Upon completion of the transaction, which is subject to regulatory approvals and the approval of Tamarack Funds' shareholders and Trustees, Hennessy Advisors will become the manager of the Tamarack Value Fund and Voyageur Asset Management will act as the Fund's sub-advisor. The assets related to the Tamarack Large Cap Growth Fund will be invested in the Hennessy Large Cap Growth Fund, with Hennessy Advisors as the manager of the Fund. The transaction will be tax-free for Tamarack Fund shareholders. This transaction is expected to be completed by the end of March, 2009.
"We are very pleased to acquire these funds, and we look forward to welcoming the shareholders of the Tamarack Value Fund and Tamarack Large Cap Growth Fund into the Hennessy family. We are committed to providing strong investment management and performance, quality customer service and a high standard of business ethics to our shareholders, and we are very proud of our track record in each of these areas," said Neil Hennessy, Chairman, CEO and President of Hennessy Advisors, Inc. "We are excited to enter into a new sub-advisory partnership with Tamarack, and we believe that adding these outstanding funds to our lineup will strengthen our distribution efforts," said Kevin Rowell, President of Hennessy Funds.
Hennessy Advisors, Inc. is a publicly traded investment advisor to an entire line-up of quantitatively managed mutual funds. Hennessy Advisors, Inc. is committed to their time-tested stock selection formulas and disciplined money management approach.