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Wednesday, March 23, 2011

Neil Hennessy Says 'We're Still Here'

News summary by MFWire's editors

From starting out with no assets, clients, and other essentials such as heat and air conditioning, Neil Hennessy, president and chief investment officer of Hennessy Funds [see profile], recently shared some of this thoughts about the mutual fund business and his "ground zero" beginnings in the business. with the Wall Street Transcript.

Among other things, Hennessy confided with the pub that the more difficult part of running a mutual fund shop is managing the company for the benefit of the shareholders, which he said has become increasingly difficult on a daily basis. Hennessy also takes pride in that fact that his firm has "persevered through every kind of stock market and economic crisis" while other shops such as Lehman, Wachovia and Bear Stearns have fallen victim to the recent financial crisis. 

Edited by: Hung Tran


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