Hanmi (NASDAQ:HAFC) will also benefit from continued cost cutting and operational improvements at its core banking business. For Voya, the perceptive risk of their closed block variable annuity book, which management claims is fully hedged, would decline as rates rise. Though categorized as an industrial stock, we believe the market has begun to view Air Lease Corporation as a financial given its business in the purchase and leasing of commercial jet aircraft to airlines and is a beneficiary of higher interest rates.
From the Keeley All Cap Value Fund fourth quarter 2016 commentary.
