NOVATO, Calif., March 23, 2016 /PRNewswire/ -- Hennessy Funds today announced that the Hennessy Gas Utility Fund (GASFX) has received two 2016 Lipper Fund Awards for best in category performance for both the five-year and ten-year periods ended 11/30/15 among 15 Utility Funds. This marks the fifth consecutive year that the Hennessy Gas Utility Fund has received the five-year Lipper Fund Award.* Lipper Fund Awards honor mutual funds that have excelled in delivering consistently stronger risk-adjusted performance than their peers.
"We are pleased to once again receive this award from such a prestigious, industry-leading organization in recognition of our disciplined and repeatable investment process," 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 very broad range of different types of utilities, our Fund focuses on natural gas, and specifically on the distribution side of the industry," said Skip Aylesworth, Portfolio Manager. "With a 100+ year domestic supply, low and stable pricing, along with its environmental advantage, natural gas is quickly becoming the fuel of choice. The Hennessy Gas Utility Fund provides an opportunity to invest in companies that should benefit from the growing demand for natural gas," Aylesworth noted.
* The 2012, 2013, 2014 and 2015 Lipper Fund Awards were given among 16, 16, 15 and 15 Utility Funds for the five-year periods ending 11/30/11, 11/30/12, 11/30/13 and 11/30/14, respectively.
About Hennessy Funds
Hennessy Funds offers a wide range of domestic equity, sector, specialty, balanced and fixed income 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. © 2016, All Rights Reserved
The Hennessy Funds are distributed by Quasar Distributors, LLC, Distributor.
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SOURCE Hennessy Advisors, Inc.