Hennessy Large Cap Financial Fund (Formerly Hennessy Large Cap Finanical Fund)

Objective
The Fund seeks long-term capital appreciation.

Investment Strategy
The Fund employs a fundamental, bottom-up investment strategy to identify companies within the financial services industry that exhibit the following characteristics:

- Solid business models, low-cost operating structures and prospects for sustainable earnings growth
- Conservative lending culture and high quality liabilities
- Emphasis on attractive valuations based upon traditional industry relative value measures
- The net result is a portfolio of financial companies that aims to provide shareholders with conservative exposure to the financial services industry.
Download Fund Fact Sheet
 
 
Fund Information as of 03/31/13
Equity Sector Weighting
Financials
94.1%
Information Technology
4.7%
Cash
1.3%
Sector Allocation
Regional Banks
29.1%
Other Diversified Financial Services
18.1%
Diversified Banks
9.0%
Consumer Finance
14.7%
Investment Banking & Brokerage
10.9%
Data Processing & Outsourced Serv.
4.7%
Multi-Line Insurance
5.7%
Asset Mgmt & Custody Banks
5.3%
Life & Health Insurance
1.3%
Top 10 Holdings
Citigroup, Inc.
6.3%
Bank of America Corp.
6.2%
American International Group, Inc.
5.7%
Discover Financial Services
5.6%
PNC Financial Services Group
5.6%
JPMorgan Chase & Co.
5.6%
Morgan Stanley
5.5%
Goldman Sachs Group, Inc.
5.4%
Blackstone Group L.P.
5.3%
Capital One Financial Corp.
5.2%
Fund Information
Total Net Assets $60 million  
Beta (vs. S&P 500)** 0.97 (10 year)  
  Investor Class  
Expense Ratio 1.45%  
CUSIP 425 88P 882  
Ticker HLFNX  
Inception Date 1/3/97  
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 (1/3/97)
HLFNX (Investor Class)
11.35%
14.50%
4.08%
4.73%
6.12%
7.20%
KBW Bank Index
10.30%
15.49%
4.42%
-4.51%
0.49%
3.26%
S&P 500 Index
10.61%
13.96%
12.67%
5.81%
8.53%
6.58%

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 Large Cap Financial 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. The S&P 500is an unmanaged index commonly used to measure the performance of U.S. stocks. The KBW Bank Index measures Bank stock performance. 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. A non-diversified fund, one that may concentrate its assets in fewer holdings that a diversified fund, is more exposed to individual stock volatility than a diversified fund. Investors are focused in the financial services industry which may be adversely affected by regulatory or other market conditions such as rising interest rates. The Fund invests in small and medium capitalized companies, which involves additional risks such as limited liquidity and greater volatility

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.