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Novato,
CA – August 28, 2008
- Hennessy Advisors, Inc., investment manager of the Hennessy
Funds, today announced two initiatives aimed at better positioning
the company for increased sales and distribution in the advisor
and institutional marketplace.
Effective
8/29/08, all redemption and exchange fees will be eliminated
for each of the Hennessy Funds. "We recognize that professional
financial advisors need ultimate flexibility to adjust asset
allocations for their clients, without any penalties or obstacles,"
said Neil Hennessy, Chairman, President and CEO of Hennessy
Advisors, Inc. and Chairman and CIO of Hennessy Funds. "We
have procedures in place to monitor market timing or excessive
trading, so we feel very confident in eliminating these fees
across the board,” he added.
Kevin
Rowell, President of Hennessy Funds, has also announced that
Brian Peery has been named Director of Research for the firm.
In this newly created position, Peery will focus solely on
partnering with research analysts at top-tier wire houses,
banks, TAMP’s and independent and regional broker/dealers.
Peery has over fifteen years experience in the financial services
industry, having held various research, analyst and institutional
roles, and has been with Hennessy Funds for the past six years.
“We understand that it is critical to have a dedicated
team to serve research analysts and consultants. With his
extensive analytical and relationship management background,
as well as a deep understanding of our portfolios, Brian is
an ideal choice to head up the Hennessy research organization,”
said Rowell.
About
Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is the investment manager of the Hennessy
family of mutual funds. Each of the Hennessy Funds employs
a time-tested, quantitative stock selection strategy and is
managed with strict discipline and consistency.
The Hennessy Funds are comprised of:
Hennessy
Focus 30 Fund (HFTFX-Original class shares;
HIFTX-Institutional class shares)
Hennessy Cornerstone Growth Fund (HFCGX-Original
class shares; HICGX-Institutional class shares)
Hennessy Cornerstone Growth Fund, Series II (HENLX-Original
class shares; HINLX-Institutional class shares)
Hennessy Cornerstone Value Fund (HFCVX-Original
class shares; HICVX-Institutional class shares)
Hennessy Total Return Fund (HDOGX-Original
class shares)
Hennessy Balanced Fund (HBFBX-Original class
shares)
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