NOVATO, Calif., March 21, 2014 /PRNewswire/ -- Hennessy Funds today announced that the Hennessy Gas Utility Index Fund (GASFX) has received two 2014 Lipper Fund Awards, recognizing the Fund's best in category three-year and five-year risk adjusted performance among 15 Utility Funds for both time periods as of 11/30/13. This year marks the third consecutive year that the Hennessy Gas Utility Index Fund has received both the three-year and five-year awards for performance in the Utilities category.* Lipper Fund Awards honor mutual funds that have excelled in delivering consistently stronger performance than their peers.
"We are very pleased to once again be recognized by Lipper for our disciplined, consistent and repeatable investment management approach," said Neil Hennessy, President and Chief Investment Officer of Hennessy Funds. "We strive to give our investors the best chance to achieve returns that are balanced, mindful of downside risk and sustainable over the long run," he noted.
The Hennessy Gas Utility Index Fund utilizes the American Gas Association Stock Index, which is comprised of publicly-traded natural gas distribution companies. "With a projected 100+ year domestic supply, natural gas is an abundant energy source, and we continue to see demand increasing. The Fund provides investors with the opportunity to invest in the companies who may benefit from the growing demand for natural gas," said Skip Aylesworth, Portfolio Manager.
* The 2012 and 2013 Lipper Fund Awards were given among 16 Utility Funds for the three- and five-year periods ending 11/30/11 and 11/30/12, 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.
The Funds' investment objective, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 800-966-4354 or by visiting hennessyfunds.com. Please read it carefully before you invest or send money.
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.
The American Gas Association (AGA) Stock Index is a modified market capitalization weighted index, adjusted monthly, consisting of member companies of the AGA. One cannot invest directly in an index.
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. © 2014, All Rights Reserved
The Hennessy Funds are distributed by Quasar Distributors, LLC, Distributor.
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Neil J. Hennessy
SOURCE Hennessy Advisors, Inc.