SOURCE: Bancroft Fund Ltd.

August 18, 2015 17:00 ET

Bancroft Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ--(Marketwired - Aug 18, 2015) - Bancroft Fund Ltd. (NYSE MKT: BCV) today reported earnings, financial highlights and certain portfolio information for the nine months ended July 31, 2015:

         
EARNINGS REPORT        
    Nine Months Ended
    July 31
    2015   2014
         
Net Income   $668,000   $789,000
Per Share   $0.13   $0.15
Shares Outstanding   5,118,574   5,242,291
Total Net Assets   $124,887,000   $123,093,000
Net Asset Value Per Share   $24.40   $23.48
         
         
FUND STATISTICS        
         
Market price   $21.28    
Net asset value (NAV)   $24.40    
Premium/(Discount)   (12.79)%    
Total Net Assets   $124,887,000    
12-month income distribution, includes return-of-capital   $0.766    
Yield on market price   3.6%    
Ratio of expenses (annualized)   1.1%    
Ratio of net income (annualized)   0.8%    
Portfolio turnover   32%    
Shares outstanding   5,118,574    
         
         
TEN LARGEST HOLDINGS        
by underlying common stock        
    % of    
    Net Assets    
Gilead Sciences, Inc.   3.3    
Equinix, Inc.   2.1    
Wells Fargo & Co.   1.9    
Allergan plc   1.8    
Jarden Corp.   1.8    
Incyte Corp.   1.7    
Micron Technology, Inc.   1.7    
Mylan Inc.   1.7    
The Priceline Group Inc.   1.7    
T-Mobile US, Inc.   1.7    
         
         
SECTOR WEIGHTINGS        
    % of    
    Net Assets    
Consumer Discretionary   7.9    
Consumer Staples   3.7    
Energy   3.1    
Financials   17.6    
Health Care   21.6    
Industrials   4.7    
Information Technology   32.1    
Materials   0.9    
Telecommunication Services   4.1    
Utilities   2.2    
         
         
ASSET ALLOCATION        
    % of    
    Net Assets    
Convertible Bonds & Notes   68.6    
Convertible Preferred Stock   12.6    
Mandatory Convertible Securities   16.6    
Cash & Equivalents   2.2    
         

Data is unaudited and as of July 31, 2015. This select information should be read in conjunction with the financial statements and notes included in the Company's Semi-Annual Report to Shareholders for the six months ended April 30, 2015.

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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