Ellsworth Growth and Income Fund (NYSE: ECF) is a non-diversified, closed-end management investment company that seeks to provide both long-term capital appreciation and current income. Established in the early 1990s, the fund trades on the New York Stock Exchange and leverages the benefits of a closed-end structure, including the potential for margin leverage and discounted market prices, to enhance shareholder returns.
The fund’s primary investment strategy focuses on a blend of equity and fixed-income securities of small- and mid-capitalization companies. It allocates assets across common stocks, preferred stocks, convertible securities and senior loans to build a diversified portfolio that can participate in the growth potential of emerging businesses while generating steady income through interest and dividend distributions.
Although the bulk of the portfolio is invested in U.S. companies, Ellsworth Growth and Income Fund has the flexibility to pursue international opportunities and to use derivative instruments for hedging or yield enhancement. The fund is managed by Ellsworth Growth & Income Advisors LLC, which draws on the expertise of a team of portfolio managers with extensive experience in fundamental credit analysis and equity research.
Governance of the fund is overseen by an independent board of directors, chaired by Anthony B. Mader, ensuring alignment with shareholder interests. Day-to-day portfolio decisions are made by co-portfolio managers Adam D. Hill and Andrew E. Paterson, supported by a New York-based research staff. Over more than three decades, ECF has aimed to balance the dual objectives of capital growth and income generation for its investors.
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