Hennessy Cornerstone Growth Fund Investor Class (HFCGX)
NASDAQ (NMS) NASDAQ (NMS) Primary Summary
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Hennessy Cornerstone Growth Fund Investor Class Profile
| NASDAQ (NMS) Exchange | US Country |
Overview
The fund operates as an investment platform focusing on growth-oriented common stocks listed on U.S. national securities exchanges, including American Depositary Receipts (ADRs). It employs a distinctive investment strategy known as the Cornerstone Growth Strategy, which utilizes a quantitative formula to select its investments. This strategy emphasizes an annual rebalancing process based on a rigorous screening of the stock universe, aiming to optimize the fund's performance. By committing to an equal-weighted investment approach, the fund ensures diversification and risk management by allocating a fixed percentage of its assets to each chosen stock.
Products and Services
The fund offers a specialized investment product focusing on growth-oriented stocks:
- Growth-Oriented Common Stock Investments:
- Annual Rebalancing and Screening:
As the cornerstone of its investment offerings, the fund invests exclusively in growth-oriented common stocks. These investments are selected using the Cornerstone Growth Strategy, a quantitative formula that screens and identifies promising growth stocks listed on any U.S. national securities exchange. This includes American Depositary Receipts (ADRs), providing investors access to the growth potential of foreign companies through U.S. dollar-denominated securities. This approach ensures a diversified investment portfolio aimed at capital appreciation.
The fund's investment portfolio is rebalanced annually, generally during the winter, to maintain its strategic asset allocation. This process involves a comprehensive re-screening of the growth stock universe to identify new investment opportunities and to discard underperforming stocks. Each of the 50 selected stocks is then weighted equally by dollar amount, with 2% of the portfolio's assets invested in each, ensuring that no single investment disproportionately affects the fund’s overall performance. This disciplined rebalancing and screening process is central to the fund's effort to maximize returns while managing investment risk.
