Hennessy Advisors, Inc. has acquired the assets related to the management of the Tamarack Large Cap Growth Fund and the Tamarack Value Fund, which have close to $160 million in assets and represent some 17,000 shareholders. Hennessy acquired these assets from RBC’s Voyageur Asset Management.
Shares of the Tamarack Large Cap Growth Fund will be exchanged for shares of the Hennessy Cornerstone Large Growth Fund (HFLGX), and the fund will be managed by Hennessy Advisors following a purely quantitative, time tested investment formula.
Shares of the Tamarack Value Fund will be exchanged for shares of the Hennessy Select Large Value Fund (HSVFX), and Hennessy Advisors has retained Voyageur Asset Management as sub advisor to manage the portfolio of the fund. Hennessy is also launching Institutional Class shares of each of these two new Funds.