is making arrangements for its distribution push. Effective Friday, the firm will eliminate all redemption and exchange fees from each of its 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.
The company has also promoted Brian Peery
to director of research for the firm. Peery, who has been with Hennessy for six years, will focus on developing partnerships with research analysts at top-tier wirehouses, banks, TAMP's and independent and regional broker/dealers.
To bolster distribution of its funds, Hennessy hired Kevin Rowell
from Pioneer Funds Distributor as president of Hennessy Funds (see
June 4, 2008).
Company Press Release
NOVATO, Calif., Aug. 28 /PRNewswire-FirstCall/ -- Hennessy Advisors,
Inc. (OTC Bulletin Board: HNNA), 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
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 wirehouses, 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.
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,"
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
The funds' investment objectives, risks, charges and expenses must be
considered carefully before investing. The prospectus contains this and
other important information about the investment company, and it may be
obtained by calling 1-800-966-4354 or visiting
http://www.hennessyfunds.com. Please read the prospectus carefully before
Mutual fund investing involves risk; principal loss is possible.
Quasar Distributors, LLC, Distributor.
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