NOVATO, Calif., Sept. 23, 2016 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ: HNNA) today announced that it has
completed the acquisition of assets related to the management of
The Westport Funds. As a result, the Westport Fund and the Westport
Select Cap Fund will be reorganized into the Hennessy Cornerstone
Mid Cap 30 Fund (HIMDX). This acquisition represents
approximately $440 million in assets,
bringing total assets managed by Hennessy Advisors, Inc. to
$6.8 billion.
"I want to thank the shareholders of The Westport Funds for
their vote of confidence. We welcome Westport shareholders to the Hennessy family
of funds, and we will strive to deliver strong investment
management and performance, while providing superior customer
service," said Neil Hennessy,
Chairman, CEO and President of Hennessy Advisors, Inc. "We are
excited to close another successful acquisition and believe this
demonstrates our commitment to consistently pursue opportunities to
grow our business for the benefit of our shareholders," he
added.
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment manager
offering a broad range of domestic equity, balanced and fixed
income, and sector and specialty mutual funds. Hennessy Advisors,
Inc. is committed to its consistent and repeatable investment
process, combining time-tested stock selection strategies with a
highly disciplined, team-managed approach, and to superior service
to shareholders.
Additional Information
Nothing in this press release
shall be considered a solicitation to buy or an offer to sell a
security to any person in any jurisdiction where such offer,
solicitation, purchase or sale would be unlawful under the
securities laws of such jurisdiction.
Available Topic Expert(s): For information on the listed
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Neil J. Hennessy
http://www.profnetconnect.com/neil_hennessy
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SOURCE Hennessy Advisors, Inc.