SOURCE: Bancroft Fund Ltd.

May 21, 2014 11:25 ET

Bancroft Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ--(Marketwired - May 21, 2014) - Bancroft Fund Ltd. (NYSE MKT: BCV) today reported earnings, financial highlights and certain portfolio information for the six months ended April 30, 2014:

     
EARNINGS REPORT   Six Months Ended
    April 30
         
    2014   2013
         
Net Income   $545,000   $831,000
  Per Share   $0.10   $0.15
Shares Outstanding   5,242,291   5,374,755
Total Net Assets   $121,895,000   $110,688,000
Net Asset Value Per Share   $23.25   $20.59
         
         
FUND STATISTICS      
       
Market price   $19.67  
Net asset value (NAV)   $23.25  
Premium/(Discount)   (15.40)%  
Total Net Assets   $121,895,000  
12-Month income distribution   $0.56  
Yield on market price   2.8%  
Ratio of expenses (annualized)   1.1%  
Ratio of net income (annualized)   0.9%  
Portfolio turnover   23%  
Shares outstanding   5,242,291  
       
       
TOP TEN HOLDINGS      
  by underlying common stock      
    % of Net Assets  
Gilead Sciences, Inc.   2.8  
Iconix Brand Group, Inc.   2.4  
United Technologies Corp.   2.2  
Wells Fargo & Co.   2.0  
NextEra Energy, Inc.   1.9  
Bank of America Corp.   1.7  
Jarden Corp.   1.7  
Micron Technology, Inc.   1.7  
Nuance Communications, Inc.   1.7  
The Priceline Group Inc.   1.7  
       
       
SECTOR WEIGHTINGS      
    % of Net Assets  
Consumer Discretionary   9.5  
Consumer Staples   2.5  
Energy   6.2  
Financials   21.9  
Health Care   14.5  
Industrials   8.2  
Information Technology   25.9  
Materials   2.8  
Telecommunication Services   2.1  
Utilities   3.1  
       
       
ASSET ALLOCATION      
    % of Net Assets  
Convertible Bonds & Notes   73.3  
Convertible Preferred Stock   12.3  
Mandatory Convertible Securities     10.6  
Common Stock   0.5  
Cash & Equivalents   3.3  
       
       

Data is unaudited and as of April 30, 2014. This selected information should be read in
conjunction with the financial statements and notes included in the Company's Annual
Report to Shareholders for the twelve months ended October 31, 2013.

Detailed portfolio information is available on our website (www.bancroftfund.com).
Contact us by email at info@bancroftfund.com or call us at (973) 631-1177.

Bancroft Fund Ltd. operates as a closed-end, diversified management investment company
and invests primarily in convertible securities, with the objectives of providing income and
the potential for capital appreciation; which objectives the Fund considers to be relatively
equal, over the long-term, due to the nature of the securities in which it invests.
Its shares are traded on the NYSE MKT LLC exchange under the ticker symbol BCV.

Cusip 059695106     

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