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 |
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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