and his team had a record-breaking quarter.
| Neil J. Hennessy|
Hennessy Advisors, Inc.
Chairman, President, CEO
Last week Novato, California-based Hennessy Advisors
fiscal third quarter earnings of $0.56 and revenue of $12 million, both records. Its fiscal Q3 ended on June 30, and it had $6.07 billion in AUM on that day. The 19-person company offers 16 mutual funds.
"We're continuing to bring in new money," Hennessy tells MFWire
, pointing to almost $500 million in new sales. "The RIA market is continuing to look at us."
He adds that his eponymous firm has positive inflows on a daily basis for 71 percent of the trading days in the quarter. That's a metric Hennessy likes to look at himself to take away (somewhat) the impact of movements of big blocks of money.
"We're still looking for acquisitions. We'll see if we can make some," Hennessy says, noting that he's done seven acquisitions since 2000 but none since October 2012. "We're still looking for equity funds, domestic or international."
Hennessy firm specializes exclusively in mutual funds; they do not offer separate account versions of their strategy.
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