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.
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.
Deep-rooted cultural traditions of hard work and perseverance have contributed to Japan’s high-quality products, superior manufacturing, and technological innovations, resulting in a durable global competitive advantage.
Portfolio Manager Masa Takeda discusses the Japanese government’s response to the ongoing coronavirus pandemic, a weakening Yen, valuations and new holding, Hitachi.
The Portfolio Managers of the Hennessy Gas Utility Fund discuss the trillion-dollar Infrastructure Bill, natural gas production, demand, and exportation, and the composition and dividend growth of the Fund.
The Portfolio Managers of the Hennessy Focus Fund discuss how certain holdings benefit in today’s strong housing and used and new car market, merger and acquisition activity, a new holding, and the Fund’s potential earnings growth.
The Portfolio Managers of the Hennessy BP Midstream Fund share their insights on the effect of intense summer temperatures, potentially rising rates, and global energy demand on midstream companies. They also discuss current valuations, payouts, and buybacks in the sector.
Portfolio Managers of the Hennessy Equity and Income Fund discuss value-oriented stock leadership, recent additions to the portfolio, and their outlook for stocks. They also share their views on inflation, interest rates, and the market.
With many small- and large-cap funds extending their reach to the mid-cap space, some investors may assume they have covered all asset classes. They could be missing out on the power of a mid-cap allocation.
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.