Hennessy Advisors surpasses USD5bn AUM
Assets under management (AUM) in the mutual funds managed by Hennessy Advisors have surpassed the USD5 billion mark, following strong investor inflows and investment gains.
Hennessy Advisors had topped the USD3 billion mark in assets under management with the acquisition of the FBR Funds in October 2012, and the firm reached USD4 billion in assets under management in September 2013.
"With 16 funds spanning domestic, sector, specialty and balanced equity categories, we believe our products can play a role in nearly every investor's portfolio, and we have continued to see strong interest from financial advisors and individual investors alike," says Neil Hennessy, president, chairman and CEO of Hennessy Advisors.
Hennessy serves approximately 15,000 financial advisors and over 250,000 account holders nationwide.
"At Hennessy, we believe that quality investments begin and end with a consistent and repeatable investment approach, and we strive to give our investors the best chance to achieve returns that are balanced, mindful of downside risk and sustainable over the long run," says Hennessy. "We expect that as the economy continues to recover investors will fully return to buying high‑quality mutual funds for their portfolios, and we are hopeful they will consider Hennessy as a partner in helping to achieve their long-term financial goal.”
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