Hennessy Japan Small Cap Fund

Hennessy Japan Small Cap Fund Premium Guru

Last Update: 04-01-2015

Number of Stocks: 54
Number of New Stocks: 4

Total Value: $15 Mil
Q/Q Turnover: 5%

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

Hennessy Japan Small Cap Fund' s Profile & Performance

Profile

Hennessy Japan Small Cap Fund Investor Class (HJPSX) was established on 8/31/2007. The total net assets are $16 million and the portfolio turnover is 49%. The Fund seeks long-term capital appreciation by normally investing at least 80% of its net assets in equity securities of smaller Japanese companies, defined as those with market capitalizations in the bottom 15% of all Japanese companies. Within this fund, the top three sectors are Industrials (37.1%), Information Technology (23.0%), and Consumer Discretionary (18.7%).

Hennessy Japan Small Cap Fund is managed by Hidehiro Moriya (since 7/9/2012) and Tadahiro Fujimura (since 8/31/2007).

Investing Philosophy

The Hennessy Japan Small Cap Fund invests in stocks which it portfolio managers believe to be good businesses with exceptional management and which are trading at an attractive price. Individual stock selection is based on rigorous, on-site research and focuses on factors such as market growth potential, management quality, earnings quality and balance sheet strength. The Fund seeks arbitrage opportunities between a company’s fundamental value and its market price. The portfolio selects just the managers' best ideas and has a concentrated number of holdings.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of Hennessy Japan Small Cap Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
20148.7513.69-4.9
201333.1732.390.8
201212.7616-3.2
3-Year Cumulative63.3 (17.8%/year)74.6 (20.4%/year)-11.3 (-2.6%/year)
2011-4.172.11-6.3
201023.9915.068.9
5-Year Cumulative94 (14.2%/year)105.1 (15.5%/year)-11.1 (-1.3%/year)
200913.8826.46-12.6
2008-22.31-3714.7

Top Ranked Articles

Hennessy Japan Small Cap Fund Buys 4 New Stocks in Q1
The Hennessy Japan Small Cap Fund (Trades, Portfolio) invests in companies that rank in the bottom 15% of Japanese companies for market capitalization, and has said that its ability to research companies from within the nation allows it to “uncover hidden gems.” Read more...
Hennessy Japan Small Cap Funds Buys 5 New Stocks
The Hennessy Japan Small Cap Fund (Trades, Portfolio) (HJPSX) disclosed the purchase of five new stocks in the quarter ended Oct. 31, 2014. Managers of the fund seek companies that have strong business and management, attractive price and that have a market cap in the bottom 15% of Japanese companies. Read more...
Hennessy Japan Small-Cap Fund's Q3 New Buys
Japan Prime Minister Shinzo Abe’s fiscal monetary stimulus begun in 2012 has resulted in 4.2% cumulative growth over the past six quarters ended March 31, 2014. Portfolio managers at Hennessy’s Japan Small Cap Fund believe Abe’s longer-term structural reforms, introduced in June, will “create a more business-friendly environment,” they wrote in their quarterly commentary. Abe’s plan aims to increase private investment by lowering the corporate tax rate below 30% and easing business regulations. Read more...
Six New Japanese Stocks Chosen by Long-Term Fund
The Hennessy Japan Fund (Trades, Portfolio) and Hennessy Japan Small-Cap Fund both seek attractively priced, strong businesses with capable management. Through both analyzing and visiting companies, managers choose stocks they perceive as having a significant “value gap.” The Hennessy Japan Fund (Trades, Portfolio) (HJPNX) has returned 7.9% since its inception in 2003, beating its benchmark Russell/Nomura Total Market Index return of 4.51%. Last year, its return was 31%. Read more...
Hennessy Japan Small Cap Fund Adds 4 New Stocks
The Hennessy Japan Small Cap Fund (Trades, Portfolio) screens for companies with strong businesses at attractive prices that are in the bottom 15% of Japanese companies in terms of market capitalization. Read more...
» More Hennessy Japan Small Cap Fund Articles

Commentaries and Stories

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Hennessy Japan Small Cap Fund Buys 4 New Stocks in Q1 Hennessy Japan Small Cap Fund - Hennessy Japan Small Cap Fund Buys 4 New Stocks In Q1
The Hennessy Japan Small Cap Fund (Trades, Portfolio) invests in companies that rank in the bottom 15% of Japanese companies for market capitalization, and has said that its ability to research companies from within the nation allows it to “uncover hidden gems.” More...

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Hennessy Japan Small Cap Fund Adds 4 New Stocks Hennessy Japan Small Cap Fund - Hennessy Japan Small Cap Fund Adds 4 New Stocks
The Hennessy Japan Small Cap Fund (Trades, Portfolio) screens for companies with strong businesses at attractive prices that are in the bottom 15% of Japanese companies in terms of market capitalization. More...

HENNESSY JAPAN SMALL CAP FUND, SMALL CAP, JAPAN


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Hennessy Japan Small Cap Fund Q4 2014 Comments and Opinions (Q&A)
In December 2014, Prime Minister Shinzo Abe was reelected by a landslide, securing up to four more years of a stable political environment and giving the government time to implement the “Three Arrows” program. In the discussion below, the portfolio management team of the Hennessy Japan Fund and Hennessy Japan Small Cap Fund (Trades, Portfolio) addresses the country’s economic progress and potential prospects over the coming year. More...

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Rating: 5.0/5 (1 vote)

Hennessy Japan Small Cap Funds Buys 5 New Stocks Hennessy Japan Small Cap Fund - Hennessy Japan Small Cap Funds Buys 5 New Stocks
The Hennessy Japan Small Cap Fund (Trades, Portfolio) (HJPSX) disclosed the purchase of five new stocks in the quarter ended Oct. 31, 2014. Managers of the fund seek companies that have strong business and management, attractive price and that have a market cap in the bottom 15% of Japanese companies. More...

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Hennessy Japan Small Cap Fund Comments on Nichicon Corp
Conversely, the major detractors from the Fund’s performance were Tokai Tokyo Financial Holdings, Inc., a mid-sized securities firm, T.RAD Co., Ltd., a comprehensive manufacturer of heat exchangers, and Nichicon Corporation (TSE:6996), a major global manufacturer of capacitors. More...

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Hennessy Japan Small Cap Fund Comments on T.RAD Co., Ltd
Conversely, the major detractors from the Fund’s performance were Tokai Tokyo Financial Holdings, Inc., a mid-sized securities firm, T.RAD Co., Ltd. (TSE:7236), a comprehensive manufacturer of heat exchangers, and Nichicon Corporation, a major global manufacturer of capacitors. Shares of T.RAD Co., Ltd. declined -17% after the firm lowered its earnings forecast for its fiscal year ended March 31, 2014. The Fund no longer owns T.RAD Co., Ltd. or Nichicon Corporation. More...

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Hennessy Japan Small Cap Fund Comments on Tokai Tokyo Financial Holdings Inc
Conversely, the major detractors from the Fund’s performance were Tokai Tokyo Financial Holdings, Inc. (TSE:8616), a mid-sized securities firm, T.RAD Co., Ltd., a comprehensive manufacturer of heat exchangers, and Nichicon Corporation, a major global manufacturer of capacitors. Over the previous twelve months, in Yen terms, shares of Tokai Tokyo Financial Holdings, Inc. (TSE:8616) fell -10% on concerns over the decline in revenues from commissions, as the stock market was sluggish. More...

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Hennessy Japan Small Cap Fund Comments on S Foods Inc
Among the strongest performing stocks in the Fund were shares of Bic Camera, Inc., the second largest consumer electronics retailer, Yamaichi Electronics Co., Ltd., a leading manufacturer of integrated circuit sockets, and S Foods, Inc. (TSE:2292), a manufacturer and retailer of meat products. Shares of S Foods, Inc. (TSE:2292) continued to perform well rising +136% since the start of the year. The company benefitted from the removal of restrictions on importing U.S. beef and earnings from its newly-acquired subsidiary, and the firm has also been able to raise prices to offset higher materials costs, due to the weakening Yen. More...

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Hennessy Japan Small Cap Fund Comments on Yamaichi Electronics Co. Ltd
Among the strongest performing stocks in the Fund were shares of Bic Camera, Inc., the second largest consumer electronics retailer, Yamaichi Electronics Co., Ltd. (TSE:6941), a leading manufacturer of integrated circuit sockets, and S Foods, Inc., a manufacturer and retailer of meat products. Shares of Yamaichi Electronics Co., Ltd. (TSE:6941) climbed +244% on news that its new ultra slim, multi-layer printed circuit board, which will be adopted in smartphones, will be produced in large quantities beginning this fall. The Fund no longer holds Yamaichi Electronics Co., Ltd. More...

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Hennessy Japan Small Cap Fund Comments on BIC Camera Inc
Among the strongest performing stocks in the Fund were shares of Bic Camera, Inc. (TSE:3048), the second largest consumer electronics retailer, Yamaichi Electronics Co., Ltd., a leading manufacturer of integrated circuit sockets, and S Foods, Inc., a manufacturer and retailer of meat products. During the period, in Yen terms, shares of Bic Camera, Inc. (TSE:3048) surged +101% due to firm sales, even after the consumption tax hike in April. More...

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Hennessy Japan Small Cap Fund’s October 31, 2014 Letter to Shareholders
Dear Shareholder: More...

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Hennessy Japan Small Cap Fund Second Quarter Commentary
The resurgence of the Japanese equity market has been underway since Prime Minister Shinzo Abe’s term began in 2012. What should investors expect from the economy and stocks going forward? Below, the portfolio management team addresses these questions and more. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Hennessy Japan Small-Cap Fund's Q3 New Buys Hennessy Japan Small Cap Fund - Hennessy Japan Small-Cap Fund's Q3 New Buys
Japan Prime Minister Shinzo Abe’s fiscal monetary stimulus begun in 2012 has resulted in 4.2% cumulative growth over the past six quarters ended March 31, 2014. Portfolio managers at Hennessy’s Japan Small Cap Fund believe Abe’s longer-term structural reforms, introduced in June, will “create a more business-friendly environment,” they wrote in their quarterly commentary. Abe’s plan aims to increase private investment by lowering the corporate tax rate below 30% and easing business regulations. More...

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Rating: 0.0/5 (0 votes)

Hennessy Japan Small Cap Fund Semi-Annual Report April 30, 2014
Letter to Shareholders More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Hennessy Japan Funds First Quarter 2014 Commentary
In 2013, Prime Minister Shinzo Abe introduced his "Three Arrows" program to jumpstart the Japanese economy. Which policies have achieved success and which ones have been more difficult to implement? More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Six New Japanese Stocks Chosen by Long-Term Fund Hennessy Japan Fund,Hennessy Japan Small Cap Fund - Six New Japanese Stocks Chosen By Long-Term Fund
The Hennessy Japan Fund (Trades, Portfolio) and Hennessy Japan Small-Cap Fund both seek attractively priced, strong businesses with capable management. Through both analyzing and visiting companies, managers choose stocks they perceive as having a significant “value gap.” The Hennessy Japan Fund (Trades, Portfolio) (HJPNX) has returned 7.9% since its inception in 2003, beating its benchmark Russell/Nomura Total Market Index return of 4.51%. Last year, its return was 31%. More...

  • Currently 3.00/5

Rating: 3.0/5 (2 votes)

Hennessy Funds 2013 Annual Letter
Dear Hennessy Funds Shareholder: More...

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