NAPLES, Fla., Oct. 12, 2016 /PRNewswire/ -- Minella Capital Management LLC ("MCM") today announced the closing of the acquisition of a majority stake in the business of W.E. Donoghue & Co., Inc. ("WEDCO" or the "Company"), a Norwood, Massachusetts-based registered investment advisor specializing in tactical strategies with over $1.8 billion in assets under management and/or advisement.
Founded in 1986, WEDCO is a pioneer in delivering tactical allocation strategies designed in an effort to generate sustainable income while preserving capital in all market cycles. WEDCO's strategies are offered via separately managed accounts as well as through the Power Dividend Index Fund and the Power Income Fund. The Company's strategies primarily employ proprietary indices developed in conjunction with S-Networks Global Indexes and S&P Dow Jones Indices LLC.
MCM's agreement to acquire a majority stake in WEDCO was originally announced on July 13, 2016.
Silver Lane Advisors LLC served as financial advisor to W.E. Donoghue & Co., Inc. and Alston & Bird LLP acted as legal counsel. Finn Dixon & Herling LLP acted as legal counsel to MCM.
About W.E. Donoghue & Co., Inc.
W.E. Donoghue & Co., Inc. is a registered investment advisor established in 1986. The firm is a pioneer in delivering tactical asset allocation solutions to individual and institutional separate account clients as well as mutual fund clients. WEDCO offers separate account strategies which employ individual securities, exchange-traded funds (ETFs) and traditional mutual fund allocations as well as variable annuity strategies. In addition, the firm is the adviser to the Power Dividend Index Fund and the Power Income Fund.
For more information about W.E. Donoghue & Co., Inc. visit www.donoghue.com.
About Minella Capital Management LLC.
Minella Capital Management LLC is a private equity firm established in 2007 to make growth equity investments in leading investment management companies. MCM was founded by David A. Minella, an experienced entrepreneur and former CEO of a number of leading asset managers including Aligned Asset Managers LLC, Value Asset Management LLC and the asset management division of Liechtenstein Global Trust. Mr. Minella has extensive experience investing in, and growing, asset management companies.
For more information about Minella Capital Management, visit www.minellacap.com.
(800) 642-4276 ext. 4220
There is no guarantee that any investment strategy will achieve its objectives, generate profits or avoid losses. Investors should carefully consider the investment objectives, risks, charges, and expenses of the Power Dividend Index Fund and Power Income Fund. This and other information about the Funds is contained in the prospectus and should be read carefully before investing. The prospectus can be obtained by calling toll free 1-877-779-7462 (1-877-7-PWRINC). The Power Dividend Index Fund and Power Income Fund are distributed by Northern Lights Distributors, LLC. Member FINRA/SIPC. W.E. Donoghue & Co., Inc. and Minella Capital Management, LLC are not affiliated with Northern Lights Distributors, LLC.
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SOURCE W.E. Donoghue & Co., Inc.