Hennessy Funds Launches Institutional Share Class
03 Marzo 2008 - 1:00PM
PR Newswire (US)
NOVATO, Calif., March 3 /PRNewswire-FirstCall/ -- Hennessy
Advisors, Inc. (OTC:HNNA) (BULLETIN BOARD: HNNA) , investment
manager of the Hennessy family of mutual funds, today announced the
launch of an Institutional share class of its Hennessy Cornerstone
Growth Fund (HICGX), Hennessy Cornerstone Growth Fund, Series II
(HINLX), Hennessy Focus 30 Fund (HIFTX) and Hennessy Cornerstone
Value Fund (HICVX). These funds each require a minimum investment
of $250,000 and have an expense ratio capped at 0.98%. "We are
excited to expand our product offering to the institutional
marketplace with this new share class of these quantitatively
managed funds," said Neil Hennessy, President and Portfolio Manager
of Hennessy Funds. "We believe that our largest shareholders will
be pleased with the expense ratio of less than 1% for these
Institutional shares, and that the lower cost, coupled with our
history of performance, should make these funds very attractive to
institutional investors and enable us to compete more effectively
for additional assets," he added. About Hennessy Funds Hennessy
Funds offers a family of no-load mutual funds, which satisfy a
variety of investment horizons and risk tolerance levels. Each of
the Hennessy Funds utilizes a quantitative stock selection strategy
and is managed with the discipline and consistency of an index
fund. In addition to the Institutional share class funds mentioned
above, Hennessy also offers an Original share class of six funds,
which includes the Hennessy Cornerstone Growth Fund (HFCGX), the
Hennessy Cornerstone Growth Fund, Series II (HENLX), the Hennessy
Cornerstone Value Fund (HFCVX), the Hennessy Focus 30 Fund (HFTFX),
the Hennessy Total Return Fund (HDOGX) and the Hennessy Balanced
Fund (HBFBX). Supplemental Information Mutual fund investing
involves risk. Loss of principal is possible. Small and
medium-capitalization companies tend to have limited liquidity and
greater price volatility than large-capitalization companies.
Investments in foreign securities involve greater volatility and
political, economic and currency risk and differences in accounting
methods. The funds' investment objectives, risks, charges and
expenses must be considered carefully before investing. The
prospectus contains this and other important information about the
investment company, and it may be obtained by calling
1-800-966-4354 or visiting http://www.hennessyfunds.com/. Please
read it carefully before investing. While the Hennessy Funds are
no-load, management and distribution fees and other expenses apply.
Quasar Distributors, LLC, Distributor. Available Topic Expert(s):
For information on the listed expert(s), click appropriate link.
Neil J. Hennessy
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=36873
DATASOURCE: Hennessy Advisors, Inc. CONTACT: Brian Peery of
Hennessy Advisors, Inc., 1-800-966-4354, or +1-415-899-1555 Web
site: http://www.hennessyadvisors.com/
http://www.hennessyfunds.com/
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