Hansa Trust - Neutral


Jackie Beard, FCSI 3 January, 2014 | 10:19AM

We have initiated coverage of Hansa Trust (HAN) with a Morningstar Analyst Rating™ of Neutral. Managed by William Salomon and his family, this fund is very niche in its approach; Salomon is very transparent with his shareholders and his team takes a very long-term view in their search for capital growth. There’s also an eye to capital preservation, which will appeal to some. The portfolio is distorted by the family’s holding in Ocean Wilsons Holdings, which itself is heavily exposed to Brazil. We understand the rationale that keeps this holding in the fund until its value can be unlocked, but for most investors there’s likely too much complexity at this fund relative to Morningstar UK Flex-Cap Equity Category peers to warrant its use in a broader portfolio.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Hansa Trust Ord198.10 GBX0.05

About Author

Jackie Beard, FCSI

Jackie Beard, FCSI  is Director of Manager Research Services, Morningstar EMEA

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