In the following commentary, Portfolio Managers Dave Ellison and Ryan Kelley discuss the reasons behind the selloff at the end of 2018, the outlook for short-term interest rates, and what they believe is the healthy state of the banking industry going into 2019.
In the following commentary, Portfolio Manager Ryan Kelley discusses the drivers behind the strong growth in the natural gas market in 2018, how tight inventories might cause more volatility in the gas price and the outlook for continued growth in natural gas exports.
Portfolio Managers Toby Loftin and Tim Dumois discuss the Fund’s correlation to oil prices, how energy companies are responding to shareholder preferences, and the outlook for energy markets.
Portfolio Manager Tad Fujimura shares his thoughts on Japanese stock valuations, structural reform progress, and the best way for investors to gain exposure to Japanese small-cap stocks.
Portfolio Manager Masa Takeda provides his outlook for 2019 and shares his thoughts on recent market volatility, the impact of trade tariffs, the Bank of Japan’s monetary policy, and the case for active management.
Portfolio Manager Ryan Kelley reviews the Fund’s investment strategy and discusses the Fund’s most recent rebalance and changes in the portfolio composition. He also highlights the fundamental drivers of the sectors with the highest weightings in the portfolio.
Portfolio Managers Toby Loftin and Tim Dumois discuss how the Fund’s investment strategy differs from that of other managers, how the portfolio is positioned to take advantage of current opportunities, and why investors should consider active management when investing in the Energy sector.
Portfolio Managers Toby Loftin and Ben Cook discuss the business operations and primary growth drivers of midstream energy companies, and the Fund’s investment and distribution strategies.
In the following commentary, the Portfolio Managers of the Hennessy Equity and Income Fund discuss the outlook for earnings growth, the disparity between value and growth stock performance, and their viewpoint on interest rates and the fixed income market.
The Hennessy Focus Fund Managers present the investment case for three recent additions, Ashtead Group, Camping World, and Metro Bank, to their highly concentrated portfolio and review the reasoning behind their long-term time horizon.