Hansa Investment Company Ltd · LSE:HAN
Hansa Investment — Investor Presentation (May 2021)
24 slides from Hansa Investment's investor presentation, May 2021
Slide 1: Jonathan Davie, Chairman
Jonathan Davie Chairman May 2021
Slide 2: William Salomon, Director
William Salomon Director May 2021
Slide 3: Investment in Ocean Wilsons Holdings & Wilson Sons
Hansa Investment Company Limited Investment in Ocean Wilsons Holdings & Wilson Sons Corporate Structure Net Asset Value of Ocean Wilsons Holdings Hansa Investment Company Limited 100% Total OWHL look-through NAV as at 31st March 2021 - £457.9m 26.45% of Fund and Direct OWHL is Equity Holdings held b
Slide 4: Brazilian Real vs US Dollar
Brazilian Real vs US Dollar Significant devaluation of Brazilian currency against USD in both Nominal and Real terms USD/BRL Historical Exchange Rate Source: Bloomberg (27-Apr-21) May 2021
Slide 5: Brazilian Real vs US Dollar
Brazilian Real vs US Dollar Significant devaluation of Brazilian currency against USD in both Nominal and Real terms May 2021
Slide 6: WSL Share Price
WSL Share Price WSL share price, in USD terms, is at a low WSL Historical Share Price in BRL vs USD Source: Bloomberg (27-Apr-21) May 2021
Slide 7: Port development at Salvador
Hansa Investment Company Limited Port development at Salvador Well-equipped infrastructure with an 800-metre principal quay, allowing the simultaneous berthing of two super-post-Panamax ships. May 2021
Slide 8: Political & economic outlook for Brazil
Hansa Investment Company Limited Political & economic outlook for Brazil May 2021
Slide 9: Exposure to Wilson Sons in terms of risk
Hansa Investment Company Limited Exposure to Wilson Sons in terms of risk Exposure to Wilson Sons Value of HICL 26.45% holding in OWHL (£297.0m*) £78.5m Less 26.45% of value of OWIL Investment Portfolio (£224.9m**) £59.5m Equals HICL’s indirect exposure to Wilson Sons £19.0m *Market Cap as at 31st M
Slide 10: Alec Letchfield, CIO, Hansa Capital Partners
Alec Letchfield CIO, Hansa Capital Partners May 2021
Slide 11: MSCI ACWI, GBP events timeline
Congress passes Hansa Investment Company Limited $900bn covid-19 relief legislation Rising covid-19 cases in Europe amid slow Events timeline vaccination rates FDA authorises their first covid- 19 vaccine FDA authorises Vaccinations their third covid-19 Joe Biden secures surpass 10m first vaccine, w
Slide 12: Market Performance Chart (£)
Hansa Investment Company Limited Market Performance Chart (£) 3
Slide 13: NAV, Share Price and KPI Performance
Hansa Investment Company Limited NAV, Share Price and KPI Performance 15 months to Financial Year 3 years to end 10 years to end end March 2020/21 March 2021 (p.a.) March 2021 (p.a.) 2021 NAV Performance TR 34.8% 8.9% 5.8% 4.7% NAV Performance ex. OWHL TR 33.7% 14.7% 8.8% 6.3% Ordinary Share TR 54.2
Slide 14: Gross time-weighted performance of silos, year to 31 March 2021
Hansa Investment Company Limited Gross time-weighted performance of the different silos 1 year to 31st March 2021 65.0% 63.6% 60.0% 55.0% 50.0% 48.8% 45.0% 41.9% 38.7% 38.9% 40.0% 37.1% 36.2% 35.0% 30.0% 26.7% 25.0% 20.0% 15.0% 10.0% 8.6% 5.0% 2.1% 0.5% 0.0% -5.0% -1.8% Core Regional Thematic Core &
Slide 15: Gross time-weighted performance of silos, Jan 2020 – Mar 2021
Hansa Investment Company Limited Gross time-weighted performance of the different silos 01 Jan 2020 – 31 Mar 2021 50.0% 48.8% 40.0% 30.0% 23.3% 20.0% 18.0% 16.8% 13.9% 10.6% 10.0% 4.7% 3.5% 0.6% 0.0% -3.5% -5.1% -10.0% -7.1% Core Regional Thematic Core & Global Equities Ocean Wilsons Diversifying Ca
Slide 16: Gross time-weighted performance of silos, three years
Hansa Investment Company Limited Gross time-weighted performance of the different silos three years to 31st March 2021 95.0% 90.4% 85.0% 75.0% 65.0% 55.0% 47.5% 45.0% 42.9% 39.5% 39.5% 35.0% 27.5% 25.0% 23.0% 15.0% 9.9% 5.8% 3.9% 5.0% -5.0% -1.2% -7.1% -15.0% Core Regional Thematic Core & Global Oce
Slide 17: Indus Japan JPY Unhedged Goodhart: Hanjo RA Capital Healthcare
£20,000,000 £40,000,000 £60,000,000 £80,000,000 £- £100,000,000 £120,000,000 Ocean Wilsons Holdings 22,863,108 OW Vulcan Value Equity 6,412,804 Findlay Park American 5,640,995 Select Equity Offshore 5,465,298 Pershing Square 3,748,679 SISF Asian Total Return 3,721,237 Prince Street Inst 3,210,112 Bl
Slide 18: Indus Japan JPY Unhedged Goodhart: Hanjo RA Capital Healthcare
£10,000,000 £20,000,000 £30,000,000 £40,000,000 £50,000,000 £60,000,000 £- Pershing Square 3,857,637 Findlay Park American 3,294,129 BlackRock Strat Hedge 3,252,620 Select Equity Offshore 2,664,247 SISF Asian Total Return 2,568,812 Vulcan Value Equity 2,511,800 Prince Street Inst 2,197,673 Indus Jap
Slide 19: Market outlook: a liquidity driven cycle
Hansa Investment Company Limited Market outlook……a liquidity driven cycle Growth rate of US GDP from trough of each recession S&P 500 mapped against Fed balance sheet expansion The current cycle has been more Liquidity however has been muted versus past cycles abundant and driven up asset prices dra
Slide 20: Market outlook: fiscal policy joining the party
Hansa Investment Company Limited Market outlook……fiscal policy joining the party Huge fiscal stimulus packages, Combined fiscal and monetary policy especially in the US have led to a massive easing in financial conditions 13
Slide 21: Market outlook: growth and inflation expectations
Hansa Investment Company Limited Market outlook……as a result growth and inflation expectations have picked up sharply? Consensus forecast for 2021 US GDP vs date of forecast US 5, 10 year inflation breakeven rates Economic growth forecasts have ….as have inflation expectations risen sharply 14
Slide 22: Market outlook: positioning/market
Hansa Investment Company Limited Market outlook……positioning/market Forward US earnings yields vs real bond yields In addition to stronger economies Vaccination programmes vary region TINA remains in play by region but some countries such as the US are making excellent progress 15
Slide 23: Current Positioning (as at 31st March 2021)
Hansa Investment Company Limited Current Positioning (as at 31st March 2021) 20% 19.8% 18% 16% 14% 12.0% 12% 10.9% 10.5% 10% 8% 6.8% 6.5% 6% 5.2% 5.4% 4.4% 4.2% 4% 3.0% 2.6% 2.5% 2.2% 2% 0.9% 1.3% 0.8% 0.4% 0.7% 0% 16
Slide 24: Important Notice
IMPORTANT NOTICE This presentation pack is issued by Hansa Investment Company Limited. Hansa Investment Company Limited is not authorised or regulated by the Financial Conduct Authority, or by the Bermuda Monetary Authority as an authorised fund under the Investment Funds Act 2006 of Bermuda. The Di
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