Hennessy Japan Fund

Hennessy Japan Fund

Last Update: 2014-03-31

Number of Stocks: 24
Number of New Stocks: 1

Total Value: $46 Mil
Q/Q Turnover: 18%

Countries: JPN
Details: Top Buys | Top Sales | Top Holdings  Embed:

Hennessy Japan Fund Watch

  • Hennessy Japan Fund Fourth Quarter Letter

    With the Japanese market up so strongly in 2013, have equities become too expensive ?


    Even though the Japanese market was up over 50% in yen terms in 2013, equity valuations are not expensive by historical standards. The current price-to-earnings ratio is approximately 16Xs and not expensive relative to other Asian markets. In addition, today's equity valuations are substantially below the huge premiums (30-40Xs price-to-earnings ratio) that investors paid for Japanese equities in the 1980s and 1990s.

      


  • Hennessy Japan Fund’s Top Five

    Hennessy Japan Fund seeks long-term capital appreciation by investing in equity securities of Japanese companies. The fund is managed by Yu Shimizu and Masakazu Takeda. Over the fourth quarter, the fund held on to a total of 23 stocks, with no new stock purchases over the duration of the quarter. The Hennessy Japan Fund was valued at $39 million as of the close of the fourth quarter.


    Keyence Corp (TSE:6861)

      


  • International Guru – Hennessy Japan Funds’ Top Five Holdings

    Hennessy Japan Fund seeks long-term capital appreciation by investing in equity securities of Japanese companies. The fund is managed by Yu Shimizu and Masakazu Takeda. Over the third quarter, the fund held on to a total of 23 stocks, with one new stock purchased over the duration of the quarter. The Hennessy Japan Fund was valued at $33 million as of the close of the third quarter.

      


  • Hennessy Japan Fund Second Quarter Commentary

    1. There appears to be renewed enthusiasm regarding the attractiveness of the Japanese market. What factors are driving this interest?

    Japan's new Prime Minister, Shinzo Abe, favors a monetary policy that includes stimulus actions that are similar to those initiated by the U.S. Federal Reserve and the European Central Bank. The Bank of Japan, Japan's Central Bank, is predicted to inject more liquidity into the Japanese economy within the next few months. These actions will likely result in a weaker yen, which could make Japanese goods less expensive to Japan's trading partners. The expectation of these actions has already led to a weakening of the yen.  


  • Hennessy Japan Fund Adds Nidec Corporation to Portfolio

    The Hennessy Japan Fund Investor Class (HJPNX)(HJPIX) has reported its second quarter portfolio, and shows one new position established: Nidec Corporation (OSE:6594).

    The Hennessy Japan Fund contains 22 stocks and is valued at $24 million. It invests over 80% of its net assets in stock of Japanese companies, on a purely quantitative basis. Since inception in 2003 it has beat the Russell/Nomura Total Market Index return 7.16% to 3.48%.  


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