Hansard Global Share Discussion Threads

[papy02] 09/2/2011 11:12

I hold Hansard in an ISA, so not a practical concern for me.

But just to give you a choice of views :-)

It is my understanding you do receive a 1/9 tax credit.

See page FN9

I would say Hansard qualifies for tax credit under rule 1.

(N.B. the fact that eg Selftrade incorrectly show foreign dividends without tax credit doesn't mean there isn't one)

Alternative views welcome :-)

[tatie] 09/2/2011 10:09

lynton3 - It's my understanding that you don't receive a 10% tax credit. The dividend is effectively paid gross outside an ISA or SIPP and you will pay the 10% tax through (presumably) your self assesssment return calculation. Much better held within a wrapper.
Please research it further via HMRC site (or the company).

[lynton3] 08/2/2011 23:15

Before I invest in HSD, can someone please help me with the tax treatment of dividends from Hansard if the shares are held outside an ISA/SIPP - do you receive a 10% tax credit? Thanks in advance

[loganair] 04/2/2011 12:14

What really attracts me to Hansard is how the CEO only takes £1 in annual salary with the rest coming from the dividends of the 40% plus of the shares he owns in Hansard.

This means that the dividend policy of Hansard is more important than the share price, unlike with most companies where the CEO's pay is connected to the share price of a particular company.

Also living in the Middle East as I once did, I know exactly how a company like Hansard operates and what their type of clients are like.

[envirovision] 04/2/2011 10:04

a good thread on MF, I thought SteMiS4 post Number: 131471 of 131561 pretty much hit the nail on the head.

[chrisb1103] 03/2/2011 22:38

Yeah here for those interested in a read:



Whatever the outcome of that debate... HSD are pulling in the business and it's still a cracking yield :)

[stemis] 29/1/2011 08:34

There is a thread running on TMF about HSD but to be honest I'm somewhat disappointed at the misinformation and lack of basic research being displayed on it. I think HSD is just too hard for some to understand (fair enough) but they aren't prepared to put in the effort to rectify that before they comment.

[loganair] 28/1/2011 17:48

davidosh - Don't forget the yearly at least 1 1/2% management fee. The more ones investment is worth, the higher in pound terms in the management fee.

So even if the £100,000 policy remained the same value and ran for 10 years, would mean at least £15,000 in management fees.

It costs approximately £17.5m to run Hansard a year and with £1.3 billion under management would bring in at least £19.5m just in management fees.

So Hansard are already in profit before one adds in any commission for new business.

Also the spread between the bid and offer price on most their funds is over 9%.

[davidosh] 28/1/2011 13:45

So the majority of fees/commissions are up front. How the company account for these will be important and how aggressive the policy as presumably there may be clawback or monies returned if policies cancelled early ?

[loganair] 28/1/2011 12:15

davidosh - I use to work in the Middle East and I was offered a similar product by a similar company to Handsard.

What happened in my case if I had taken it, minimum investment £100,000, that the Finance Investment company takes an up front fee of 9% or £9,000. £1,500 goes to the Intermediary while the Investment company keeps the rest £7,500. The Investment company also charges a 1.5% managment fee on the original £100k investment, or another £1,500.

All in all means that for £100k that a client invests the Investment company makes £9,000.

As the general running costs are fixed, most of this £9,000 will go straight to the bottom line.

[davidosh] 28/1/2011 11:38

Any thoughts how all that growth announced yesterday might translate through to eps over the year or whether it will take longer to be booked as actual earnings ? Equally interesting the margin improvement was also very positive as a bottom line indicator looking forwards.

[loganair] 28/1/2011 11:23

I think that is very good news that Handsard are concentrating on organic growth having no immediate plans to make acquisitions, which dilute, costs money and most importantly takes time away from the directors who are supposed to be running the company.

Most companies that make acquisitions do so because they don't have the skill and know how to grow organically.

[pip_uk] 28/1/2011 11:18

That was some meaty sells but the share price has held up well.

[envirovision] 27/1/2011 22:42

By Mario Christodoulou

Of DOW JONES NEWSWIRES



LONDON (Dow Jones)--Specialist investment company Hansard Global PLC (HSD.LN), which admininsters assets on behalf of financial advisers, said Thursday an uncertain regulatory landscape in Europe is pushing it towards emerging markets in Far East and Latin America.

Chief Financial Officer Vince Watkins told Dow Jones Newswires he was concerned about trends in European regulation which could frustrate its attempts to partner with independent financial advisers.

"In Europe, regulation changes every 10 minutes," he said.

Countries including Norway, Belgium, Holland and France have brought in enhanced consumer protection rules which have made it more difficult for Hansard to form relationships with financial advisers, he added.

As a result the company will plow its efforts into cultivating business in emerging markets, while maintaining a presence in Europe.

"[Europe] is a small part of our business and, while there might be uncertainty we will keep business in there, but the focus of our business will be in the Far East and Latin America. Our strategy right now is to be outside Europe," he said.

The company reported a threefold increase quarter-on-quarter in business from the Far East in its second quarter, while Latin American business increased by 40% during the same period. Comparable growth from Europe was 27%.

Earlier Thursday, the firm posted a 56% increase in business flow for its fiscal first half, driven by growth in the emerging markets.

Looking ahead, Watkins said Hansard will concentrate on organic growth and has no immediate plans to make acquisitions.

[chrisb1103] 27/1/2011 21:25

And they sell to high worth customers - i don't see them suffering with the masses or with the public sector contraction. Still a big market for HSD to go for i should say.

[chrisb1103] 27/1/2011 21:08

Great figures as expected! Regular premium new business up hugely and noted especially strongly in their growing overseas markets (three fold growth in Far East no less), this feeding into an overall strong increase in margins - as always underpinned by their low-cost business model, new on-line business now taking off very well - so great potential here. And the "group continues to be strongly capitalised".

Half year results will be good, forecast upgrades very likely so a bit of broker noise will be welcome, interim divi almost certain to increase. The yield here is just too good so the share price has to rise, and it will. That's how i see it - this is a growth company not just great income play - market needs to wake up to the potential here imo.

[davidosh] 27/1/2011 11:57

It is good to see a few more posters and investors here. Stemis used to be pretty much carrying the flag alone. I posted a couple of years back on the TMF board and bizarrely the price is exactly the same this morning. I guess one could argue that the dividend has kept me warm and it did carry on throughout the downturn. I have a much larger holding now.

I have just posted on TMF if anyone has any thoughts or wishes to add to the discussion there.



It would be useful if anyone knows more about the Board and LP in particular. I doubt anyone has been to an AGM.

[envirovision] 27/1/2011 09:58

Leonard Polonsky, sounds like a Russian Jewish name to me? Bought across a couple of trading accounts and also in my sip and isa at £1.59, but I think I will follow you and add some more today and average up a little.

[davidosh] 27/1/2011 09:38

The dividend is always very close to the heart and mind of the largest shareholder as we all know !

[envirovision] 27/1/2011 09:36

new business up 56%

wonder if we could see a dividend rise some time?

[davidosh] 27/1/2011 09:35

The interims will be out on the 24th Feb but after that Q2 update I will be amazed if the forecasts for the full year do not need some adjustment upwards. The overseas non european business is growing at a staggering rate.

I topped up at the lows of a few weeks back but added again this morning as the yield and now potential growth story is compelling.

[envirovision] 27/1/2011 09:33

market is loving this

[stemis] 27/1/2011 09:18

Good set of new business figures

[loganair] 24/1/2011 21:21

bisiboy - If their products are so bad why are Handsard expecting a £50m increase in funds for this period and over £40m for the last or a total of approximately 8% increase in funds managed?