CA – September 7, 2010
- Hennessy Funds announced that its Hennessy Select SPARX Japan Smaller Companies Fund (Ticker: SPJSX) marked its third anniversary on August 31st, and that it today received the coveted 5-star Overall Morningstar Rating™ among 26 Japan Stock funds as of 8/31/10. The Overall Morningstar Rating™ for a fund is derived from a weighted average of the risk-adjusted returns associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating™ metrics. Five stars is Morningstar’s highest rating given to mutual funds.
The Hennessy Select SPARX Japan Smaller Companies Fund invests in small-cap Japanese equities, primarily those with market capitalization below 100 billion Japanese yen, or $1.1 billion. Hennessy Funds acts as the Fund’s investment manager and has retained SPARX Asset Management Co., Ltd. as the Fund’s sub-advisor. SPARX Asset Management, based in Tokyo, Japan, is responsible for all stock selections and the day to day management of the Fund’s portfolio.
The Hennessy Select SPARX Japan Smaller Companies Fund is one of just two open-end mutual funds available to U.S. investors comprised primarily of Japanese small cap stocks, and the only small-cap Japan fund whose portfolio managers are based in Japan.
“I view investing in Japan right now as a smart, contrarian strategy,” said Neil Hennessy, President and Chief Investment Officer of Hennessy Funds. “While many investors may have written off Japan, I am excited by the large number of Japanese companies that I see enjoying tremendous global opportunities for strong, long-term growth and whose stock prices are at or near historical lows,” he added. “We share the responsibilities for managing our Select SPARX Japan Funds with one of the largest, most well-respected and talented asset managers in Asia. SPARX Asset Management epitomizes the type of highly qualified category experts we employ as sub-advisors for our Select Funds,” Hennessy commented.
About Hennessy Funds
Hennessy Funds offers a wide range of both domestic and international equity mutual funds, including a full line up of quantitatively managed portfolios as well as a series of sub-advised, actively managed strategies. Hennessy Funds is committed to their consistent and repeatable investment strategies, highly disciplined management approach and superior service to shareholders.
About SPARX Asset Management Co., Ltd.
SPARX Asset Management Co., Ltd. is a wholly owned subsidiary of SPARX Group Co., Ltd., a publicly traded asset manager based in Tokyo, Japan. Since its founding in 1989, SPARX has grown to become the largest independent money manager in Asia. SPARX’s extensive experience in Japan and throughout Asia over the past two decades offers investors keen insights into opportunities throughout the region.
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