Hansa Trust PLC Edison issues review on Hansa Trust (HAN)
01 February 2019 - 3:53AM
RNS Non-Regulatory
TIDMHAN
Hansa Trust PLC
31 January 2019
London, UK, 31 January 2019
Edison issues review on Hansa Trust (HAN)
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 GBP1.56 of
assets for each GBP1 invested.
At 30 January, Hansa Trust's A-shares traded at a 29.0% discount
to cum-income NAV, with the ordinary shares at a 23.4% discount.
The A-share discount is broadly in line with the one-, three- and
five-year averages, although markedly narrower than the 10-year
high of 36.9% seen in mid-2016. The board seeks to reduce the
discount by raising awareness and understanding of the trust,
rather than by undertaking share buybacks, which would reduce the
asset base and inflate the size of the OWHL holding as a percentage
of total assets. Hansa Trust currently yields 1.6%.
Click here to view the full report.
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For more information please contact Edison:
Sarah Godfrey, +44 (0)20 3681 2519
Gavin Wood, +44 (0)20 3681 2503
investmenttrusts@edisongroup.com
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