NOVATO, Calif., Sept. 17, 2013 /PRNewswire/ -- Hennessy Advisors, Inc. (OTCBB:HNNA) today announced that assets under management have surpassed the $4 billion mark. The increase in assets this year is attributable to strong market appreciation and net purchases in the firm's domestic equity, specialty, balanced and fixed income mutual funds.
"We are pleased to hit this significant milestone so quickly," said Neil Hennessy, President, Chairman and CEO of Hennessy Advisors, Inc. "I am particularly proud that with thousands of investment products available, a growing number of investors are choosing our funds," he added. Hennessy serves over 12,000 Financial Advisors and 215,000 shareholders nationwide.
"I have been saying for some time that the stock market and the economy are much stronger than people believe, and it is great to see investors return to buying high‑quality mutual funds for their portfolios. We couldn't be more pleased with the strong results of our family of funds, which has allowed us to grow our asset base by nearly $1 billion in under nine months," noted Mr. Hennessy.
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, specialty, balanced and fixed income mutual funds. Hennessy Advisors, Inc. is committed to its consistent and repeatable investment process, combining time-tested stock selection strategies with a highly disciplined, team-managed approach, and to superior service to shareholders.
Nothing in this press release shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.
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Neil J. Hennessy
SOURCE Hennessy Advisors, Inc.