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August 2024
While a persistently weak Japanese yen compared to other currencies has negatively impacted Japan’s small and mid-cap stocks, we believe there are also positive factors that could benefit them.
July 2024
The Portfolio Managers discuss the challenges Japanese small-caps have faced amid the depreciation of the yen and the resulting valuation misalignment that could present opportunity for active investors.
With welcomed levels of inflation, a weak currency and an accommodative central bank, Japan is attracting considerable investor attention. The Portfolio Management team discusses their thoughts on interest rate direction, wage increases, record levels of tourism, and how the Fund is positioned to benefit in this economic environment.
In the intricate tapestry of global markets, Japanese small and mid-cap stocks present a particularly compelling narrative. Often overshadowed by their larger counterparts, we believe these stocks offer unique growth opportunities that savvy investors are starting to notice.
June 2024
Situated in Asia, Masa Takeda leverages his unique vantage point to better understand Japan's economic intricacies and the companies within the Hennessy Japan Fund. He shares factors fueling inflationary pressures in Japan, an equity outlook regarding interest rates, and implications of yen depreciation for U.S.-based investors.
May 2024
Tokio Marine is Japan’s largest general insurance group with a solid track record in the domestic market and an expanding overseas business. Tokio Marine is one of three Japanese insurers that has significant market share and enjoys high profitability and strong pricing power due to industry consolidation.
We believe Japanese general insurance companies look attractive. Due to industry consolidation, three insurers control market share and enjoy high profitability and strong pricing power yet remain attractively priced.
April 2024
The Portfolio Managers of the Hennessy Japan Small Cap Fund provide their thoughts on wage increases, book value improvements, and the rebound in tourism. They also possible acquisition candidates in the Fund, potential acquisition candidates, and their bullish outlook.
Japanese stocks are experiencing a historic rally and the Bank of Japan has raised interest rates for the first time since 2007. With this backdrop, the Portfolio Management team discusses the market rally, interest rates, ongoing inflation, expectations for tourism, and current valuations.
March 2024
Japanese equities are currently trading at compelling valuation levels compared to other developed equity markets around the world and relative to their own historical averages. We believe the Japanese market deserves a closer look.
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