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Wednesday, May 12, 2021 Up 21 Percent YOY - A Boutique's AUM Rebounds A small, publicly traded mutual fund firm's AUM has bounced back in the past year, though its revenue and earnings have not yet recovered.
Yet Hennessy Advisors' average AUM for fiscal Q2 2021 is still down 10.5 percent year-over-year. Thus, its Q2 2021 revenue ($7.934 million) and net income ($1.886 million) are both still down year-over-year, 10.6 percent and 4.3 percent each, respectively. "While our average assets for the period are still rebounding from last year's sharp market decline, our year-over-year total ending assets under management have increased. Our cash growth continues to be strong, and we will once again pay our quarterly dividend while strengthening our balance sheet," states Terry Nilsen, president and chief operating officer. "Even in the toughest of times, we continue to make great progress and invest in our people, technology, and mutual fund products." Printed from: MFWire.com/story.asp?s=62873 Copyright 2021, InvestmentWires, Inc. All Rights Reserved |