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Bancroft Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities.
The Fund’s objectives are providing income and the potential for capital appreciation. The Fund considers these objectives to be relatively equal, over the long term, due to the nature of the securities in which it invests.
Strategic Income: These securities offer the potential for higher returns through equity upside and strong yields.
James Dinsmore, CFA, joined Gabelli Funds LLC. in 2015. He currently serves as portfolio manager of Gabelli Funds, LLC and manages several funds within the Gabelli/GAMCO Funds Complex. James holds a BA in economics from Cornell University and an MBA from Rutgers University. jdinsmore@gabelli.com (914) 921-8388
Supported by a centralized team of 30+ sector-focused analysts supporting Growth and Value portfolios
A graphical measurement of a portfolio’s net return that simulates the performance of an initial investment of $10,000 over the given time period.
| Symbol | Company | Sector | Portfolio |
|---|---|---|---|
| B | UNITED STATES TREASURY BILL | Industrials | 4,349,107.63 |
| NOG | NORTHERN OIL & GAS INC | Energy | 3,701,425.00 |
| PSN | PARSONS CORP | Industrials | 3,505,250.00 |
| PPL | PPL CAPITAL FUNDING INC | Utilities | 3,364,500.00 |
| BABA | ALIBABA GROUP HOLDING LTD | Consumer Discretionary | 3,287,275.00 |
| CSGS | CSG SYSTEMS INTERNATIONAL INC | Industrials | 3,249,000.00 |
| SRPT | SAREPTA THERAPEUTICS INC | Health Care | 3,165,400.00 |
| ARRY | ARRAY TECHNOLOGIES INC | Industrials | 3,160,510.84 |
| DLR | DIGITAL REALTY TRUST LP | Real Estate | 2,978,400.00 |
| MPUS | MP MATERIALS CORP | 2,972,450.31 |
Gross Expense Ratio
1.30%
Net Expense Ratio
1.10%
Maximum Sales Charge
0.00%
Performance returns for periods of less than one year are not annualized. Returns represent past performance and do not guarantee future results. Investment returns and the principal value of an investment will fluctuate. The Fund’s use of leverage may magnify the volatility of net asset value changes versus funds that do not employ leverage. When shares are sold, they may be worth more or less than their original cost. Current performance may be lower or higher than the performance data presented. Visit www.gabelli.com for performance information as of the most recent month end. NAV total returns would have been lower had Gabelli Funds, LLC (the Adviser) not reimbursed certain expenses of the Fund. The ICE BofA U.S. Convertibles Index is a market value weighted index of all dollar denominated convertible securities that are exchangeable into U.S. equities that have a market value of more than $50 million. The Bloomberg Balanced U.S. Convertibles Index is a market value weighted index that tracks the performance of publicly placed, dollar denominated convertible securities that are between 40% and 80% sensitive to movements in their underlying common stocks. Dividends and interest income are considered reinvested. You cannot invest directly in an index.
The Fund’s fiscal year ends on September 30.
Total returns and average annual returns reflect changes in the NAV per share, reinvestment of distributions at NAV on the ex-dividend date for the period beginning November 2015, and are net of expenses. For the period December 2008 through October 2015, distributions were reinvested on the payable date using market prices. For the period May 2006 through November 2008, distributions were reinvested on the payable date using NAV. Total returns and average annual returns were adjusted for the 1987 tender offering (no adjustments were made for the 1982 and 2007 tender offers nor for the 1987 or 2003 rights offerings). Since inception return is based on an initial NAV of $22.92.
Total returns and average annual returns reflect changes in closing market values on the NYSE American and reinvestment of distributions. Total returns and average annual returns were adjusted for the1987 tender offering (no adjustments were made for the 1982 and 2007 tender offers nor for the 1987 or 2003 rights offerings). Since inception return is based on an initial offering price of $25.00.
The ICE BofA U.S. Convertibles Index inception date is December 31, 1987.
The Bloomberg Balanced U.S. Convertibles Index inception date is January 1, 2003.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing.
