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Hennessy Japan Small Cap Fund Investor Class

  • Symbol: HJPSX
  • No Transaction Fee No Transaction Fee 1
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Morningstar® Snapshot*

AS OF 03/31/2014; MORNINGSTAR CATEGORY: Japan Stock
Returns 4 out of 5, Above Average Returns
LOWAVGHIGH
Expenses 5 out of 5, High Fees
LOWAVGHIGH
Risk of this Category Category Risk Rating:6, where 1 is Lower and 10 is Higher
LOWERHIGHER

*All data provided by Morningstar. Please click on each indicator above to learn more about comparison groups and methodology.

Performance

2 More Information
AS OF 3/31/2014 ; *YTD AS OF 4/22/2014
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life of Fund
YTD (Daily)* +1.36% 1 Yr +19.40% 3 Yr +14.26% 5 Yr +19.84% Life of Fund +8.22%

Hypothetical Growth of $10,000

3, 4 More Information
AS OF 03/31/2014; MORNINGSTAR CATEGORY: Japan Stock
Shows growth of hypothetical $10,000 investment in Hennessy Japan Small Cap Fund Investor Class compared to TOPIX,Japan Stock over the selected time period
Hennessy Japan Small Cap Fund Investor Class
Japan Stock

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The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Fund Manager(s)

More Information
Hidehiro Moriya since 7/9/2012 Tadahiro Fujimura since 8/31/2007

Fund Overview

Objective

The investment seeks long-term capital appreciation.

Strategy

The fund normally invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of smaller Japanese companies, generally defined as those companies with market capitalizations in the bottom 15% of all Japanese companies. It may invest up to 20% of its net assets in companies with larger market capitalizations.

Risk

Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of which may be magnified in emerging markets. These risks are particularly significant for funds that focus on a single country or region. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments. Additional risk information for this product may be found in the prospectus or other product materials, if available.

Additional Disclosures

A mutual fund registered under Sparx Asia Funds, and managed by Hennessy Advisors, Inc. This description is only intended to provide a brief overview of the fund. Read the fund's prospectus for more detailed information about the fund.

Details

More Information
Morningstar Category Japan Stock
Fund Inception 8/31/2007
NAV
4/22/2014
$9.67
30-Day Yield 5
10/31/2013
0.01%
Exp Ratio (Gross)Glossary definition opens in new window.
2/28/2014
2.4%
($24.00 per $1000)
Exp Ratio (Net)Glossary definition opens in new window.
2/28/2014
2.4%
($24.00 per $1000)
Minimum to Invest 6 $2,500.00
Turnover Rate
10/31/2013
141%
Net Assets ($M)
3/31/2014
$15.76
12 Month Low-High
3/31/2014
$9.03 - $11.92

Top 10 Holdings

7 More Information
AS OF 12/31/2013
Top 10 Holdings
Nissei Build Kogyo Co Ltd 2.60%
Okamura Corporation 2.45%
Seiren Co., Ltd. 2.25%
ANEST IWATA Corporation 2.24%
HASEKO Corporation 2.22%
BIC Camera Inc. 2.15%
Miyaji Engineering Group Inc 2.14%
Tomoku Co Ltd 2.12%
SBS Holdings, Inc. 2.10%
Sumida Corp 2.07%
% of Total Portfolio 22.35%
out of 64 holdings

Quarter-End Average Annual Total Returns

3, 2 More Information
AS OF 3/31/2014; *FUND INCEPTION 8/31/2007

EXPENSE RATIO (GROSS):Glossary definition opens in new window.
2.4% AS OF 2/28/2014
1 Yr 3 Yr 5 Yr 10 Yr Life of Fund*
Before TaxesGlossary definition opens in new window.
Hennessy Japan Small Cap Fund Investor Class 19.40% 14.26% 19.84% -- 8.22%
After Taxes on DistributionsGlossary definition opens in new window.
Hennessy Japan Small Cap Fund Investor Class 9.92% 9.95% 16.73% -- 6.04%
After taxes on distributions and sale of fund sharesGlossary definition opens in new window.
Hennessy Japan Small Cap Fund Investor Class 12.12% 10.23% 15.32% -- 5.95%

Read more about after-tax returns.

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2012 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.

1. No Transaction Fee funds are available without paying a transaction fee. No Transaction Fee funds will also be offered without a load or on a load waived basis. However, the fund may charge a short term trading fee or a redemption fee. Other fees and expenses, including those which apply to a continued investment in the fund, are described in the fund's current prospectus. Fidelity Brokerage Services LLC ("FBS"), or its affiliates, may receive compensation in connection with the purchase and/or the ongoing maintenance of positions in certain No Transaction Fee mutual funds in your account. FBS may also receive compensation for such things as systems development necessary to establish a fund on its systems, a fund's attendance at events for FBS's clients and/or representatives, and opportunities for the fund to promote its products and services. This compensation may take the form of sales loads and 12b-1 fees described in the prospectus and/or additional compensation paid by the fund, its investment adviser or an affiliate. Additional information about the source(s) and amount(s) of this compensation as well as any other remuneration received by FBS or its affiliates will be furnished upon request.

Fidelity will charge a short term trading fee each time you sell or exchange shares of FundsNetwork No Transaction Fee (NTF) funds held less than 60 days (short-term trade). Money market funds, funds redeemed through the Personal Withdrawal Service, and shares purchased through dividend reinvestment are not subject to this short-term trading fee. As well, Fidelity reserves the right to exempt other funds from this fee, such as funds designed to achieve their stated objective on a short-term basis. The short-term trading fee will be based on the fee scheduled detailed in the Understanding Fidelity's FundsNetwork Fees section. Please be aware that certain FundsNetwork funds may be subject to separate and additional redemption fees imposed by the particular fund. Please refer to that fund's current prospectus for details.

2. Total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any. Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated and are cumulative if the fund is less than one year old. Total returns do not reflect the fund's [%] sales charge. If sales charges were included, total returns would have been lower.

3. The Morningstar Category Average is the average return for the peer group based on the returns of each individual fund within the group, for the period shown. This average assumes reinvestment of dividends.

4. This chart illustrates the performance of a hypothetical $10,000 investment made in this investment product (and a benchmark or category average, if shown) from the beginning date shown or on the inception date of the product (whichever is later). The inception date used for products with underlying funds, or multiple shares classes, or are offered as a separate account, strategy or sub account, may be the inception date of the underlying fund, the earliest share class of the product, or the date composite performance for the product was first made available. The product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Benchmark returns include reinvestment of capital gains and dividends, if any, but do not reflect any fees or expenses. It is not possible to invest in an index. Past performance is no guarantee of future results. This chart is not intended to imply any future performance of the investment product.

5. A standard yield calculation developed by the Securities and Exchange Commission for bond funds. The yield is calculated by dividing the net investment income per share earned during the 30-day period by the maximum offering price per share on the last day of the period. The yield figure reflects the dividends and interest earned during the 30-day period, after the deduction of the fund's expenses. It is sometimes referred to as "SEC 30-Day Yield" or "standardized yield".

6. Initial minimum investments into group retirement accounts such as Fidelity Simplified Employee Pension-IRA, Keogh, Self-Employed 401(k), and Non-Fidelity Prototype Retirement accounts are $500 or higher. Additional investments into Regular, IRA, and Group accounts are $250 or higher.

7. Any holdings, asset allocation, diversification breakdowns or other composition data shown are as of the date indicated and are subject to change at any time. They may not be representative of the fund's current or future investments. Some breakdowns may be intentionally limited to a particular asset class or other subset of the fund's entire portfolio, particularly in multi-asset class funds where the attributes of the equity and fixed income portions are different.

Under the asset allocation section, international (or foreign) assets may be reported differently depending on how an investment options reports its holdings. Some do not report international (or foreign) holdings here, but instead report them in a "Regional Diversification" section. Some report them in this section as an to the equity, bond and other allocation shown. Others report international (or foreign) holding as a subset of the equity and bond allocations shown. If the allocation without the foreign component (or round to) 100%, then international (or foreign) is a subset of the equity and bond percentage shown.

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