Manager(s): 

Ancora Special Opportunity Fund

 


Objective & Share Information

The Special Opportunity Fund’s primary objective is to obtain a high total return.

Symbol Share Class Expense Ratio Minimum* Maximum Sales Charge
ANSIX Institutional 1.86% $5,000 -
ANSCX Retail 2.61% $5,000 -

*See the prospectus for minimum purchase eligibility requirements.  


Philosophy & Process

Under normal circumstances, at least 80% of the assets in the Ancora Special Opportunity Fund will be invested in publicly traded equity securities of such companies (such as common stock, preferred stock and securities convertible into common or preferred stock). Examples of companies in which the Fund may invest include (i) companies which have lost significant market value, if the Advisor believes the fortunes of these companies may be more favorable in the future, (ii) companies which are undergoing financial restructuring or which may be repositioning themselves in the marketplace for their products or services, and (iii) companies having products or services which are new and untested or which may gain wider acceptance in the future. Securities in the Fund will tend to be of companies with “micro” and small capitalizations (that is, with market capitalizations of less than $2 billion), but this will not be a requirement.

Performance as of 9/30/14

  Q3 YTD 1 Yr. 3 Yrs. 5 Yrs. Since Incep. (1/5/04)
Ancora Special Opportunity Fund (ANSIX) -1.44% 6.37% 12.75% 20.37% 11.02% 6.78%
Ancora Special Opportunity Fund (ANSCX) -1.53% 5.82% 11.99% 19.59% 10.36% 6.21%
Wilshire 5000 Index -0.50% 5.35% 16.01% 22.17% 15.29% 7.74%

Performance quoted represents past performance and is not a guarantee or a reliable indicator of future results. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Current performance may be lower or higher than average annual returns shown. A Redemption Fee of 2% may be assessed on shares held less than 90 days. The performance data presented does not reflect the deduction of this fee and if reflected would reduce the performance returns.


Top Ten Holdings as of 9/30/14

  Description Symbol % Weight  
1 Mace Security International, Inc. MACE 9.27%  
2 Firsthand Technology Value Fund, Inc. SVVC 5.18%  
3 Special Opportunities Fund, Inc. SPE 4.74%  
4 Gabelli Global Deal Fund GDL 4.55%  
5 Citigroup, Inc. C 4.47%  
6 MFS Intermediate Income Trust MIN 4.32%  
7 Lakeland Industries, Inc. LAKE 4.20%  
8 Leucadia National Corp. LUK 4.11%  
9 Boulder Growth & Income Fund, Inc. BIF 3.81%  
10 BlackRock Enhanced Equity Dividend Trust BDJ 3.54%  
  Cash   5.88%  

Purchase Availability 

  • Direct Application (click here)
  • Pershing LLC
  • Charles Schwab 
  • TD Ameritrade
  • Fidelity
  • National Financial Services

Additional Purchase Information: Dan Hyland, Managing Director, Marketing & Client Services, dan@ancora.net, 216-825-4000

GENERAL RISK DISCLOSURES

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund’s prospectus and summary prospectus, if available, which may be obtained by contacting your Ancora representative, financial advisor or by clicking here.

ANCORA SPECIAL OPPORTUNITY FUND RISK DISCLOSURES

Speculative Nature. The Fund intends to invest in securities that are more speculative than other securities and, therefore, subject to a substantial decline or total loss in value. Because of the speculative nature of these securities, shareholders of the Fund are exposed to a high degree of risk.

Small and Micro Cap Companies. The principal risks of investing in the Fund include the risks of investing in equity securities. The prices of equity securities fluctuate based on changes in a company’s activities and financial condition and in overall market and financial conditions. The small and micro cap companies in which the Fund invests are especially sensitive to these factors and therefore may be subject to greater share price fluctuations than other companies. Also, securities of these companies are often less liquid, thus possibly limiting the ability of the Fund to dispose of such securities when the Advisor deems it advisable to do so. As a result of these factors, securities of these small and micro cap companies may expose shareholders of the Fund to above average risk.

Closed-End Funds. The shares of many closed-end funds frequently trade at a price per share which is less than the net asset value per share, the difference representing the “market discount” of such shares. The Fund purchases shares of closed-end funds which trade at a market discount. However, there can be no assurance that the market discount on shares of any closed-end fund will ever decrease. In fact, it is possible that this market discount may increase and the Fund may suffer capital losses due to further decline in the market price of the securities of such closed-end funds, thereby adversely affecting the net asset value of the Fund’s shares.

The closed-end funds in which the Fund invests typically pay an advisory fee for the management of their portfolios, as well as other expenses. Therefore, the investment by the Fund in closed-end funds often results in a duplication of advisory fees and other expenses, thereby resulting in a lower return for the Fund than would be the case in the absence of such duplication.