Hansa Investment Company Ltd · LSE:HAN
Hansa Investment — Hansa Trust — Shareholder Meeting (July 2016)
21 slides from Hansa Investment's shareholder meeting presentation, July 2016
Slide 1: Hansa Trust AGM July 2016
HANSA TRUST PLC HANSA TRUST AGM July 2016
Slide 2: Performance Summary
HANSA TRUST Performance Summary Total Return Performance 31 March 2014 Financial Year As at 26 July 2016 to 26 July 2016 ending 2016 Hansa Trust (HT) NAV 1,171.0p 1.5% ‐5.2% HT NAV excluding Ocean Wilsons Holdings Limited (OWHL) 830.0p 7.2% ‐4.1% OWHL shares mid price 882.5p ‐9.1% ‐8.5% HT Ord share
Slide 3: Investment Manager Presentation
HANSA TRUST AGM INVESTMENT MANAGER PRESENTATION July 2016
Slide 4: Recap: The Four Silo Approach
HANSA TRUST Recap…………….‘The Four Silo Approach’ 31 December 2013* 26 July 2016 2.2% 14.6% 23.3% 18.1% 30.8% 19.5% 63.0% 29.4% Wilson Sons UK Equity Eclectic & Diversifying Wilson Sons UK Equity Eclectic & Diversifying Core Regional Cash *Total is greater than 100% due to a loan of 0.9% of NAV Source
Slide 5: Recap: why?
HANSA TRUST Recap…………….why? …………limited synergies between a portfolio of UK equities and holding in Ocean Wilsons …………new structure plays to Hansa’s global focus …………a focus on best in class funds which are not normally available to the man in the street …………dynamic management of the stock market cy
Slide 6: Performance Review
Performance Review 6
Slide 7: Performance to 26th July 2016
HANSA TRUST Performance to 26th July 2016 Financial Year 31 Mar 14 – Calendar Q2 to end March 3 years (p.a.) 5 years (p.a.) 10 years (p.a.) 26 Jul 16 2016 Performance (NAV) 1.5% 2.1% ‐5.2% 5.4% 0.3% 5.7% Performance ex. OWHL 7.2% 0.2% ‐4.1% 6.7% 4.2% 3.7% Benchmark* 7.5% 0.9% 3.4% 3.2% 3.4% 4.1% Ord
Slide 8: Performance post strategy change (end March 2014 to 26th July 2016)
HANSA TRUST Performance post strategy change (end March 2014 to 26th July 2016) 25% Gross time weighted performance, end March 2014 to 20% 15% 26th July 2016 10% 5% 0% ‐5% ‐10% UK Equities Core Regional Funds Eclectic and Ocean Wilsons Cash Benchmark* Diversifying Assets (ex Holdings Limited OWIL) (
Slide 9: Portfolio holdings by silo
£‐ £5,000,000 £10,000,000 £15,000,000 £20,000,000 £25,000,000 £30,000,000 Select Equity Offshore 3,378,469 Findlay Park American Fund 2,420,365 Vulcan Value Equity Fund 2,362,480 SISF Asian Total Return 2,062,926 BlackRock Eur Hedge Fund 1,517,910 Adelphi Eur Select Equity 1,482,469 Odey Absolute Re
Slide 10: NAV Performance (gross of fees)
HANSA TRUST Performance has improved as a result of the portfolio changes made in 2014 31 March 2014 to 26 July 2016 performance including 31 March 2014 to 26 July 2016 performance excluding Ocean Wilson Holdings Ocean Wilson Holdings 5.0% 12.0% NAV Performance (gross of fees) NAV Performance (gross
Slide 11: Market Outlook
Market Outlook 11
Slide 12: Outlook
HANSA TRUST Outlook Policymakers still erring on the side of A policy backdrop in caution unchartered territory with negative interest rates Valuations above China average but not very economic expensive with some US economic emerging markets data shows growth slows to more signs of now exhibiting v
Slide 13: BREXIT has exacerbated the situation
HANSA TRUST ……..BREXIT has exacerbated the situation • The UK decision to exit the European Union was a real shock to investors • Unpicking how events unfold is complex and indeed it is impossible to determine exactly how events will play out from here • Key factors: • Impact on investment into the
Slide 14: The probability of a bear market has increased
HANSA TRUST The probability of a bear market has increased 1200 Previously we had expected markets to trade within a range 1000 MSCI AC World + FM (in GBP) 800 600 400 As a result of Brexit the risk to the downside has increased 200 0 Jun‐02 Jun‐04 Jun‐06 Jun‐08 Jun‐10 Jun‐12 Jun‐14 Jun‐16 Jun‐18 Ju
Slide 15: Protecting ourselves in more challenging markets: a more global portfolio
HANSA TRUST Protecting ourselves in more challenging markets……we’re now a much more global portfolio 31 December 2013 26 July 2016 19.5% 37.0% 63.0% 80.5% UK Equity Non UK Equity UK Equity Non UK Equity Source: Hansa Trust internal, unaudited 15
Slide 16: Protecting ourselves: owning great managers
HANSA TRUST Protecting ourselves in more challenging markets…….owning great managers Long‐only Pan European Equities Long‐only Japanese Equities Source: Adelphi Capital Source: Goodhart Partners Total return pan‐Asian Equities Long‐short European Equities Hedge Fund 250 225 200 175 150 125 100 75 De
Slide 17: Protecting ourselves: owning more defensive investments
HANSA TRUST Protecting ourselves in more challenging markets…….owning more defensive investments MACRO TRADING CTA’s FUNDS US 10 Year Yield 18 16 14 12 Not 10 REAL Government 8 ASSETS Bonds 6 4 2 0 Jun‐62 Jun‐65 Jun‐68 Jun‐71 Jun‐74 Jun‐77 Jun‐80 Jun‐83 Jun‐86 Jun‐89 Jun‐92 Jun‐95 Jun‐98 Jun‐01 Jun‐
Slide 18: Summary
HANSA TRUST Summary • Markets have undoubtedly become more unpredictable in light of recent events • We have adopted a three‐pronged approach to navigating these challenges: • Post the 2014 strategy review, Hansa Trust is a far more globally diversified portfolio • The decision to allocate some of t
Slide 19: Appendix
Appendix 19
Slide 20: Current Portfolio Positioning (as at June 2016)
HANSA TRUST Current Portfolio Positioning (as at 30 June 2016) Core Regional Funds UK Equities Eclectic / Diversified Strategic 35.0% 31.5% 30.0% 27.9% 25.0% 20.5% 20.0% 17.0% 17.0% 15.0% 13.6% 14.5% 10.1% 10.0% 7.3% 7.5% 5.0% 5.3% 4.7% 4.6% 5.0% 3.1% 2.6% 3.1% 0.3% 1.0% 0.3% 0.0% Source: Hansa Trus
Slide 21: Important Notice
IMPORTANT NOTICE This presentation pack is issued by Hansa Capital Partners LLP, which is authorised and regulated by the Financial Conduct Authority. Hansa Capital Partners LLP is the Manager and Company Secretary to Hansa Trust PLC. Investment Trusts are UK Public Listed companies and are not auth