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November 2019
Portfolio Managers Dave Ellison and Ryan Kelley discuss how interest rate cuts have affected banks, the health of the banking industry, currently low valuations, and opportunities in non-bank financials.
Portfolio Manager Tad Fujimura provides insights on how smaller or more domestically focused Japanese companies have been affected by the trade discussions, the sales tax increase, increased tourism, and corporate governance.
Portfolio Managers, Ryan Kelley and Josh Wein detail how the Hennessy Cornerstone Mid Cap 30 Fund utilizes a quantitative formula to select a concentrated portfolio of 30 domestic, mid-cap stocks.
The Hennessy Focus Fund Managers discuss their investment process, describe share buyback programs among portfolio companies, and share their insights on a few of the Fund’s largest holdings.
October 2019
In summer 2020, Tokyo will host the Olympic games, providing Japan an opportunity to showcase itself to the world. Investments in technology and infrastructure will delight visitors during the 2020 Games and beyond, and this strategy may help trigger a new growth period for Japan’s economy.
As factory automation systems appear in factories throughout the world, Japanese companies are slated to be major beneficiaries - both as producers and users of robotics.
September 2019
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.
Hennessy Japan Fund Portfolio Manager Masa Takeda shares his insights on the Japanese economy, reform initiatives, and his outlook and valuations for Japanese equities. He also describes the importance of active management when investing in Japan.
Hennessy Gas Utility Fund Portfolio Managers Ryan Kelley and Josh Wein discuss the growth in production and consumption of natural gas and explain why the U.S is on pace to become the world's largest exporter. They describe how infrastructure spending can drive earnings and how portfolio companies have grown their dividend over time.
Financial Funds Portfolio Managers David Ellison and Ryan Kelley discuss the current strength and historically low valuations of the banking sector. They discuss growth drivers for banks and highlight the opportunity among diversified financial and fintech firms.
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