We have been proactive to ensure continued business operations, as Hennessy Funds employees work remotely to help contain COVID-19.
March 17, 2020
The last few weeks have brought a roller coaster of emotion, anxiety, uncertainty, and market volatility caused by the global escalation of COVID-19. First and foremost, we want you to know that we remain fully committed to operating our business and portfolios for the long-term benefit of shareholders, and we remain available to answer your questions and concerns.
The San Francisco Bay Area, where our headquarters office is located, is now under a "shelter in place" directive. In accordance with that order, our staff will be working from home until that order is lifted (currently April 7th). Emergency preparedness and business continuity planning have been high priorities for our firm for a number of years, and we feel confident in the procedures that are in place that will allow us to provide services in the same manner and effectiveness as if employees were in the office.
Additionally, our plan includes cooperation with critical vendors to ensure there is no disruption in their services. We encourage Hennessy Funds shareholders who have questions or need help with their directly-held accounts to phone the national call center for the Funds (U.S. Bank Global Fund Services) at 800-261-6950 during normal business hours (Monday through Friday, 9am-8pm ET/6am-5pm PT). Financial Professionals are encouraged to call our dedicated Advisor Help Desk at 800-890-7118. Phone calls to our headquarters office will be answered and monitored during regular business hours. Our employees have canceled all non-essential travel, and we are available for meetings by phone and video-conferencing.
Along with the rest of the world, we continue to monitor this fluid situation. We feel confident that the short-term market volatility is a reactionary correction to the uncertainty surrounding coronavirus, not a fundamental or structural one, and we do not believe this threatens our economy or markets in the long term.
Our hearts and thoughts go out to those who are affected by this global event. We thank and appreciate the healthcare workers, local community and government leaders around the world who are on the front line working to contain the coronavirus.
Wishing you all the best as we all navigate through these events together.
Neil Hennessy, Terry Nilsen, and all of us at Hennessy Funds
For additional thoughts about market conditions, please read “CIO Outlook: We continue to monitor events and markets”