Midstream Companies poised to benefit from global energy demand.

Key Metrics: Bank Failures and Non-Performing Loans

Progress of reform initiatives and the strengthening of the yen.

Our Managers average over 20 years of investing experience.

As Chief Investment Officer, Neil leads our team of investment professionals.

Based in Dallas, TX, Toby is a recognized expert in energy investing.

Since our founding, our priority has been meeting shareholders needs.

High-conviction strategies, managed for long-term results.

We look forward to the opportunity to work together.

Should investors be concerned about an economic recession?

Global oil prices and growing U.S. production.

Investing in the growth of the natural gas industry since 1989.

High-conviction investment strategies matched with an unwavering commitment to always putshareholders first.

High-conviction, concentrated strategies to build a winning portfolio.

Active share of 99% and low turnover demonstrate our conviction

More conservative strategies that offer market exposure with lower volatility.

Sector-specific and specialty strategies when seeking to add alpha to your portfolio.

Morningstars top performing Japan Stock fund for 10 years

Learn how our funds can power your portfolio.

Energy Stocks Offer Growth Potential and Higher Dividends

Portfolio Managers Toby Loftin, Trip Rodgers, and Tim Dumois discuss the Funds correlation to oil prices, how energy companies are responding to shareholder preferences, and the outlook for energy markets.

As factory automation systems appear in factories throughout the world, Japanese companies are slated to be major beneficiaries – both as producers and users of robotics.

Morningstar Percentile Ranking compares a funds Morningstar risk and return scores with all the funds in the same Category, where 1% = Best and 100% = Worst. Each Morningstar category average represents a universe of funds with similar objectives.

The Hennessy Japan Small Cap Fund (HJSIX) ranked in the top 1% for the 3-year and 10-year periods ended 3/31/19 among 42 and 14 Japan Stock funds, respectively. (HJPSX) ranked in the top 1% for the 10-year period ended 3/31/19 among 14 Japan Stock funds.

The Funds investment objectives, risks, charges, and expenses must be considered carefully before investing. Theprospectuscontains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 1-.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted and can be foundhere. Neither forward earnings nor earnings growth is a measure of a funds future performance.

Mutual fund investing involves risk. Principal loss is possible. Small and medium-capitalization companies may have more limited liquidity and greater price volatility than large-capitalization companies. Investments in foreign securities may involve greater volatility and political, economic, and currency risk and differences in accounting methods. The Focus, Total Return, Balanced, Large Cap Financial, Small Cap Financial, and BP Midstream Funds are considered non-diversified funds. A non-diversified fund, which may concentrate its assets in fewer individual holdings than a diversified fund, is more exposed to individual stock volatility than a diversified fund. A fund that concentrates its investments within one country, one sector, or a small group of industries, such as Japan, Technology, Financials, or Energy, may be subject to a higher degree of risk. Investments in debt securities typically decrease in value when interest rates rise. The risk is greater for longer-term debt securities. Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities. Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. Funds that invest in pooled investment vehicles (including ETFs) may experience higher fees. The formula-based strategy employed by some Funds may cause those Funds to buy or sell securities at times when it may not be advantageous.

Master Limited Partnerships (MLPs) and MLP investments have unique characteristics. A Fund does not receive the same tax benefits as a direct investment in an MLP.

The prices of MLP units may fluctuate abruptly and trading volume may be low, making it difficult for a Fund to sell its units at a favorable price. MLP general partners have the power to take actions that adversely affect the interests of unit holders. Most MLPs do not pay U.S. federal income tax at the partnership level, but an adverse change in tax laws could result in MLPs being treated as corporations for federal income tax purposes, which could reduce or eliminate distributions paid by MLPs to the Fund. If the BP Energy Funds MLP investments exceed 25% of its assets, it may not qualify for treatment as a regulated investment company (RIC) under the Internal Revenue Code (Code), and the Fund would be taxed as an ordinary corporation, which could substantially reduce its net assets and its distributions to shareholders. The BP Midstream Fund is treated as a regular corporation, or C corporation, for U.S. federal income tax purposes, and therefore, is subject to U.S. federal income tax on its taxable income at the graduated rates applicable to corporations (currently a maximum rate of 21%) as well as state and local income taxes. The BP Midstream Fund will not benefit from current favorable federal income tax rates on long-term capital gains, and Fund income and losses will not be passed on to shareholders. The BP Midstream Fund accrues deferred income taxes for future tax liabilities associated with the portion of MLP distributions considered to be a tax-deferred return of capital and for any net operating gains as well as capital appreciation of its investments. This deferred tax liability is reflected in the daily NAV, and as a result, the Funds after-tax performance could differ significantly from the underlying assets even if the pre-tax performance is closely tracked.

Glossary of Termscontains definitions and additional information.

To view the top 10 holdings of a Fund, please click the Fund name:Cornerstone Growth,Focus,Cornerstone Mid Cap 30,Cornerstone Large Growth,Cornerstone Value,Total Return,Equity and Income,Balanced,BP Energy,BP Midstream,Gas Utility,Japan,Japan Small Cap,Large Cap Financial,Small Cap Financial,Technology. Fund holdings are subject to change and not recommendations to buy or sell any security.

Opinions expressed are subject to change at any time, are not guaranteed, and should not be considered investment advice.

To view the Morningstar ratings for the Japan Fund, please clickhere.(Media – TD Ameritrade)

The Hennessy Funds are offered only to United States residents, and information on this web site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of any Hennessy Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.