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Hansa
Mickey
Posted: 22 January 2018 13:35:51(UTC)
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Hi,
I am looking at Hansa IT. There are two classes, Ordinary and A with the A class having no voting rights. Other than that they seem to be very similar in returns and discount etc. I wonder if perhaps HANA is an easier share to sell as there are twice as many issued. Does anyone know which would be the preferred choice between HAN and HANA, please?
Ark Welder
Posted: 24 January 2018 03:12:24(UTC)
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Check out the daily trading volumes over a period of time to see which class has had the greater liquidity. I used to hold HANA, but that is going back a few years. It was on a slightly wider discount than HAN at the time. I don't remember any particular problems with liquidity - but that could have changed.

There is no point in holding HAN in order to be able to vote because vested interests own just over half of these (assuming that this is something that hasn't changed) so even if every other shareholder voted together then they would get outvoted.

Are there still twice as many HANA in existence as HAN? Just over half of HAN equates to just under 17% of the combined shares capital...
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Mickey on 24/01/2018(UTC), dlp6666 on 24/01/2018(UTC)
Mickey
Posted: 24 January 2018 08:57:30(UTC)
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Thanks for that, very helpful. Yes, twice as many HANA as HAN shares in existence.
Big boy
Posted: 24 January 2018 09:25:48(UTC)
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the discount for the ordy (1043p) is 26.61% and A (1043p) is 28.3% so I would Buy the A shares at present. Sometimes the ordy move to the same price in which case I would Buy the Ordy. Unfortunately when tipped most small investors go for the Ordy and pay a big premium......

During the last 1-2 years I have trade both stocks many hundreds of times and you should not have a problem dealing providing you are patient and set a discount target at which level you wish to trade.

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Mickey on 24/01/2018(UTC)
Keith Cobby
Posted: 24 January 2018 09:58:34(UTC)
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Big discounts but performance has been pedestrian/poor. Much better trusts out there.
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dlp6666 on 24/01/2018(UTC), what me, worry? on 28/01/2018(UTC)
Big boy
Posted: 24 January 2018 11:35:49(UTC)
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KC ....I am happy with 40% return in just under 2 years. I have never seen any benifit in looking at past performance......
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what me, worry? on 28/01/2018(UTC)
Keith Cobby
Posted: 24 January 2018 14:24:24(UTC)
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Short term performance has been good although bettered by the BG trusts which also have been much more consistent.
jvl
Posted: 24 January 2018 14:35:43(UTC)
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I think if you bought the ordinary along with Solo Oil you'd have star performance.
Jim S
Posted: 24 January 2018 14:48:45(UTC)
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Hansa A was recommened by Money Observer last month for what that's worth. Main advantages are its quite defensive (& not very correlated to global equities), also its discount (although its the trend which is as important as the actual %).

I've held the ordinary shares but sold a while back
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Mickey on 25/01/2018(UTC)
Alex Peard
Posted: 24 January 2018 23:19:36(UTC)
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I held HANA for many years and sold in 2017. Poor past performance, future prospects of discount narrowing rely on improvement in Brazillian economy. Having done business there I would observe that Brazil is a country which is always expected to do better tomorrow! I may be wrong on this but even if so would prefer to invest in a better managed trust investing in LA.

If it's a defensive trust you're after there are many better ones out there.

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Mickey on 25/01/2018(UTC), Jim S on 25/01/2018(UTC), Keith Cobby on 25/01/2018(UTC)
Jim S
Posted: 25 January 2018 11:11:58(UTC)
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CLDN is at 17% discount & apparently quite defensively positioned, maybe worth a look.


On the subject of apparently cheap ITs, does anyone have a view on SVM UK Emerging Fund plc? The holdings seem nice for UK microcap, recent performance has been good, my main concern is its a very small fund. (question mainly for bigboy!)
I opened a small position in November, but can't find much on HL about it any more, I guess they haven't submitted their kiid yet.
Alan Selwood
Posted: 25 January 2018 11:30:44(UTC)
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Small ITs tend to be volatile in price, whatever their investment merits, because they tend to be too small for institutional investors to use, and if dealing is thin, small purchases or sales can make big differences to the price. Spreads may also be wider.

Henderson Opportunities Trust falls into this category, and is often on a high discount, which erodes rapidly if buyers are to the fore, resulting in significant gains, but the share price tends to revert to a high discount if sellers predominate. One to buy when the tide is flowing in!

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Jim S on 25/01/2018(UTC), what me, worry? on 28/01/2018(UTC)
Jim S
Posted: 25 January 2018 11:31:44(UTC)
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Jim S;55913 wrote:

On the subject of apparently cheap ITs, does anyone have a view on SVM UK Emerging Fund plc? The holdings seem nice for UK microcap, recent performance has been good, my main concern is its a very small fund. (question mainly for bigboy!)
I opened a small position in November, but can't find much on HL about it any more, I guess they haven't submitted their kiid yet.


Positive is 25% disc, +113% over 5 years and +44% in last 12 months (!)
Negative is the 5 million market cap & 2.9% TER
So seems to have some nice holdings and potential, but high charges. If they call it a day because its so small, I guess at least you might get around 30% uplift when the shares are sold.
Mickey
Posted: 25 January 2018 12:38:54(UTC)
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Jim S;55913 wrote:
On the subject of apparently cheap ITs, does anyone have a view on SVM UK Emerging Fund plc?

Have not touched an SVM product since the debacle of their SVM Global IT.
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Jim S on 25/01/2018(UTC)
Jim S
Posted: 25 January 2018 14:41:33(UTC)
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Mickey;55919 wrote:
Jim S;55913 wrote:
On the subject of apparently cheap ITs, does anyone have a view on SVM UK Emerging Fund plc?

Have not touched an SVM product since the debacle of their SVM Global IT.


I'm almost scared to ask, was that when they had the problems around 2012-13? I couldnt find out much from a quick search.

Anyway, thanks a lot for the caution, think I will hold off on buying more, least for a while
Big boy
Posted: 28 January 2018 12:38:18(UTC)
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Jim S ....re SVM UK Emerg. As a private investor I would leave well alone......better discounts and easier trading elsewhere. As. a Professional I would trade them on the right terms.
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