Hennessy Select SPARX Japan Fund (SPXJX)

Overview
The Hennessy Select SPARX Japan Fund seeks long-term capital appreciation by investing at least 80% of its net assets in equity securities of Japanese companies. The Fund invests in companies regardless of market capitalization, and portfolio construction is unconfined to benchmarks or tracking error.

Investment Strategy
The Hennessy Select SPARX Japan 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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Fact Sheet

 
Fund Information as of 12/31/11
Equity Sector Weighting
Consumer Discretionary 18.5%
Consumer Staples 8.8%
Financials 5.2%
Health Care 13.9%
Industrials 28.9%
Information Technology 5.1%
Materials 10.1%
Top 10 Holdings
Sumitomo Corp. 5.7%
Kao Corp. 5.6%
Misumi Group, Inc. 5.6%
Shimano, Inc. 5.2%
Keyence Corp. 5.1%
Ryohin Keikaku Corporation 5.1%
Rohto Pharmaceutical Co., Ltd 5.0%
Daikin Industries 4.8%
Mitsubishi Corp. 4.8%
Mani, Inc. 4.5%
Domestic/Foreign Holdings
Japan 90.4%
Cash and Other Assets, Less Liabilities 9.6%
Fund Information
Total Net Assets $24 million  
Beta (vs. TOPIX)* 0.52  
  Original Class Institutional Class
Expense Ratio 1.73% 1.47%
CUSIP 425 894 102 425 894 201
Ticker SPXJX SPARX
SEC Fund Identifier
Series S000008448 Series S000008448
  Class C000023166 Class C000023165
Inception Date 10/31/03 10/31/03
Minimum Investment $2,500 $250,000**
Minimum Investment (IRA) $250 $250,000**
Portfolio Composition
Equity
90.4%
Cash
9.6%

Performance as of 12/31/11
Average Annual Total Returns
3 Months
YTD
1 Year
3 Year
5 Year
Since Inception (10/31/03)
SPXJX
-3.39%
0.29%
0.29%
9.94%
-3.75%
5.41%
MSCI Japan Index
-3.85%
-14.19%
-14.19%
1.81%
-6.43%
1.74%
Tokyo Stock Price Index (TOPIX)
-3.98%
-12.05%
-12.05%
1.78%
-6.06%
1.40%
Year by Year Total Returns
 
2004
2005
2006
2007
2008
2009
2010
2011
SPXJX
36.31%
50.26%
-13.10%
-14.25%
-27.50%
9.83%
20.64%
0.29%
MSCI Japan Index
15.95%
25.63%
6.33%
-4.14%
-29.11%
6.39%
15.59%
-14.19%
Tokyo Stock Price Index (TOPIX)
15.54%
26.53%
1.88%
-6.32%
-25.96%
5.22%
13.86%
-12.05%