Key facts

Launch date

1912 (business transferred to Hansa Investment Company Limited in August 2019).

Domicile

Bermuda.

Listing

London Stock Exchange.

Traded currency

GBP.

NAV frequency

Daily.

AIC investor sector

Flexible.

Legal structure

Closed-ended investment company.

Capital structure

Here

Year end

31st March.

AGM

August.

Directors

Here

Portfolio Manager

Hanseatic Asset Management LBG authorised and regulated by the Guernsey Financial Services Commission (GFSC).

Investment Advisor

Hansa Capital Partners LLP authorised and regulated by the Financial Conduct Authority (FCA).

Management fee

0.8% up to £500 million of the combined group’s NAV and 0.7% thereafter.

Ongoing Annual Charges Percentage

1.1%

Key performance indicators

The Board believes that no single benchmark can adequately assess the performance of a diversified, multi-asset investment company. Accordingly, the Board considers a range of Key Performance Indicators (“KPIs”) that align with the Company’s investment objectives and portfolio construction.

The principal KPIs used to assess performance are:

• Multi-asset portfolio performance: measured against a composite benchmark comprising 60% global equities and 40% global government bonds, represented by the MSCI All Country World Index (both market capitalisation weighted and equally weighted) and the Bloomberg Global Treasury Net Total Return Index (Unhedged GBP).
• Long-term capital growth: measured against global equity market performance using the MSCI All Country World Index, considered on both a market capitalisation weighted and equally weighted basis to reduce the concentration effect of the largest companies within the index.
• Growing the spending power of capital over time: measured against global inflation, represented by a blended index of 60% US Consumer Price Inflation (CPI) and 40% Euro Area CPI.
• Defensive return comparison: measured against global government bond returns using the Bloomberg Global Treasury Net Total Return Index (Unhedged GBP).

The Board regularly, and at least quarterly, reviews the Company’s returns and overall performance with the Manager, including analysis against these KPIs.

Investment policy

The Company seeks to achieve its investment objective by investing in third-party funds, global equities and other international financial securities. The Company may invest in quoted and unquoted securities, directly or indirectly, including private assets through commitments to limited partnerships. The portfolio will usually comprise at least 30 investments.

The Company has no set maximum or minimum exposures to any asset class, geography or sector and will seek to achieve an appropriate spread of risk by investing in a diversified global portfolio of securities and other assets.

Listing notifications

The Board does not limit investments in listed closed-ended investment funds to no more than 15% of total assets. Listed closed-ended investment funds held by the Company which themselves do not have stated investment policies to invest no more than 15% of their total assets in other listed closed-ended investment funds: none

Investor information

The Company currently manages its affairs so as to be a qualifying investment for ISA purposes for both the Ordinary and ‘A’ non-voting Ordinary shares. It is the Board’s intention that the Company will continue to conduct its affairs so as to maintain ISA eligibility.

In addition, the Company is classified as a Readily Realisable Security under FCA rules and may be recommended by independent financial advisers to ordinary retail investors.

Hansa Investment Company Limited is also registered as a Reporting Financial Institution with the US Internal Revenue Service (IRS) for FATCA purposes.

Fund codes