Hennessy Advisors, Inc. Reports Annual Earnings

About this update from Hennessy Advisors, Inc.

[{"type":"text","content":"NOVATO, Calif., Dec. 6, 2023 /PRNewswire/ -- Hennessy Advisors, Inc. (Nasdaq: HNNA) today reported results for the fiscal year ended September 30, 2023.\n\n\"Throughout 2023, speculation about the U.S. economy has been flush with talk of continued inflation, rising unemployment and, of course, warnings of an impending recession,\" said Neil Hennessy, Chairman and CEO. \"The truth of the matter is, while the U.S. economy may have its challenges, I see a lot of positives keeping our economy resilient and productive.\"\n\"Americans continue to be employed, real wages are on the rise (supporting healthy spending), and productivity is surging. Inflation appears to be declining and interest rates have stabilized. All in all, I remain confident that investors are seeing these same signs of stamina and resilience in our economy, and the resulting investor confidence may add further strength to an already positive outlook for the future,\" he continued.\n\"U.S. equities had solid, positive performance for the one-year period ending September 30, 2023, with the S&P 500® Index returning 21.62% and the Dow Jones Industrial Average returning 19.18% for the period. Similar to the overall markets, the majority of our funds performed well: 14 of the 17 Hennessy Funds posted positive returns for the one-year period ended September 30, 2023. What I am most proud of is not just these solid one-year returns, but how our funds have performed over a longer time frame: 13 of the Hennessy Funds posted positive returns for the three-year and five-year periods ended September 30, 2023, and all 14 Hennessy Funds with at least 10 years of operating history posted positive returns for the 10-year period ended September 30, 2023,\" said Neil Hennessy. \"Below are a few highlights of the accolades our funds' stellar long-term performance garnered in recent months.\"\nThe 20 highest-rated large-cap mutual funds from TheStreet Quant Ratings. (November 16, 2023). TheStreet. TheStreet Ratings Staff. The Hennessy Cornerstone Value Fund is ranked number one in the article.Are these 3 Top-Ranked Mutual Funds in Your Retirement Portfolio? (November 7, 2023). Zacks Equity Research. The Hennessy Cornerstone Mid Cap 30 Fund is named in the article.How to Find The Best Style Mutual Funds 3Q23? (August 8, 2023). Forbes. The Hennessy Cornerstone Value Fund ranked first ove...

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