Japanese equities are currently trading at compelling valuation levels compared to other developed equity markets around the world and relative to their own historical averages. We believe the Japanese market deserves a closer look.
When investing in Japanese businesses, we believe it is imperative to select a manager who is immersed in the culture and can perform in-depth, company-specific research to build a concentrated portfolio of Japanese companies that can outperform a benchmark and weather volatility.
Ryan Kelley, CIO of Hennessy Funds, gives his thoughts and outlook on current issues in the market. He continues to have a positive long term view.
The Portfolio Managers of the Hennessy Japan Small Cap Fund provide their thoughts on the new Bank of Japan (BOJ) Governor’s policies, increased tourism, current valuations, changes to the portfolio, and an outlook for the rest of 2023.
Berkshire Hathaway has increased its investment in five Japanese trading companies, Mitsubishi Corp., Mitsui & Co., Sumitomo Corp., Itochu Corp., and Marubeni, with investors taking notice. With Buffett strengthening his focus on Japan, we believe investors should as well.
The Portfolio Managers of the Hennessy Japan Small Cap Fund discuss wage growth, the fluctuating Japanese yen, current valuations, new Fund holdings, and their outlook for the rest of 2023.
Chief Investment Officer, Ryan Kelley, summarizes a look back over a volatile 2022 and reinforces that time in the market can smooth out the choppy markets, and he believes the outlook for U.S. stocks remains positive.
The Portfolio Managers of the Hennessy Japan Small Cap Fund discuss the portfolio, their positive outlook on smaller Japanese stocks, and how they believe the recovery of the domestic economy will benefit small and mid-cap stocks.
Ryan Kelley, CIO of Hennessy Funds, provides his mid-year review and outlook on what lies ahead, emphasizing a long-term perspective.
Portfolio Manager Tad Fujimura discusses the effects of the Russian war in Ukraine on Japanese companies, how the Fund is positioned, notable changes in the portfolio, and a few holdings he believes are trading at a discount with attractive growth prospects.