Foxby Corp. (ticker: FXBY) is a non-diversified, closed end management investment company. The Fund’s non-fundamental investment objective is total return which it may seek from growth of capital and from income by investment in securities of any type, unlimited by the issuer’s location, size, or market capitalization. The Fund may invest in equity and fixed income securities of new and seasoned U.S. and foreign issuers, including securities convertible into common stock, debt securities, futures, options, derivatives, and other instruments. The Fund also may employ aggressive and speculative investment techniques, such as selling securities short and borrowing money for investment purposes, a practice known as “leveraging” and may invest defensively in short term, liquid, high grade securities and money market instruments. There is no assurance the Fund will achieve its investment objective.
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 investment management.
Directors and Officers
|Roger Atkinson*||Thomas B. Winmill, Esq., Chairman, President, Chief Executive Officer, Chief Legal Officer|
|Jon Tomasson*||Thomas O'Malley, CPA, Treasurer, Chief Financial Officer, Chief Accounting Officer|
|Peter K. Werner*||Mark C. Winmill, Vice President|
|Thomas B. Winmill, Esq.**||Heidi Keating, Vice President|
|Russell Kamerman, Esq., Secretary, General Counsel, Chief Compliance Officer|
|Donald Klimoski, Esq., Assistant Secretary, Assistant General Counsel, and Assistant Chief Compliance Officer|
** Member, Continuing Directors and Executive Committees
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The Fund pays its shareholders dividends from any net investment income and distributes net capital gains, if any. Income dividends and capital gain distributions, if any, are normally paid annually.