Novato, CA – August 15, 2006
– Hennessy Advisors, Inc. (OTCBB:HNNA) Neil
Hennessy, President, Chairman and CEO of Hennessy Advisors,
Inc. was recognized in the August 14, 2006 issue of Barron's
as one of the top 100 mutual fund managers in the nation.
Hennessy’s rank jumped to #6 as manager of the Hennessy
Cornerstone Growth Fund, up from #8 last year, from #9 in
2004 and from #16 in 2003. Mr. Hennessy was also one of just
three managers to be recognized more than once on the 2006
list of Top 100 Managers. Hennessy also ranked #39 on the
list as manager of the Hennessy Cornerstone Value Fund.
“We are proud to once again be named to Barron’s
list of top fund managers, and we are most pleased to have
been able to deliver strong and consistent performance to
our fund shareholders” said Mr. Hennessy. “We
attribute the success of these funds to their quantitative,
time-tested stock selection formulas and to our straight-forward,
disciplined investment management style,” he added.
The Hennessy Cornerstone Growth Fund is classified as a small-cap
blend fund, while the Hennessy Cornerstone Value Fund is classified
as a large-cap value fund.
Fund managers named to the Barron’s list of the industry's
top 100 have outperformed their peers and have done so by
delivering less volatile returns. 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 3,344 equity
funds, screening out those with more than two managers and
managers with less than three years’ tenure. The remaining
funds were then organized by investment objective, and then
sector funds and those with less than $100 million in assets
were eliminated. 505 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. 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 Cornerstone Growth Fund (HFCGX) and Cornerstone Value
Fund (HFCVX) the company also manages the Hennessy Cornerstone
Growth Fund, Series II (HENLX), the Hennessy Focus 30 Fund
(HFTFX), the Hennessy Total Return Fund (HDOGX) and the Hennessy
Balanced Fund (HBFBX).
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