Hennessy Advisors has completed the acquisition of assets related to the management of ten FBR Funds, which have been reorganized into the Hennessy fund family.
Seven of the ten FBR Funds will continue to be managed by the same portfolio managers and with the same investment objectives. The three remaining FBR Funds will be transferred into existing Hennessy Funds that have a similar investment objective.
Hennessy Advisors, based in Novato, Calif., now has total assets under management of $3.1 billion and total shareholders of approximately 180,000.
Please send items for On the Move to Kathy Lynch.