Oct 08th 2013 - Edison Investment Research today published a report on Hansa Trust (HAN.L, LSE:HAN, LON:HAN) entitled "Patient Investor, Wide Discount". In summary, the report says:
Hansa Trust aims to achieve long-term shareholder value through investing in a portfolio of special situations. With both the trust and Ocean Wilsons trading on discounts to NAV the look-through discount is c 34%. The investment approach is to exercise patience and look for value to be realised over time. Exposures are idiosyncratic with nearly 30% of underlying assets accounted for by an indirect holding in Wilson Sons, a quoted Brazilian maritime services company. The remaining assets comprise a UK equity portfolio and a smaller fund portfolio. Given the discount, this makes for an interesting proposition, particularly for patient investors.
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