Novato, CA – August 12, 2008
Neil Hennessy, President, Chairman and CEO of Hennessy Advisors,
Inc. and Chairman and Portfolio Manager of Hennessy Funds,
was recognized in the August 11, 2008 issue of Barron's
as one of the top 100 mutual fund managers in the nation.
Hennessy ranked #17 as manager of the Hennessy Focus 30 Fund.
Hennessy has the distinction of being listed among Barron’s
Top 100 Managers in each of the last six years.
“While I am very proud to again be named to Barron’s
list of best fund managers, I share this award with the rest
of the Hennessy team who have worked very hard to deliver
strong and consistent performance to our fund shareholders,”
said Mr. Hennessy. “We attribute the success of the
Hennessy Focus 30 Fund to its quantitative, time-tested stock
selection formula and to our disciplined and repeatable investment
management process,” he added. The Hennessy Focus 30
Fund is a mid-cap blend fund, and it selects 30 domestic equities
with market cap between $1 and $10 billion which also pass
a number of quantitative value and momentum screens.
Fund managers named to the Barron’s list of
the industry's top 100 have consistently outperformed their
peers. 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. Superior
managers get positive scores commensurate with the value they’ve
added to a fund’s performance on an annualized basis.
Value Line first scanned 1,008 equity funds, screening out
those with more than two lead managers and managers with less
than three years’ tenure. The remaining funds were then
organized by investment objective, and those with less than
$200 million in assets were eliminated. 564 managers qualified
to be ranked.
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc., is the investment manager of the
Hennessy Funds, a family of formula-driven mutual funds. Each
of the Hennessy Funds utilizes a quantitative stock selection
strategy and is managed with strict discipline and consistency.
In addition to the Hennessy Focus 30 Fund (HIFTX-institutional
class/HFTFX-original class) the company also manages the Hennessy
Cornerstone Growth Fund (HICGX/HFCGX), the Hennessy Cornerstone
Growth Fund, Series II (HINLX/HENLX), the Hennessy Cornerstone
Value Fund (HICVX/HFCVX), the Hennessy Total Return Fund (HDOGX)
and the Hennessy Balanced Fund (HBFBX).
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