Summary

• Bancroft Fund operates as a diversified, closed-end management investment company and invests primarily in convertible securities, with the objectives of providing income and the potential for capital appreciation.
• Bancroft Fund finished a volatile quarter with an increase in NAV of 1.9%.
• Over the trailing twelve months, the Fund's NAV was up 34.5%, significantly outperforming the ICE BofA All Convertibles Index, which was up 25.0%.

Investment Objective

Bancroft Fund Ltd. (BCV) operates as a diversified, closed-end management investment company and invests primarily in convertible securities, with the objectives of providing income and the potential for capital appreciation; these objectives the Fund considers