Hennessy Technology Fund Institutional Class (HTCIX)
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Hennessy Technology Fund Institutional Class Profile
| NASDAQ Exchange | United States Country |
Overview
The described fund is an investment entity that focuses on putting its resources into companies publicly traded on U.S. national securities exchanges. This includes participation through American Depositary Receipts (ADRs), which allows the fund to invest in the securities of foreign issuers that are traded on U.S. exchanges, thus providing a diversification by blending domestic and international technology-related assets. The primary investment criterion for this fund is that the securities must belong to companies predominantly active in the technology sector. This encompasses a broad range of activities from research and design to development, manufacturing, and the distribution of technology products and services. By policy, the fund commits at least 80% of its net assets to these technology-oriented securities, a move that underscores its focus and dedication to the tech sector.
Products and Services
The fund's investment portfolio is characterized by two main product and service categories:
- American Depositary Receipts (ADRs) - ADRs represent a key vehicle through which the fund engages with the international market. These U.S. dollar-denominated securities allow the fund to invest in non-U.S. companies that are otherwise listed on U.S. exchanges. By incorporating ADRs, the fund diversifies its investment portfolio, mitigating risks associated with focusing solely on domestic markets or companies.
- Equity in Technology Companies - The fund concentrates its investments on the equity of companies significantly involved in the technology sector. This includes businesses across various stages of the technology lifecycle, from research and design to development, manufacturing, and distribution. By focusing on technology companies, the fund aims to leverage the sector's potential for high growth and innovation. These investments span a wide array of technology-related areas, indicating a broad interpretation of what constitutes a technology company.
