NOVATO,
Calif., Dec. 22, 2022 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ: HNNA) today announced that it has
completed the transaction to become the advisor of the Stance
Equity ESG Large Cap Core ETF (NYSE: STNC) (the "Stance ETF").
As a result, the Stance ETF has been reorganized to become a
series of Hennessy Funds Trust named the Hennessy Stance ESG Large
Cap ETF (the "Hennessy Stance ETF").
This transaction represents approximately $43 million in assets. Stance Capital, LLC will
sub-advise the Hennessy Stance ETF, meaning current Portfolio
Managers Bill Davis and Kyle Balkissoon will continue providing
day-to-day management of the Hennessy Stance ETF portfolio.
Neil Hennessy, Chairman and CEO
of Hennessy Advisors, Inc., noted, "We want to welcome Stance
Capital to our team of skilled sub-advisors, and want to thank the
shareholders of the Stance ETF for their vote of confidence.
This deal represents our eleventh successful acquisition, and we
are excited to expand our product offerings into the ETF
market."
"We are delighted to partner with Stance Capital, Vident
Investment Advisory, and Blue Tractor Group for the Hennessy Stance
ETF, and we are committed to providing a continuity of excellent
service to our new shareholders," added Teresa M. Nilsen, President and Chief Operating
Officer of Hennessy Advisors, Inc.
Bill Davis, Founder of Stance
Capital remarked, "We want to thank the entire team at Hennessy for
making this a smooth and seamless transaction. We are enthusiastic
to move forward with Hennessy Advisors, Inc. as our new advisor and
we look forward to a promising future."
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment manager
offering a broad range of domestic equity, multi-asset, and sector
and specialty funds. Hennessy Advisors, Inc. is committed to
providing superior service to shareholders and employing a
consistent and disciplined approach to investing based on a buy and
hold philosophy that rejects the idea of market timing.
Additional Information
Nothing in this press release shall be considered a solicitation
to buy or an offer to sell a security to any person in any
jurisdiction where such offer, solicitation, purchase, or sale
would be unlawful under the securities laws of such
jurisdiction.
Forward-Looking Statements
This press release contains "forward-looking statements" for
which Hennessy Advisors, Inc. claims the protection of the safe
harbor contained in the Private Securities Litigation Reform Act of
1995. Forward-looking statements relate to expectations and
projections about future events based on currently available
information. Forward‑looking statements are not a guarantee of
future performance or results and are not necessarily accurate
indications of the times at which, or means by which, such
performance or results may be achieved. Forward‑looking statements
are subject to risks, uncertainties, and assumptions, including
those described in the sections entitled "Risk Factors" and
elsewhere in the reports that Hennessy Advisors, Inc. files with
the Securities and Exchange Commission. Unforeseen developments
could cause actual performance or results to differ substantially
from those expressed in, or suggested by, the forward‑looking
statements. Hennessy Advisors, Inc. management does not assume
responsibility for the accuracy or completeness of the
forward‑looking statements and undertakes no responsibility to
update any such statement after the date of this press release to
conform to actual results or to changes in expectations.
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SOURCE Hennessy Advisors, Inc.