NOVATO, Calif., Feb. 28, 2018 /PRNewswire/ -- 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 10-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 of the Fund. "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.
About Hennessy Funds
Hennessy Funds offers a wide range of domestic equity, multi-asset,
sector and specialty investment products. Hennessy is committed to
its consistent and repeatable investment process, combining
time-tested stock selection strategies with a highly disciplined,
team-managed approach, and to providing superior service to
shareholders.
Investors should consider the investment objectives, risks,
charges and expenses carefully before investing. This and other
important information can be found in the Funds' summary and
statutory prospectuses. To obtain a free prospectus, please call
800.966.4354 or visit hennessyfunds.com. Please read the prospectus
carefully before investing.
Mutual fund investing involves risk. Principal loss is
possible. A non-diversified fund, one that may concentrate
its assets in fewer holdings than a diversified fund, is more
exposed to individual stock volatility than a diversified fund.
Investments focused in the natural gas distribution and
transmission industry may be adversely affected by rising interest
rates, weather, and the wholesale pricing of alternative fuels.
Investments in foreign securities involve greater volatility and
political, economic and currency risk and differences in accounting
methods. Past performance does not guarantee future
results.
A Lipper Fund Award is awarded to one fund in each Lipper
classification for achieving the strongest trend of consistent
risk-adjusted performance against its classification peers over a
three, five or ten-year period. Although Lipper makes reasonable
efforts to ensure the accuracy and reliability of the data
contained herein, the accuracy is not guaranteed by Lipper. Lipper
Analytical Services, Inc. is an independent mutual fund research
and rating service. © 2018, All Rights Reserved.
The Hennessy Funds are distributed by Quasar Distributors, LLC,
Distributor.
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SOURCE Hennessy Advisors, Inc.