Two Hennessy Funds Named 2023 Refinitiv Lipper Fund Award Winner
March 24, 2023 - Hennessy Funds today announced that the Hennessy Energy Transition Fund (Institutional Class: HNRIX) and the Hennessy Cornerstone Mid Cap 30 Fund (Institutional Class: HIMDX) have each been named a 2023 Refinitive Lipper Fund Award winner.
The annual Refinitiv Lipper Fund Awards highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Hennessy Energy Transition Fund was recognized for best-in-category performance for the three-year period among 36 Natural Resources Funds. The Hennessy Cornerstone Mid Cap 30 Fund was recognized for best-in-category performance for the three-year period among 793 Small-Cap Core Funds.
For more than three decades, these awards have recognized funds and fund management firms for their consistently strong risk-adjusted three-, five-, and ten-year performance relative to their peers. Based on Refinitive Lipper's quantitative, proprietary methodology, the awards reflect a truly independent and uncompromised assessment of fund performance.
The Hennessy Energy Transition Fund maintains a concentrated portfolio of companies across the full spectrum of the Energy sector. The Fund is managed by Ben Cook, CFA, and Josh Wein, CAIA. “It is an honor to receive this award recognizing our achievement in delivering best-in-category results,” said Portfolio Manager Ben Cook. “We take pride in our team and our investment process. As the natural resources sector will present a combination of volatility and attractive growth potential, we see this as an opportune environment for continued solid performance,” he added.
The Hennessy Cornerstone Mid Cap 30 Fund is quantitatively managed and maintains a concentrated portfolio of mid-cap companies. "During this tumultuous time period in the equity markets, we are pleased to have delivered strong results to our Fund shareholders, and we are honored to once again receive recognition from this prestigious organization,” said Ryan Kelley, Chief Investment Officer of Hennessy Funds. “While certain economic concerns persist, we remain steadfast in sticking to our time-tested and consistent philosophy of delivering reasonable returns to our shareholders while managing downside risk," he added.