Hansa Investment Company — Combination heralds a bigger, simpler structure
18/06/2025
Hansa Investment Company (HICL) yesterday announced that its board has reached a preliminary agreement with Ocean Wilsons’ board on the terms of a possible all-share combination. Under the deal, Hansa would acquire Ocean Wilsons’ entire share capital, creating an investment company with total assets of >£900m. This transaction would build on Hansa’s existing significant shareholding in Ocean Wilsons, which it has held for over 66 years, and represents a further simplification of the group structure following Ocean Wilsons’ recent sale of its 56% interest in Brazilian port and maritime logistics company Wilson Sons. The deal has the support of the long-term, strategic shareholders of both Hansa and Ocean Wilsons.
Inside the mind of the investor: Hansa Capital Partners
11/10/2024
The importance of being invested, and diversified – A conversation with Alec Letchfield of Hansa Capital Partners
Hansa Investment Company — Brazil – game-changer or sideshow?
06/05/2021
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.