Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A $55MM-AUM ETF Gobbles One MF, But ... Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, November 14, 2023

A $55MM-AUM ETF Gobbles One MF, But ...

Reported by Neil Anderson, Managing Editor

The team at a publicly traded mutual fund firm has finalized one of a pair of related deals to boost their first ETF. Stay tuned for word on the second deal.

Neil Joseph Hennessy
Hennessy Advisors, Inc. / Hennessy Funds
Chairman, CEO / Chairman, President, Chief Market Strategist, Portfolio Manager
On Friday, Neil Hennessy, chairman and CEO of Hennessy Advisors, Inc. [profile], and Alyssa Greenspan, CEO and president of Community Capital Management, LLC (CCM [profile]), confirmed Hennessy has closed on its purchase of assets related to the CCM Small/Mid-Cap Impact Value Fund. That $12-million-AUM fund has been merged into the Hennessy Stance ESG ETF (STNC), which now has $55 million in AUM (as of yesterday).

"We remain confident that the Hennessy Stance ESG ETF is the right home for our equity mutual fund shareholders," Greenspan states.

Meanwhile, the CCM and Hennessy teams are still working on a related deal: the merger of CCM's other equity mutual fund, the $53-million-AUM CCM Core Impact Equity Fund, into STNC. The special meeting of shareholders for that merger has been adjourned to November 21, the Hennessy and CCM folks confirm, and that deal is pending shareholder approval.

The two CCM-Hennessy fund mergers were unveiled back in April. And Hennessy bought STNC last December. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use