The Hennessy Balanced Fund seeks total return, consisting
of capital appreciation and current income. The Fund
invests in ten very large, dividend-yielding companies
selected by the purely quantitative Balanced Formula.
The Fund selects large-cap, value oriented stocks and
a percentage of fixed income.
The Hennessy Balanced Fund invests 50% of its assets
in the ten highest dividend-yielding Dow Jones Industrial
Average stocks, known as the "Dogs of the Dow",
and the remaining 50% in U.S. Treasury securities with
a maturity of less than one year. Stocks for the portfolio
are selected by strictly adhering to the following time-tested,