Hennessy Gas Utility Index Fund (GASFX) - Formerly FBR Gas Utility Index Fund

Objective
The Fund seeks income and long-term capital appreciation.

Index Methodology
- Seeks to track the total return (appreciation and income) of the AGA Stock Index, maintained by the American Gas Association

- Owns all of the publicly traded companies that are members of the American Gas Association

- Market cap weighted, adjusted for the percentage of natural gas assets on each company’s balance sheet

- No company is purchased to be greater than 5% of assets to ensure proper weighting of the portfolio

- Reset monthly or when conditions warrant, such as merger, acquisition, and capital restructuring
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2013 Lipper Fund Award Winner
Best Utility Fund for the 3 year and
5 year risk adjusted performance among 16 utility funds for the period ended 11/30/12.
 

 


 
Fund Information as of 03/31/13
Equity Sector Weighting
Energy
34.6%
Financials
0.5%
Utilities
63.6%
Cash
1.2%
Top 10 Holdings
Spectra Energy Corp.
5.0%
Williams Companies, Inc.
5.0%
Kinder Morgan, Inc.
5.0%
National Grid PLC
5.0%
Enbridge, Inc.
4.9%
TransCanada Corp.
4.9%
Energy Transfer Equity LP
4.8%
Sempra Energy
4.8%
Dominion Resources, Inc.
4.3%
ONEOK, Inc.
4.2%
 
Fund Information
Total Net Assets $893 million  
Beta (vs. S&P 500) 0.70 (Ten year)  
30-Day SEC Yield 2.81%  
Expense Ratio 0.69%  
CUSIP 425 88P 833  
Ticker GASFX  
Inception Date 5/10/89  
Minimum Investment $2,500  
Minimum Investment (IRA) $250  

Performance as of 03/31/13
Average Annual Total Returns
3 Months
1 Year
3 Year
5 Year
10 Year
Since Inception (5/10/89)
GASFX (Investor Class)
14.06%
21.96%
19.46%
10.81%
14.35%
10.07%
AGA Stock Index
14.41%
22.11%
18.60%
9.92%
13.45%
7.93%
S&P 500 Index
10.61%
13.96%
12.67%
5.81%
8.53%
9.43%

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 Gas Utility Index Fund.

 

Past performance is not a guarantee of future results.

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. The S&P 500 is en unmanaged indices commonly used to measure the performance of U.S. stocks. The AGA Stock Index is a market capitalization weighted index, adjusted monthly, consisting of member companies of the AGA. One cannot invest directly in an index.

Mutual fund investing involves risk; Principal loss is possible. A non-diversified fund, one that may concentrate its assets in fewer holdings than a diversified fund, is more exposed to individual stock volatility than a diversified fund. Investments are focused in the natural gas distribution and transmission industry, which may be adversely affected by rising interest rates, weather, and the wholesale pricing of alternative fuels. Investments in foreign securities may involve greater volatility and political, economic and currency risk and differences in accounting methods.

A Lipper Fund Award is awarded to one fund in each Lipper classification for achieving the strongest trend of consistent risk-adjusted performance against its classification peers over a three, five or ten-year period. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. © 2013, All Rights Reserved

SEC Yield is a standardized yield computed by dividing the net investment income per share earned during the 30-day period prior to quarter-end.

Beta is a measure of a portfolio’s sensitivity to market movements (as represented by the S&P 500). 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.