Hennessy Core Bond Fund (Formerly FBR Core Bond Fund)

Objective
The Hennessy Core Bond Fund seeks current income with capital growth as a secondary objective.

Investment Strategy
The Fund invests primarily in domestic investment grade corporate, agency and governmental bonds. It employs a core fixed income philosophy which focuses on higher quality, intermediate term fixed income securities that can produce attractive return with a focus on downside protection.

Download Fund Fact Sheet
 
 
Fund Information as of 03/31/13
Effective Maturity
0.0-0.99 Years
7.70%
1.0-2.99 Years
23.21%
3.0-4.99 Years
27.23%
5.0-9.99 Years
37.60%
10.0-19.99 Years
4.24%
20.0+ Years
0.0%
Effective Duration
0.0-0.99 Years
7.70%
1.0-2.99 Years
28.73%
3.0-3.99 Years
16.83%
4.0-5.99 Years
27.99%
6.0-7.99 Years
14.51%
8+ Years
4.24%
Bond Quality Distribution
Aaa/AAA
27.0%
Aa/AA
3.37%
A
12.37%
Baa/BBB
47.55%
Below Baa/BBB
9.71%
Non-rated
0.0%
Fund Information
Total Net Assets
$17 million
  
Beta (vs.BarCap U.S. Gov't./Credit Total Return)
0.71 (10 year)
  
Effective Duration (Years)
3.99
  
Maturity (Years)
4.68
  
  Investor Class Institutional Class
Expense Ratio Gross 2.22%; Net 1.40%* Gross 1.41%; Net 1.15%*
CUSIP 425 88P 791 425 88P 783
Ticker HCBFX HCBIX
Inception Date 9/24/01 6/03/97
Minimum Investment $2,500 $250,000**
Minimum Investment (IRA) $250 $250,000**

Performance as of 03/31/13
Average Annual Total Returns
3 Months
1 Year
3 Year
5 Year
10 Year
Since Inception (06/03/1997)
HCBFX (Investor Class)
0.41%
5.75%
5.76%
5.65%
6.58%
5.74%
Barclays Intermediate Gov't./Credit Index
0.26%
3.53%
4.75%
4.61%
4.49%
5.65%

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by clicking here.

Performance for periods prior to 10/26/12 is that of the FBR Core Bond Fund.
 

 

The Fund’s composition and sector weightings are shown as a percentage of the Fund’s total net assets. Portfolio composition and sector weightings are subject to change at any time and should not be considered a recommendation to buy or sell a particular security. Effective Duration is a duration calculation for a bond with embedded options.  It takes in to account that expected cash flows will fluctuate as interest rates change. The Barclays Intermediate Gov't./Credit Index is an unmanaged index commonly used to measure the performance of intermediate duration U.S. bonds. One cannot invest directly in an index.

Mutual fund investing involves risk; Principal loss is possible. Investments in debt securities typically decrease in value when interest rates rise. The risk is greater for longer term debt securities. Investment by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Investments in Asset-Backed and Mortgage-Backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Investments in foreign securities may involve greater volatility and political, economic and currency risk and differences in accounting methods. The Fund may invest in IPO's which will fluctuate considerably due to the absence of a prior public market and may have a magnified impact on the Fund.

Credit Quality Bond Ratings typically range from AAA/Aaa (highest) to D (lowest). The credit ratings shown are based on each portfolio security’s rating as generally provided by Moody’s. If a Moody’s rating is not available, then the rating is provided by Standard and Poor’s (“S&P”), a Nationally Recognized Statistical Rating Organization (“NRSRO”). The credit quality of the investments in the Fund’s portfolio does not apply to the stability or safety of the Fund. These ratings are updated by Financial Counselors, Inc. (“FCI”) quarterly and may change over time. Please note, the Fund's sub-advisor, FCI, is not a NRSRO nor has the Fund itself been rated by a NRSRO.

Beta is a measure of a portfolio’s sensitivity to market movements (as represented by the BarCap US Govt/Credit Total Return). The index has a beta of 1.0. A beta of more (less) than 1.0 indicates that a fund’s historical returns have fluctuated more (less) than the index.

* Hennessy Advisors, Inc. has contractually agreed to waive a portion of its expenses through February 28, 2015.

** Initial minimum investment of $250,000 may be waived for certain fee-based or retirement plans.