Overview
The Hennessy Select SPARX Japan Smaller Companies Fund
seeks long-term capital appreciation. The Fund normally
invests at least 80% of its net assets in equity securities
of smaller Japanese companies, generally defined as those companies with market capitalizations in the bottom 15% of all Japanese companies. As of December 31, 2009, the bottom 15% of Japanese companies had market capitalizations under approximately 100 billion Japanese yen, or the equivalent of $1.1 billion. The
Fund's portfolio construction is unconfined to benchmarks
or tracking error.
Investment Strategy
The Hennessy Select SPARX Japan Smaller Companies Fund
invests in stocks which its portfolio
managers believe to be good businesses with exceptional
management and which are trading at an attractive price.
Individual stock selection is based on rigorous, on-site
research and focuses on factors such as market growth
potential, management quality, earnings quality and
balance sheet strength. The Fund seeks arbitrage opportunities
between a company’s fundamental value and its market
price. The portfolio selects just the managers' best
ideas and has a concentrated number of holdings. |
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Fund Fact Sheet
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