Pending Asset Purchase of the Stance Equity ESG Large Cap Core ETF |
12 Months Ended | ||
|---|---|---|---|
Sep. 30, 2022 | |||
| Business Combination and Asset Acquisition [Abstract] | |||
| Pending Asset Purchase of the Stance Equity ESG Large Cap Core ETF |
On August 29, 2022, the Company announced that it signed a definitive agreement with Stance Capital, LLC and Red Gate Advisers, LLC, among others, to purchase the assets related to the management of the Stance Equity ESG Large Cap Core ETF. The Company filed a Current Report on Form 8-K regarding this transaction on August 30, 2022. Upon completion of the transaction, the assets related to the Stance Equity ESG Large Cap Core ETF will be reorganized to become a series of Hennessy Funds Trust named the Hennessy Stance ESG Large Cap ETF. The transaction is subject to customary closing conditions, including SEC approval of an exemptive order allowing the Hennessy Stance ESG Large Cap ETF to operate under the Portfolio Reference Basket structure licensed by the Blue Tractor Group, as well as approval by the Board of Trustees of Hennessy Funds Trust, the Board of Directors of The RBB Fund, Inc. (of which the Stance Equity ESG Large Cap Core ETF is a series), and the shareholders of the Stance Equity ESG Large Cap Core ETF. |