Bringing you live news and features since 2006 

Hennessy Advisors earnings per share rises by 388 per cent

RELATED TOPICS​

Hennessy Advisors has reported fully diluted earnings per share for the fiscal year ended 30 September 2013 of USD0.83, an increase of 388 per cent from the prior year (USD0.17 per share), and an all-time high for the company. 

Total assets under management increased 339 per cent from USD919m at the beginning of the fiscal year to USD4.034bn at the end of the fiscal year, and average assets under management increased by almost 300 per cent, producing a corresponding increase in revenue, net income and earnings per share versus the prior comparable period. 
 
The asset growth was driven by the approximately USD2.2bn purchase of the assets of the FBR Funds in October 2012, strong market appreciation of approximately USD648m, and net inflows of approximately USD243m.
 
"We surpassed USD4bn in assets under management in mid-September, and our growth in assets produced record-setting net income of USD4.8m on revenue of USD24.3m," says Neil Hennessy, president, chairman and chief executive of Hennessy Advisors. "The financial markets have delivered strong results for investors this year, and I continue to believe we will see the Dow Jones Industrial Average hit 20,000 in the next three to five years." 

Latest News

Amundi’s ETF Market Flows Analysis for May finds that global ETF inflows were EUR105.1 billion with US-domiciled equity funds accounting..
MerQube has announced the appointment of Dave Mueller as Chief Financial Officer. Mueller brings 17 years experience operating in corporate..
Northern Trust Asset Management (NTAM), has announced that David Abner is joining as Head of Global ETFs and Funds...
Nvidia’s market cap surge to more than USD3 trillion making it the second most valuable company in the world almost..

Related Articles

CN Tower, Toronto
The winners were announced in the second ETF Express Canadian awards at the event held at The Quay in Toronto,...
Darren Johnson, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Stuart Chaussee
In January this year, global data and business intelligence platform, Statista reported that there are now more than 8000 ETFs...
Ethereum coin
Last week saw Australia launch spot bitcoin ETFs, with Matteo Greco, Research Analyst at Fineqia International, writing that Monochrome Asset...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by