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.
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