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July 2024
In the intricate tapestry of global markets, Japanese small and mid-cap stocks present a particularly compelling narrative. Often overshadowed by their larger counterparts, we believe these stocks offer unique growth opportunities that savvy investors are starting to notice.
June 2024
In the latest episode of Viewpoints by Hennessy featuring Dave Ellison, Portfolio Manager of Hennessy’s Large Cap Financial Fund and Small Cap Financial Fund, he shares his outlook for the financial sector with insights on key holdings like Coinbase, Charles Schwab, and Visa.
Portfolio Managers Ryan Kelley and Josh Wein of the Hennessy Cornerstone Growth and Cornerstone Mid Cap 30 Funds recently discussed the Funds’ time-tested investment process.
Situated in Asia, Masa Takeda leverages his unique vantage point to better understand Japan's economic intricacies and the companies within the Hennessy Japan Fund. He shares factors fueling inflationary pressures in Japan, an equity outlook regarding interest rates, and implications of yen depreciation for U.S.-based investors.
Ryan Kelly, CIO of Hennessy Funds reflects on the first half of 2024, marked by robust performance across all major indexes and provides his outlook on the U.S. market in a period of uncertainty and volatility.
May 2024
Tokio Marine is Japan’s largest general insurance group with a solid track record in the domestic market and an expanding overseas business. Tokio Marine is one of three Japanese insurers that has significant market share and enjoys high profitability and strong pricing power due to industry consolidation.
Portfolio Managers Dave Ellison and Ryan Kelley discuss their perspective and outlook on the banking industry, banks’ net interest margins and valuations. They also discuss the allocation of the Large Cap Financial Fund and the attributes they seek in smaller banks for the Small Cap Financial Fund.
We believe Japanese general insurance companies look attractive. Due to industry consolidation, three insurers control market share and enjoy high profitability and strong pricing power yet remain attractively priced.
April 2024
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Growth Fund discuss the Fund’s formula-based investment strategy and how it drives the Fund’s sector and industry positioning.
The Portfolio Managers of the Hennessy Japan Small Cap Fund provide their thoughts on wage increases, book value improvements, and the rebound in tourism. They also possible acquisition candidates in the Fund, potential acquisition candidates, and their bullish outlook.
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