2023 Annual Results released

March 31, 2023

The Annual Report as at 31 March 2023 is now available for shareholders.

Our Portfolio Manager, Alec Letchfield and his team at Hansa Capital Partners LLP (“HCP”, “Hansa Capital Partners”, ”PM”) have performed robustly on a relative basis in a very difficult market. The portfolio he manages – the Company’s investment portfolio, excluding the holding in Ocean Wilsons Holdings Limited (“OWHL”, “Ocean Wilsons”) – achieved a gross time-weighted negative return of -1.1% in the past year (2021/22: gross timeweighted positive return of 1.1%). Our investment in OWHL generated a gross time-weighted negative return of -5.17% (2021/22: gross time-weighted positive return of 24.7%). Collectively, the entire Hansa Investment Company Limited (“HICL”, “the Company”) portfolio generated a gross time-weighted negative return of -2.0% for the 12 months ended 31 March 2023 (2021/22: gross timeweighted positive return 6.2%).

For the year ended 31 March 2023, the Net Asset Value (“NAV”) Total Return has declined by 3.1%, reducing from 319.1p per share to 305.8p per share, whilst also returning 3.2p per share in dividends. Regrettably, consistent with much of the Investment Trust sector, during the past 12 months there has been an increase in the discount from 37.8% to 43.1% for the Ordinary shares and from 39.5% to 44.2% for the ‘A’ Ordinary shares. More detail on our results and the longer-term performance can be found on page 6, as well as in our Portfolio Manager’s detailed review of markets and portfolio performance in his Report on page 8.

Click here for the annual report

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