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Novato, CA - August 16, 2005 - Neil Hennessy,
President, Chairman and CEO of Hennessy Advisors, Inc. was
recognized in the August 15, 2005 issue of Barron's as one
of the top 100 mutual fund managers in the nation. Hennessy’s
rank jumped to #8 as manager of The Hennessy Cornerstone Growth
Fund, up from #9 last year and from #16 in 2003.
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 discipline and 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 4,985 equity
funds, screening out those with more than two managers and
managers that have been at the helm for less than three years.
The funds that remained were then organized by investment
objective, eliminating sector funds and those with less than
$100 million in assets. 865 managers qualified to be ranked.
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc., headquartered in Novato, California,
manages the Hennessy Funds, a family of six no-load mutual
funds, which satisfy a variety of investment horizons and
risk tolerance levels. In addition to the Cornerstone Growth
Fund (HFCGX) the company also manages 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).
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