Steady Income, Strong Growth: Investing in Convertible Securities for the Long-Term
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Ellsworth Growth and Income Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities and common stock.
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.
Income Potential: The Fund seeks to generate cash flow by investing in dividend-paying stocks that are undervalued with superior yield and capital gains potential.
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 | 6,246,269.62 |
| TMUS | T-MOBILE US INC | Communication Services | 3,899,033.49 |
| NOG | NORTHERN OIL & GAS INC | Energy | 3,807,180.00 |
| HCI | HCI GROUP INC | Financials | 3,723,000.00 |
| PSN | PARSONS CORP | Industrials | 3,505,250.00 |
| PRGS | PROGRESS SOFTWARE CORP | Information Technology | 3,376,000.00 |
| PPL | PPL CAPITAL FUNDING INC | Utilities | 3,364,500.00 |
| BABA | ALIBABA GROUP HOLDING LTD | Consumer Discretionary | 3,287,275.00 |
| EQIX | EQUINIX INC | Real Estate | 3,261,400.00 |
| AVGO | BROADCOM INC | Information Technology | 3,194,564.40 |
Gross Expense Ratio
1.50%
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. 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. Total returns and average annual returns were not adjusted for the 2004 rights offering. For the period from December 2008 through October 2015, distributions were reinvested on the payable date using market prices. From inception through November 2008, distributions were reinvested on the payable date using NAV. Since inception return is based on an initial NAV of $9.30.
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 not adjusted for the 2004 rights offering. Since inception return is based on an initial offering price of $10.00.
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.
