Hennessy Funds Positioning for Increased Distribution
28 Agosto 2008 - 7:50PM
PR Newswire (US)
NOVATO, Calif., Aug. 28 /PRNewswire-FirstCall/ -- Hennessy
Advisors, Inc. (OTC:HNNA) (BULLETIN BOARD: HNNA) , investment
manager of the Hennessy Funds, today announced two initiatives
aimed at better positioning the company for increased sales and
distribution in the advisor and institutional marketplace.
Effective 8/29/08, all redemption and exchange fees will be
eliminated for each of the Hennessy Funds. "We recognize that
professional financial advisors need ultimate flexibility to adjust
asset allocations for their clients, without any penalties or
obstacles," said Neil Hennessy, Chairman, President and CEO of
Hennessy Advisors, Inc. and Chairman and CIO of Hennessy Funds. "We
have procedures in place to monitor market timing or excessive
trading, so we feel very confident in eliminating these fees across
the board," he added. Kevin Rowell, President of Hennessy Funds,
has also announced that Brian Peery has been named Director of
Research for the firm. In this newly created position, Peery will
focus solely on partnering with research analysts at top-tier
wirehouses, banks, TAMP's and independent and regional
broker/dealers. Peery has over fifteen years experience in the
financial services industry, having held various research, analyst
and institutional roles, and has been with Hennessy Funds for the
past six years. "We understand that it is critical to have a
dedicated team to serve research analysts and consultants. With his
extensive analytical and relationship management background, as
well as a deep understanding of our portfolios, Brian is an ideal
choice to head up the Hennessy research organization," said Rowell.
About Hennessy Advisors, Inc. Hennessy Advisors, Inc. is the
investment manager of the Hennessy family of mutual funds. Each of
the Hennessy Funds employs a time-tested, quantitative stock
selection strategy and is managed with strict discipline and
consistency. The Hennessy Funds are comprised of: Hennessy Focus 30
Fund (HFTFX-Original class shares; HIFTX-Institutional class
shares) Hennessy Cornerstone Growth Fund (HFCGX-Original class
shares; HICGX-Institutional class shares) Hennessy Cornerstone
Growth Fund, Series II (HENLX-Original class shares;
HINLX-Institutional class shares) Hennessy Cornerstone Value Fund
(HFCVX-Original class shares; HICVX-Institutional class shares)
Hennessy Total Return Fund (HDOGX-Original class shares) Hennessy
Balanced Fund (HBFBX-Original class shares) Supplemental
Information 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 the prospectus carefully before investing. Mutual fund
investing involves risk; principal loss is possible. 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: Tania Kelley of
Hennessy Advisors, Inc., 1-800-966-4354, +1-415-899-1555 Web site:
http://www.hennessyadvisors.com/
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