Hennessy Acquires Rainier Large Cap Equity and Rainier Mid Cap Equity Funds
December 1, 2017
- Hennessy Advisors, Inc., the investment manager of the Hennessy Funds, today announced that it has completed the
acquisition of assets related to the management of the Rainier Large Cap Equity
Fund and the Rainier Mid Cap Equity Fund. As a result, the Rainier Large Cap
Equity Fund will be reorganized into the Hennessy Cornerstone Large Growth Fund,
and the Rainier Mid Cap Equity Fund will be reorganized into the Hennessy Cornerstone
Mid Cap 30 Fund effective for shareholders on December 4, 2017, based on closing prices as of December 1, 2017, as follows:
NAV as of Dec. 1 Conversion Ratio
Rainier Large Cap Equity, Original (RIMEX) $13.9939 1.12723532 shares of
Rainier Large Cap Equity, Institutional (RAIEX) $14.7365 1.17517522 shares of
Rainier Mid Cap Equity, Original (RIMMX) $34.0115 1.48488000 shares of HFMDX
Rainier Mid Cap Equity, Institutional (RAIMX) $36.1431 1.53612369
shares of HIMDX
Hennessy Cornerstone Large Growth, Original (HFLGX) $12.4143 ___
Hennessy Cornerstone Large Growth, Institutional (HILGX) $12.5398 ___
Hennessy Cornerstone Mid
Cap 30, Original (HFMDX) $22.9052 ___
Hennessy Cornerstone Mid Cap 30, Institutional (HIMDX) $23.5287 ___
want to thank the shareholders of the Rainier Large Cap Equity and Rainier Mid
Cap Equity Funds for placing their confidence in us and welcome them into the
Hennessy family of funds,” said Neil Hennessy, Chairman, CEO and President of
Hennessy Advisors, Inc. and President and Chief Investment Officer of Hennessy Funds. “We are honored to have the opportunity to serve these
shareholders and look forward to helping them meet their investment goals,” he
Special Meeting of shareholders of the Rainier Small/Mid Cap Equity Fund, the
last remaining Rainier U.S. Fund, has been adjourned to December 26, 2017.
Pending shareholder approval, the Rainier Small/Mid Cap Equity Fund will be
reorganized into the Hennessy Cornerstone Mid Cap 30 Fund in mid-January 2018.
For more information, please read the FAQs regarding the reorganization.
About Hennessy Funds
Hennessy Funds offers a wide range of domestic equity, multi-asset, sector and specialty mutual funds. Hennessy is committed to its consistent and repeatable investment process, combining time-tested stock selection strategies with a highly disciplined, team-managed approach and to providing superior service to shareholders.