NOVATO, Calif., Dec. 1, 2017 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ: HNNA) today announced that it has
completed the acquisition of assets related to the management of
the Rainier Large Cap Equity Fund and the Rainier Mid Cap Equity
Fund. As a result, the Rainier Large Cap Equity Fund will be
reorganized into the Hennessy Cornerstone Large Growth Fund, and
the Rainier Mid Cap Equity Fund will be reorganized into the
Hennessy Cornerstone Mid Cap 30 Fund. This acquisition
represents approximately $122 million
in assets, bringing total assets managed by Hennessy Advisors, Inc.
to nearly $7 billion.
"I want to thank the shareholders of the Rainier Large Cap
Equity and Rainier Mid Cap Equity Funds for placing their
confidence in us and welcome them into the Hennessy family of
funds," said Neil Hennessy,
Chairman, CEO and President of Hennessy Advisors, Inc. "We are
honored to have the opportunity to serve these shareholders and
look forward to helping them meet their investment goals," he
added.
The Special Meeting of shareholders of the Rainier Small/Mid Cap
Equity Fund, the last remaining Rainier U.S. Fund, has been
adjourned to December 26, 2017.
Pending shareholder approval, the Rainier Small/Mid Cap Equity Fund
will be reorganized into the Hennessy Cornerstone Mid Cap 30 Fund
in mid-January 2018.
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment manager
offering a broad range of domestic equity, multi-asset, 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: For information on the listed expert,
click appropriate link.
Neil J. Hennessy -
http://www.profnetconnect.com/neil_hennessy
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SOURCE Hennessy Advisors, Inc.