Masa Takeda of Tokyo-based SPARX Asset Management Co., Ltd., subadvisor to the Hennessy Japan Fund, shares his insights on the Japanese market, valuations, rising share buybacks, and Japan’s proposed sales tax hike, and he also provides an update on structural reforms.
In the following commentary, the Portfolio Managers of the Hennessy Gas Utility Fund discuss record levels of production and consumption of natural gas, the increase in demand for natural gas for both exportation and power generation, and the Hennessy Gas Utility Fund.
Portfolio Managers Toby Loftin, Ben Cook, and Tim Dumois discuss the year-to-date volatility in oil prices, consolidation activity in the Energy sector, and catalysts for midstream companies. They also discuss recent portfolio changes.
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Growth Fund discuss the Fund’s quantitative investment strategy and how it drives the Fund’s sector and industry positioning.
In the following commentary, the Portfolio Managers of the Hennessy Technology Fund Portfolio discuss the Fund’s strategy, investment process, and portfolio construction.
Our team of tenured Portfolio Managers shares their mid-year insights on what's ahead for investors. They provide opinions on the direction of interest rates, trade disputes, and renewed volatility in both equity and fixed income markets, and share their insights about where they believe investment opportunities exist today.
Over the last five years, a difficult operating environment has hampered midstream energy companies and contributed to declines in distributions and stock prices. However, we believe that today midstream companies are at an important inflection point, poised to resume distribution growth that should attract favorable investor attention.
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.
We believe mid caps offer untapped potential and that investors may be surprised to learn that mid-cap stocks have outperformed both small- and large-cap stocks, and have done so with lower volatility.
Portfolio Managers of the Hennessy Equity and Income Fund discuss equity valuations, their outlook for interest rates and the bond market, and their investment case for two holdings.