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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.
January 2024
Portfolio Managers of the actively managed Hennessy Equity and Income Fund (HEIFX/HEIIX) discuss the attractiveness of higher-quality value companies, how the current environment favors active management, the Federal Reserve’s plan to cut rates, and how the fixed income portfolio is positioned.
The Portfolio Managers share their insights on capital expenditure spending, fluctuations of natural gas prices, how Midstream and MLP companies have historically outperformed during periods of high inflation, and the current investment case for midstream companies.
Portfolio Managers Ben Cook and Josh Wein summarize the Energy sector in 2023, the emphasis on capital discipline, reasons for consolidation, where the Fund is finding opportunity, and valuations and free cash flow yields.
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