Novato, CA - September 3, 2004 - Neil Hennessy,
President and Chairman of Hennessy Advisors of Novato, was
recognized in the August 2004 issue of Barron's as one of
the top 100 mutual fund managers in the nation. Hennessy’s
rank jumped to #9 as manager of The Hennessy Cornerstone Growth
Fund, up from #16 last year.
The Hennessy Cornerstone Growth Fund is a small-cap growth
fund that utilizes a quantitative stock selection strategy,
and the fund is managed with the consistency of an index fund.
Hennessy attributes the success of the fund to its proven,
time-tested stock selection formula and to Hennessy Advisors’
straight-forward, disciplined investment management style.
Managers that outperformed their peers and have done so
by delivering less volatile returns made the Barron’s
list of the industry's top 100. The Barron's/Value Line annual
rankings system awards points to managers who generate more
stable returns and subtracts points from funds deemed too
volatile. A manager with average performance and volatility
gets a score of zero. Value Line first scanned 8,675 equity
funds, screening out those with more than two managers. The
funds that passed were then organized by investment objective,
eliminating sector funds and those with less than $50 million
in assets. Only 536 managers qualified to be ranked.
About Hennessy Advisors
The Hennessy Advisors, headquartered in Novato, California,
manages the Hennessy Funds, which is a family of five no-load
mutual funds, satisfying a variety of investment horizons
and risk tolerance levels. In addition to the Cornerstone
Growth Fund (HFCGX) the company also manages the Hennessy
Cornerstone Value Fund (HFCVX), the Hennessy Focus 30 Fund
(HFTFX), the Hennessy Total Return Fund (HDOGX) and the Hennessy
Balanced Fund (HBFBX).
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