Edison issues review on Hansa Trust (HAN/HANA)

RNS Number : 4163F

Hansa Trust PLC

12 July 2019

 

London, UK, 12 July 2019

Edison issues review on Hansa Trust (HAN/HANA)

Hansa Trust (HAN/HANA) is arguably unique in its sector, with a portfolio made up of global equities, regional and thematic funds, diversifying (mainly hedge) funds and a large strategic position in Ocean Wilsons Holdings (OWHL), which in turn has a majority stake in Brazilian maritime services company Wilson Sons (WSON). Lead Manager Alec Letchfield's focus on capital preservation as well as growth has enabled the portfolio to outperform UK and global equity indices in the recent stock market volatility, with new holdings such as Selwood Asset Management Liquid Credit Strategy already having a positive impact. The trust has recently published proposals to redomicile to Bermuda (see Recent developments).

At 11 July 2019, Hansa Trust's A-shares traded at a 31.8% discount to cum-income NAV, which is a little above the average discounts over one, three and five years. Because the strategic holding in Ocean Wilsons also trades below NAV, the look-through discount to NAV is higher, at 39.4%. Hansa Trust's discount is well above the average for its peer group, which could afford an element of downside protection to the share price in a market downturn, given it has rarely exceeded 35% even during periods of very poor sentiment towards equities.   

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