Hansa Investment Share Discussion Threads

[coolen] 02/12/2018 21:41

Pros and Cons for UK PIs ?

[topvest] 30/11/2018 20:30

Additionally, as you may have seen in our recent market announcement, given the political and economic uncertainty in the UK and following an initial consultation with shareholders, the Board is giving consideration to re-domiciling the Company to an alternative jurisdiction. Wow....that is quite a paragraph. I will vote against it, but surprised it hasn't got more airtime. Its the first such announcement I have seen. It seems to be more about tax planning for the Salomon family than the rest of us.

[topvest] 28/11/2018 20:33

Hansa Trust has a 106 year history. It would be a shame to break this. A UK investment trust should be domiciled in the UK. It would be very odd for Hansa to move in the opposite direction to many investment companies that are now re-domiciling in the UK from Guernsey, Jersey etc.

[coolen] 27/11/2018 21:38

Bearish aspect is that the domicile statement referred to Hansa having already consulted with "shareholders". Presumably institutions. Unless sealed lips, the subsequent share price action would suggest nothing exciting was discussed.

[topvest] 27/11/2018 08:35

Yes, could be connected with a break-up of Ocean Wilsons I suppose which is long overdue.

[coolen] 26/11/2018 22:53

A 3rd possibility relates to an RNS by Ocean Wilsons (OCN) on 17 July 2018 about a corporate reorganisation of Wilson Sons Limited, its main subsidiary. About which we have heard nothing further. Wilson Sons Limited has a Luxembourg(!!) Stock Exchange listing.

[topvest] 26/11/2018 19:41

Hmmm. Possibly the latter. The marginal rate of income tax was 98% in the late 60s - before my time, but if Corbyn gets in then Brexit will look like a walk in the park! He makes Blair and Brown look like Tories.

[coolen] 26/11/2018 17:05

Is it because the bulk of the assets are in Brazil ? Or does the controlling Salomon family fear a change of Government in the UK ?

[topvest] 26/11/2018 16:17

A very odd announcement this afternoon. Why would they want to re-domicile outside the UK when most investment vehicles are coming back rather than going away?

[sspurt] 09/10/2017 09:46

Coolen - I have a general rule only to buy the voters. Have not looked at the A shares here but as the Salomon family also have the voters and v few A shares that confirms it for me i.e follow the controlling interest.

[sspurt] 05/10/2017 10:06

Good to see a bit of progression here helped by a recovery at OCN. NAV growth almost respectable over the last 6m and disc still 28% so happy to hold. Still difficult to invest in value with any conviction but this is an exception for me.

[luckymouse] 22/9/2016 14:32

Spread can be a touch better on the A listing - not loving those wicks tho

[rogerbridge] 22/4/2016 09:02

Bought some today for the ISA. Very wide discount here and lots of value. Commodities on the up, particularly grains, soya etc that should help OCN in the future. Investment portfolio looks to be reasonably managed too.

[coolen] 21/4/2016 22:41

Well spotted Spooky. There's been a lumpy seller of the non-voters this week. By High Noon on Friday I expect to see them better.

[spooky] 21/4/2016 12:26

In view of the move in OCN i'm surprised that there hasn't been more interest in HAN.

[topvest] 12/9/2015 15:21

Hold OCN as well and just been reading their interims. They seem to be doing pretty well given the headwinds in Brazil and the oil sector. Hold HAN and OCN, but I prefer HAN - the maths are pretty compelling. OCN is on a 25% discount to its net asset value - £8 versus £11 NAV or a 25% discount. HAN is on a c30% discount so there is a double discount on a 1/3rd of the portfolio represented by OCN. Excellent value!

[topvest] 11/9/2015 15:26

Doubled up on Hansa Trust today. They are on an enormous discount (getting on for 30%) which is unjustified given their strong overall long term performance in my view. There is also still value in the Ocean Wilson holding in my view particularly if the investment portfolio is demerged and also from the Brazilian business which should do well long term anyway.

[stpalm] 14/7/2015 08:10

hopefully they dont suffer from the short termism that's so common nowadays in the market

[sspurt] 25/6/2015 15:48

At this level i am a fan for the long term. Difficult to find value in this market and with discounts on discounts of 25% each time this has attractions. Difficult to say when Brazil is going to turnaround but at least one is not getting in at the top with Wilson Sons. Bit of stock around too at the mo altho it can be patchy

[ryandj2222] 24/6/2015 10:11

I quite like it too. Broad remit, international focused investment trust. It makes up a fair bit of my SIPP.

[stpalm] 21/6/2015 23:26

Like this one, good discount too. anyone got any thoughts?