Bancroft Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ--(Marketwired - May 29, 2015) -  Bancroft Fund Ltd. (NYSE MKT: BCV) today reported earnings, financial highlights and certain portfolio information for the six months ended April 30, 2015:                     

EARNINGS REPORT		Three Months Ended
		April 30
		2015	2014
Net Income		$398,150	$545,000
	Per Share	$0.08	$0.10
Shares Outstanding		5,131,256	5,242,291
Total Net Assets		$124,620,000	$121,895,000
Net Asset Value Per Share		$24.29	$23.25
FUND STATISTICS
Market price		$21.26
Net asset value (NAV)		$24.29
Premium/(Discount)		(12.47)%
Total Net Assets		$124,620,000
12-Month income distribution		$0.58
Yield on market price		2.7%
Ratio of expenses (annualized)		1.1%
Ratio of net income (annualized)		0.7%
Portfolio turnover		19%
Shares outstanding		5,131,256
TEN LARGEST HOLDINGS
	by underlying common stock
		% of Net Assets
Gilead Sciences, Inc.		2.8
Mylan Inc.		2.2
Micron Technology, Inc.		2.0
Wells Fargo & Co.		2.0
Equinix, Inc.		1.9
Hawaiian Holdings, Inc.		1.8
NextEra Energy, Inc.		1.8
Crown Castle International Corp.		1.7
Jarden Corp.		1.7
The Priceline Group Inc.		1.7
SECTOR WEIGHTINGS
		% of Net Assets
Consumer Discretionary		8.6
Consumer Staples		3.2
Energy		3.5
Financials		19.1
Health Care		20.9
Industrials		5.4
Information Technology		30.9
Materials		1.3
Telecommunication Services		2.8
Utilities		3.0
ASSET ALLOCATION
		% of Net Assets
Convertible Bonds & Notes		69.9
Convertible Preferred Stock		13.0
Mandatory Convertible Securities		14.8
Common Stock		1.0
Cash & Equivalents		1.3

Data is unaudited and as of April 30, 2015. This select 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, 2014.  

Detailed portfolio information is available on our website (www.bancroftfund.com).    
Contact us by email at [e-mail] or call us at [phone].    

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                         

For further information please contact:
Gary I. Levine
Chief Financial Officer
Ph. [phone]
Fax [phone]
[e-mail]
www.bancroftfund.com