February 28, 2018 - Hennessy Funds today announced that the Hennessy Gas Utility Fund (Investor Class: GASFX) has received the 2018 Lipper Fund Award for best-in-category performance for the ten-year period ended 11/30/17 among 14 Utility Funds. This marks the seventh consecutive year that the Hennessy Gas Utility Fund has received a Lipper Fund Award.* Lipper Fund Awards honor funds and fund management firms that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.
“We are honored to once again receive this award from this prestigious, industry-leading organization, and we are very proud of the Fund’s seven-year winning streak,” said Neil Hennessy, President and Chief Investment Officer of Hennessy Funds.
The Hennessy Gas Utility Fund owns the publicly traded members of the American Gas Association, a national trade association which represents natural gas distribution companies. “While many funds in our category invest in a broad range of utilities, our Fund focuses on natural gas, and specifically on the distribution side of the industry,” said Ryan Kelley, Portfolio Manager. “With a 100+ year domestic supply, low and competitive pricing, along with its environmental advantage, natural gas is America’s energy of choice. The Hennessy Gas Utility Fund provides an opportunity to invest in companies that should benefit from the growing demand for natural gas,” he noted.
* The Lipper Fund Awards for 2012 (3-year and 5-year), 2013 (3-year and 5-year), 2014 (3-year and 5-year), 2015 (5-year), 2016 (5-year and 10-year), 2017 (10-year), and 2018 (10-year) were given among 16, 16, 15, 15, 15, 14 and 14 Utility Funds for periods ending 11/30/11, 11/30/12, 11/30/13, 11/30/14, 11/30/15, 11/30/16, and 11/30/17, respectively.