Hennessy Advisors has added an institutional share class to four of its funds. The share class will have an minimum investment of $250,000 and an expense ratio capped at 98 bps.

Neil Hennessy Hennessy Funds president and PM

"We launched the new share class to give large purchasers a little bit of a break, " Neil Hennessy, president and portfolio manager of Hennessy Funds told The MFWire. "We think capping the expense ratio under one percent will appeal to institutional investors and help us to capture more of these assets."

Fund getting the additional share class include: the Hennessy Cornerstone Growth Fund, Hennessy Cornerstone Growth Fund, Series II, Hennessy Focus 30 Fund and Hennessy Cornerstone Value Fund.  

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