Hennessy Japan Fund (Formerly Hennessy Select SPARX Japan Fund)

Overview
The Hennessy 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 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.


2013 Lipper Fund Award Winner
Best Japanese Fund (HJPIX) for the 3 year risk adjusted performance among 10 Japanese funds for the period ended 11/30/12.

Portfolio Manager Q+A
Fund Fact Sheet
 
Fund Information as of 03/31/13
Equity Sector Weighting
Consumer Discretionary 23.1%
Consumer Staples 11.5%
Financials 5.0%
Health Care 9.9%
Industrials 28.0%
Information Technology 6.9%
Materials 2.2%
Top 10 Holdings
Ryohin Keikaku Co., Ltd. 7.9%
Shimano, Inc. 7.0%
Keyence Corp. 6.9%
Misumi Group, Inc.. 6.5%
Asics Corp. 5.0%
Rohto Pharmaceutical Co., Ltd 4.9%
Kao Corp. 4.5%
Mitsubishi Corp. 4.4%
Sumitomo Corp. 4.3%
Unicharm Corp. 3.5%
Domestic/Foreign Holdings
Japan 86.5%
Cash and Other Assets, Less Liabilities 13.5%
Fund Information
Total Net Assets $23 million  
Beta (vs. TOPIX)* 0.60  
  Investor Class Institutional Class
Expense Ratio 2.04% 1.86%
CUSIP 425 894 102 425 894 201
Ticker HJPNX HJPIX
Inception Date 10/31/03 10/31/03
Minimum Investment $2,500 $250,000**
Minimum Investment (IRA) $250 $250,000**
Portfolio Composition
Equity
86.5%
Cash
13.5%

Performance as of 03/31/13
Average Annual Total Returns
3 Months
YTD
1 Year
3 Year
5 Year
Since Inception (10/31/03)
HJPNX (Investor)
11.76%
11.76%
14.86%
12.11%
4.50%
7.16%
Russell/Nomura Total Market Index
11.56%
11.56%
8.03%
3.91%
0.07%
3.48%
Tokyo Stock Price Index (TOPIX)
10.89%
10.89%
8.37%
3.67%
-0.07%
3.16%
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.

Year by Year Total Returns
 
2004
2005
2006
2007
2008
2009
2010
2011
2012
HJPNX (Investor)
36.31%
50.26%
-13.10%
-14.25%
-27.50%
9.83%
20.64%
0.29%
11.61%
Russell/Nomura Total Market Index
15.39%
29.31%
1.91%
-6.17%
-25.96%
5.81%
14.65%
-12.60%
8.05%
Tokyo Stock Price Index (TOPIX)
15.54%
26.53%
1.88%
-6.32%
-25.96%
5.22%
13.86%
-12.05%
7.84%

 

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 Russell/Nomura Total Market Index is a market capitalization-weighted index of Japanese equities. The Tokyo Stock Price Index (TOPIX) is a market capitalization-weighted index of all companies listed on the First Section of the Tokyo Stock Exchange. The Russell/Nomura Total Market and TOPIX indices are presented in U.S. Dollar terms and take into account reinvestment of dividends. One cannot invest directly in an index.

Small and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Investments in foreign securities 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

* Beta is a measure of a portfolio’s sensitivity to market movements (as represented by the TOPIX). 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.

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