Gabelli named adviser of Bancroft Fund, Ellsworth Growth and Income

By Susanna Moon

Chicago, Oct. 21 – Gabelli Funds, LLC was named investment adviser of Bancroft Fund Ltd. and Ellsworth Growth and Income Fund Ltd., according to a press release by Gamco Investors, Inc.

The firm’s convertible investment team was expanded to include portfolio managers at Dinsmore Capital Management, the release noted.

Dinsmore will continue to act as portfolio manager of the Bancroft Fund and Ellsworth Growth and Income Fund.

“We are delighted with the addition of the Dinsmore portfolio managers to the Gabelli portfolio management team. Their expertise in convertible securities enhances our team and we look forward to accelerated growth in the convertible portfolio arena,” Mario J. Gabelli, chief executive officer of Gamco, said in the press release.

Dinsmore, formerly Davis-Dinsmore Management, a registered investment adviser with the Securities and Exchange Commission, is a convertible securities money management firm with $230 million assets under management for the two funds as of Sept. 30.

Gabelli Funds is part of Gamco, an investment manager based in Rye, N.Y.

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