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Novato’s Hennessy Advisors To Buy The Westport Funds With $640M In Assets

TedTed
in The Bullpen
FYI: Hennessy Advisors Inc. (NASDAQ: HNNA) plans to acquire management of about $640 million in mutual funds from a Milwaukee-based firm.

Hennessy signed a definitive agreement with Westport Advisers LLC to purchase the assets related to the management of The Westport Funds, which are the Westport Fund and the Westport Select Cap Fund, the Novato-based company announced May 2. Upon completion of the transaction, the assets related to the Westport Fund and the Westport Select Cap Fund will merge into the Hennessy Cornerstone Mid Cap 30 Fund, with shareholders of the Westport Funds becoming shareholders of the Hennessy Cornerstone Mid Cap 30 Fund
Regards,
Ted
http://www.northbaybusinessjournal.com/northbay/marincounty/5570806-181/hennessy-advisors-westport-funds

Hennessy Funds Website:
http://hennessyadvisors.com/press/WestportAnnouncement.htm
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