
Price performance
%
1m
3m
12m
Actual 5.1 3.3 4.0
Relative* 2.3 0.7 5.5
52-week high/low 1075.0p/965.0p
*% relative to local index
Key management
Alex Hammond-Chambers Chairman
Alec Letchfield Chief Investment Officer
Stephen Thomas Chief financial officer

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