Masa Takeda of Tokyo-based SPARX Asset Management Co., Ltd., subadvisor to the Hennessy Japan Fund, discusses economic activity during the pandemic, the new Prime Minister’s initiatives, current valuations, ESG investing, and his outlook for Japanese investing in 2021.
In the following commentary, the Portfolio Managers of the Hennessy Technology Fund Portfolio discuss the Fund’s strategy, investment process, and portfolio construction.
Portfolio Managers Dave Ellison and Ryan Kelley discuss how a Democratic administration and a vaccine might affect financial stocks. They also provide their thoughts on current valuations and the attractiveness of payment processors.
Portfolio Managers Ryan Kelley and Josh Wein review the Fund’s investment strategy and discuss the Fund’s most recent rebalance and changes in the portfolio composition. They also highlight the fundamental drivers of select sectors within the portfolio.
The Portfolio Managers of the Hennessy Gas Utility Fund discuss natural gas and electricity demand dynamics, the increased interest in renewable energy, and why utilities, with growing dividends and earnings, present an attractive investment opportunity.
The Hennessy Focus Fund Managers discuss current valuations, where they are finding opportunities, the investment case for new position Allegiant Travel, and how the pandemic has affected the market for used cars and car repairs.
Masa Takeda of Tokyo-based SPARX Asset Management Co., Ltd., subadvisor to the Hennessy Japan Fund, provides his thoughts on the impact of COVID-19 in Japan, Shinzo Abe’s resignation, Berkshire Hathaway’s purchase of five Japanese stocks, the Fund’s success in 2020, and compelling investment themes and stock valuations.
Portfolio Managers Dave Ellison and Ryan Kelley provide their perspective on how banks are demonstrating resiliency in the face of low interest rates and the COVID-19 pandemic. They also discuss opportunities in large- and small-cap Financials.
Portfolio Manager Ben Cook, CFA, shares his insights on the current state of the energy market, discusses valuations and yields for midstream companies, and details the factors that set these companies apart.
The Hennessy Focus Fund Managers discuss a recently added position, how they currently evaluate “tail risk,” select holdings trading at exceptionally low valuations and O’Reilly Automotive’s expansion plans.