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August 2024
In the following commentary, the Portfolio Managers of the actively managed Hennessy Equity and Income Fund (HEIFX/HEIIX) share their perspective on the equity and fixed income markets, a new equity holding, where on the yield curve they are finding opportunity, and their outlook for the remainder of 2024.
July 2024
The Portfolio Managers discuss the challenges Japanese small-caps have faced amid the depreciation of the yen and the resulting valuation misalignment that could present opportunity for active investors.
With welcomed levels of inflation, a weak currency and an accommodative central bank, Japan is attracting considerable investor attention. The Portfolio Management team discusses their thoughts on interest rate direction, wage increases, record levels of tourism, and how the Fund is positioned to benefit in this economic environment.
May 2024
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.
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.
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Large Growth Fund discuss the Fund’s formula-based investment process and how it drives the Fund’s sector and industry positioning.
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Value Fund discuss the Fund’s formula-based investment strategy and how it drives the Fund’s sector and industry positioning.
Japanese stocks are experiencing a historic rally and the Bank of Japan has raised interest rates for the first time since 2007. With this backdrop, the Portfolio Management team discusses the market rally, interest rates, ongoing inflation, expectations for tourism, and current valuations.
February 2024
The Portfolio Managers of the Hennessy Focus Fund discuss key market drivers from 2023, how their current watchlist has changed over the past year, new holding Altus Group and their market outlook for 2024.
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