Incorporated in Maryland on August 24, 1998, the Fund commenced operations on October 29, 1999 as a non-diversified, closed end management investment company registered under the Investment Company Act of 1940. Initially named LCM Internet Growth Fund, Inc. (Amex Symbol: FND; CUSIP f 46062H 100) and managed by LCM Capital Management, Inc., the Fund's investment policy under normal market conditions was to invest at least 65% of its total assets in the equity securities of companies that engage in Internet and Internet-related activities. In July 2002, the Fund retained CEF Advisers, Inc. as its Investment Manager and modified its name to Internet Growth Fund, Inc.
Effective July 14, 2003, the Fund changed its name to Foxby Corp., its symbol on the American Stock Exchange to FXX, and its CUSIP to 351645106. On October 28, 2003, Fund shareholders approved the adoption of a new non-fundamental investment objective of "total return." On that date, the Fund commenced seeking to achieve this total return objective from growth of capital and from income in any security type and in any industry sector.
On October 24, 2008, Foxby Corp. announced the withdrawal of the Fund's listing of its common stock from the American Stock Exchange ("AMEX"). The common stock will be quoted on the OTC Bulletin Board ("OTCBB") under symbol FXBY and on the Pink OTC Markets Inc. ("Pink Sheets") under symbol FXBY.PK.
On October 9, 2012, Foxby Corp. shareholders approved Midas Management Corporation as its new Investment Manager.
The Investment Manager, Midas Management Corporation, is a subsidiary of Winmill & Co. Incorporated, which is engaged through subsidiaries in stock market and gold investing through its investment management of equity and gold mutual funds.
There is no assurance that the Fund's investment objective will be attained. Past performance is no guarantee of future results. You should carefully consider the investment objective, risks, charges and expenses of the Fund before investing. The Fund's investment policies, management fees and other matters of interest to prospective investors may be found in its annual and semi-annual reports. To obtain a copy of the reports, please call us at 212-785-0900 or download them at www.foxbycorp.com/shareholder-reports.html.
Shares of closed end funds frequently trade at a discount from their NAV. This characteristic is a risk separate and distinct from the risk that the Fund's NAV could decrease as a result of its investment activities. Neither the Fund nor its investment manager can predict whether shares of the Fund will trade at, below or above NAV.
This website is provided for informational purposes only. This is not a prospectus, circular, or representation intended for use in the purchase of shares of the Fund or any securities mentioned in this communication. This information presented on this website shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, or an exemption therefrom. The contents herein are qualified in their entirety by documents filed with the Securities and Exchange Commission.
Investment products, including shares of closed end funds and mutual funds, are not federally or FDIC insured, are not deposits or obligations of, or guaranteed by, any financial institution and involve investment risk, including possible loss of principal and fluctuation in value. Consult with your tax advisor or attorney regarding specific tax issues.