MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, March 1, 2004 Merger Boosts Hennessy Assets A northern California fund firm is growing its assets base by picking up the Lindner funds. Novato-headquartered Hennessy Advisors, Inc. folded the assets of four funds from Lindner Asset Management, Inc. mutual funds into its own lineup Friday after Lindner shareholders voted to approve the merger. The $291 million in the Lindner Small-Cap Growth, Lindner Communications, Lindner Growth & Income and Lindner Large-Cap Growth Funds brings Hennessy’s assets under management to $1.34 billion. Hennessy officials said the merger will lower expense ratios for existing Hennessy shareholders in two funds and for shareholders in three of the Lindner funds. Neil J. Hennessy, president, chairman and CEO of Hennessy Advisors said he wanted "to welcome the Lindner shareholders to the Hennessy family of funds and thank them for their strong vote of confidence in us." One additional fund, the Lindner Market Neutral Fund, will also be transferred to Hennessy upon shareholder approval. Printed from: MFWire.com/story.asp?s=6752 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |