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Novato, CA – March 3, 2008
Hennessy Advisors, Inc., 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).
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