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September 2024
Increased attention is being paid to the inclusion of focused mutual funds in portfolio allocations. Studies have shown that concentrated portfolios can provide meaningful performance advantages over time.
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.
Energy is a large and complex sector. The sector’s broad sub-industries can be divided into a “value chain,” each segment of which has different characteristics and offers different investment opportunities.
AST is building the first and only space-based cellular broadband network accessible directly by everyday smartphones with both commercial and government applications.1 With strategic investments from leading technology players such as AT&T, Verizon, Vodafone and Google, AST has the bold goal to provide uninterrupted broadband connectivity, everywhere.
With a global shift to renewable energy and rising urbanization, copper demand is expected to grow while supply remains constrained. We believe copper miners such as Freeport-McMoRan, are poised to benefit from this trend.
The Portfolio Managers share their insights on midstream companies’ strong performance over the past year, companies’ capital allocation approach that is aligned with shareholders, and current valuations.
Portfolio Managers Ben Cook and Josh Wein discuss Energy sector performance in the first half of 2024, how rate cuts could affect Energy companies, mergers and acquisition activity, the adoption of renewable energy, copper producer Freeport-McMoRan, and an Energy outlook.
August 2024
The Portfolio Managers of the Hennessy Gas Utility Fund discuss how rate cuts could affect natural gas utilities, the types of companies in the AGA Stock Index, natural gas demand, renewables, utilities’ earnings growth and dividends, and current valuations.
While a persistently weak Japanese yen compared to other currencies has negatively impacted Japan’s small and mid-cap stocks, we believe there are also positive factors that could benefit them.
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