Subsequent Event

12 Months Ended

Sep. 30, 2011

Subsequent Event [Abstract]

Subsequent Event

(13) Subsequent Event

Subsequent to the fiscal year ended September 30, 2011, the assets under management of the Hennessy Cornerstone Growth Fund, Series II were combined into the Hennessy Cornerstone Growth Fund. The Hennessy Cornerstone Growth Fund and the Hennessy Cornerstone Growth Fund, Series II had identical investment objectives and investment strategies. The only material difference in these funds was that the stocks were purchased, and the portfolio was rebalanced, at different times of the year.

The transaction was completed as of October 28, 2011. The merger of the Hennessy Cornerstone Growth Fund, Series II into the Hennessy Cornerstone Growth Fund should have no effect on the operating revenues of the Company as the funds continue to earn income at the same rate of 0.84% of average daily net assets. The cost of combining the funds, currently $0.04 million, will be paid by the Company and will be capitalized as part of the acquisition of management contracts.