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Bancroft Fund Ltd. operates as a diversified, closed-end management investment company and invests primarily in convertible securities.
The Fund’s objectives are providing income and the potential for capital appreciation, by investing in convertible securities. Under normal market conditions the Fund will invest 65% of its assets in convertible securities. 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.
Returns represent past performance and do not guarantee future results. Due to market volatility, current performance may be lower or higher than the performance data quoted. Total return and average annual returns are historical and reflect changes in share price, reinvestment of dividends and capital gains and are net of expenses. Investment return and principal value will fluctuate so, upon redemption, shares may be worth more or less than their original cost. To obtain the most recent month end performance information and a prospectus, please call 800-GABELLI or visit www.gabelli.com.
| Symbol | Company | Sector | Portfolio |
|---|---|---|---|
| BE | BLOOM ENERGY CORP | Energy and Utilities | 2.54 |
| PSN | PARSONS CORP | Computer Software and Services | 2.46 |
| MPUS | MP MATERIALS CORP | Metals and Mining | 2.46 |
| NOG | NORTHERN OIL & GAS INC | Energy and Utilities | 2.41 |
| CSGS | CSG SYSTEMS INTERNATIONAL INC | Computer Software and Services | 2.23 |
| HPE | HEWLETT PACKARD ENTERPRISE CO | Computer Software and Services | 2.21 |
| PPL | PPL CAPITAL FUNDING INC | Energy and Utilities | 2.14 |
| DLR | DIGITAL REALTY TRUST LP | Real Estate Investment Trusts | 2.08 |
| LITE | LUMENTUM HOLDINGS INC | Communications Equipment | 2.02 |
| UBER | UBER TECHNOLOGIES INC | Consumer Services | 2.02 |
Gross Expense Ratio
1.30% / 1.10%
Net Expense Ratio
Maximum Sales Charge
0.00%
The Fund’s fiscal year ends on September 30.
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. Consequently, you can lose money by investing in the Fund. Current performance may be lower or higher than the performance data presented.
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 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.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. The gross expense ratios presented reflect the expense ratio based on common assets / total assets including liquidation preference of preferred stock. Information regarding the Fund’s distribution policy and the most recent quarterly report, which contains a more extensive list of holdings, is available by calling 800-GABELLI (800-422-3554).
Forms 3,4, and 5 can be found here.
