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GASFX Hennessy Gas Utility Investor

  • Fund
  • GASFX
  • Price as of: Dec 08, 2016
  • $28.14
  • + $0.14
  • + 0.50%
  • Category
  • Utilities Equities

GASFX - Profile

Vitals

  • YTD Return 15.8%
  • 3 Yr Annualized Return 7.3%
  • 5 Yr Annualized Return 10.7%
  • Net Assets $1.41 B
  • Holdings in Top 10 49.3%

52 WEEK LOW AND HIGH

$28.14
$22.67
$30.01

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.93%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 37.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$250

Investment Themes

CATEGORY

Utilities Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Utilities

Distributions

  • YTD Total Return 18.1%
  • 3 Yr Annualized Total Return 7.3%
  • 5 Yr Annualized Total Return 10.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.33%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Hennessy Gas Utility Fund
  • Fund Family Name Hennessy
  • Inception Date May 10, 1989
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Brian E. Peery

Fund Description

The Hennessy Gas Utility Fund Investor Class (GASFX) is a low-cost, passively managed fund that targets firms related to the natural gas utility industry. GASFX is an index fund that tracks the American Gas Association (AGA) Stock Index. This is a multi-cap measure of utilities and pipeline/midstream firms that are weighted based on their earnings exposure to the fuel. The fund’s holdings span both U.S. and Canadian stocks.

Given the fund’s narrow exposure to natural gas-related equities, GASFX is best suited as a supplemental position in a portfolio. The fund is managed by Hennessy Advisors.

GASFX - Performance

Return Ranking - Trailing

Period GASFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 15.8% -10.4% 18.5% 14.58% 1
1 Yr 12.4% -2.1% 17.7% 35.42% 2
3 Yr 7.3% * 0.8% 11.1% 34.78% 2
5 Yr 10.7% * 6.5% 11.7% 8.89% 1
10 Yr 8.8% * 4.6% 8.8% 2.22% 1

* Annualized


Return Ranking - Calendar

Period GASFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -20.3% -40.3% 0.0% 68.09% 4
2014 15.1% -10.4% 22.8% 27.66% 2
2013 19.7% 0.0% 28.2% 13.04% 1
2012 2.0% -12.5% 10.4% 47.73% 3
2011 21.2% -7.6% 21.2% 2.27% 1

Total Return Ranking - Trailing

Period GASFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 18.1% -10.4% 20.7% 12.50% 1
1 Yr 12.4% -3.1% 17.7% 22.92% 2
3 Yr 7.3% * -0.5% 11.1% 30.43% 2
5 Yr 10.7% * 6.0% 11.7% 6.67% 1
10 Yr 8.8% * 4.6% 8.8% 2.22% 1

* Annualized


Total Return Ranking - Calendar

Period GASFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -16.9% -22.6% 13.0% 97.87% 5
2014 19.4% 0.0% 29.8% 51.06% 3
2013 30.1% 0.0% 58.2% 23.91% 2
2012 9.5% 0.0% 23.4% 47.73% 3
2011 35.9% 0.0% 44.9% 4.55% 1

NAV & Total Return History

GASFX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

GASFX Category Low Category High GASFX % Rank Quintile
Net Assets 1.41 B 19.3 M 6.3 B 12.50% 3
Number of Holdings 56 29 268 14.58% 3
Net Assets in Top 10 743 M 7.99 M 2.77 B 10.42% 3
Weighting of Top 10 49.3% 27.2% 71.0% 16.67% 2

Top 10 Holdings

  1. Kinder Morgan Inc P 5.26%
  2. Dominion Resources Inc 4.97%
  3. Sempra Energy 4.99%
  4. Spectra Energy Corp 5.11%
  5. National Grid PLC ADR 5.02%
  6. Enbridge Inc 4.97%
  7. TransCanada Corp 5.02%
  8. Atmos Energy Corp 4.50%
  9. Cheniere Energy Inc 5.06%
  10. PG&E Corp 4.44%

Asset Allocation

Weighting Category Low Category High GASFX % Rank Quintile
Stocks
98.59% 92.27% 99.97% 14.58% 2
Cash
1.41% -0.44% 5.77% 16.67% 3
Other
0.00% -0.21% 4.15% 14.58% 2
Convertible Bonds
0.00% 0.00% 0.00% 2.08% 3
Preferred Stocks
0.00% 0.00% 2.62% 10.42% 4
Bonds
0.00% 0.00% 3.19% 8.33% 4

Stock Sector Breakdown

Weighting Category Low Category High GASFX % Rank Quintile
Utilities
67.39% 19.84% 98.83% 22.92% 4
Energy
29.62% 0.39% 29.62% 2.08% 1
Basic Materials
1.13% 0.00% 3.04% 10.42% 2
Financial Services
0.45% 0.00% 7.85% 4.17% 1
Technology
0.00% 0.00% 14.28% 22.92% 4
Real Estate
0.00% 0.00% 6.60% 12.50% 4
Healthcare
0.00% 0.00% 0.02% 6.25% 4
Communication Services
0.00% 0.00% 33.92% 31.25% 5
Consumer Defense
0.00% 0.00% 0.01% 4.17% 4
Consumer Cyclical
0.00% 0.00% 2.15% 8.33% 4
Industrials
0.00% 0.00% 17.35% 22.92% 5

Stock Geographic Breakdown

Weighting Category Low Category High GASFX % Rank Quintile
US
83.59% 41.49% 99.97% 27.08% 3
Non US
15.00% 0.00% 50.78% 8.33% 2

GASFX - Expenses

Operational Fees

GASFX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.93% 0.10% 2.55% 58.33% 2
Management Fee 0.40% 0.08% 1.00% 22.92% 1
12b-1 Fee 0.15% 0.00% 1.00% 23.53% 1
Administrative Fee 0.12% 0.03% 0.25% 22.73% 2

Sales Fees

GASFX Fees (% of AUM) Category Low Category High GASFX Rank Quintile
Front Load N/A 3.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

GASFX Fees (% of AUM) Category Low Category High GASFX Rank Quintile
Max Redemption Fee N/A 0.75% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

GASFX Fees (% of AUM) Category Low Category High GASFX Rank Quintile
Turnover 37.00% 3.00% 475.00% 22.92% 2

GASFX - Distributions

Dividend Yield Analysis

GASFX Category Low Category High GASFX % Rank Quintile
Dividend Yield 0.8% 0.06% 1.59% 6.25% 1

Dividend Distribution Analysis

GASFX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Semi-Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

GASFX Category Low Category High GASFX % Rank Quintile
Net Income Ratio 2.33% 0.56% 3.38% 22.92% 2

Capital Gain Distribution Analysis

GASFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

GASFX - Managers

Brian E. Peery

Manager

Start Date

Feb 27, 2015

Tenure

1.76

Tenure Rank

29.1%

Brian Peery has more than 20 years of experience in the financial services industry, having held institutional sales, trading, research and analyst positions. Brian began his financial career at a boutique investment research shop working as an equities analyst and went on to manage research and trading for a full-service brokerage firm. Brian has been with Hennessy Funds since 2002, where he has served on the Investment and Research Committee and held roles as Director of Sales and Director of Research. Brian’s strength as a money manager lies in his commitment to quantitative, formula-based investing. Having done extensive back-testing of various investment formulas, Brian understands the importance of non-emotional investing and adhering to a disciplined, repeatable stock selection process. Brian holds a Bachelor’s degree in Economics from the University of Richmond (VA).


Ryan C. Kelley

Manager

Start Date

Mar 31, 2013

Tenure

3.67

Tenure Rank

25.6%

Kelley has been employed by Hennessy Advisors, Inc. since October 26, 2012. Prior to October 26 2012, Mr. Kelley was employed by FBR Fund Advisers, Inc. Prior to joining the FBR Advisers, Inc. in 2005, he held various positions at FBR, including senior equity analyst in the research department since 2002 and associate in corporate finance for five years prior to 2002. Kelley holds the Chartered Financial Analyst designation.


Winsor (Skip) H. Aylesworth

Manager

Start Date

Jan 01, 2001

Tenure

15.92

Tenure Rank

8.1%

Winsor H. Aylesworth has served as co-portfolio manager of the Predecessor Technology Fund since the Fund’s commencement of operations and has served as portfolio manager of the Predecessor Gas Utility Index Fund since 2001. Mr. Aylesworth has been employed by FBR Fund Advisers, Inc. since 1998. He holds both an MS and MBA degree and previously was president of Grandview Advisers, Inc.


Tenure Analysis

Category Low

0.9

Category High

24.8

Category Average

11.2

Category Mode

1.9