Novato, Calif.-based Hennessy Advisors wrapped up its acquisition of assets from 10 fund products of FBR Funds. The FBR funds have been reorganized into the Hennessy Funds line, bringing Hennessy's total assets under management to some $3.1 billion and the total number of shareholders to about 180,000.
"I want to personally thank the shareholders of the FBR Funds for their vote of confidence and welcome them to the Hennessy family of funds," said Hennessy Advisors chairman and CEO Neil Hennessy, in a press release.