The Boulder Growth & Income Fund, Inc. (NYSE: BIF) is pleased to report that the Fund has received 2008 Performance Achievement Certificates from Lipper Analytical Services for the 1-Year and 5-Year periods ended 12/31/2008 in Lipper’s Core Funds category.
Boulder Growth & Income Fund:
Commenting on the awards, Stewart Horejsi, the portfolio manager, stated, “We’re pleased with the award, but not terribly satisfied with the losses in 2008. We lost less than most, but a loss is a loss. The Fund had a successful rights offering in June of ’08, before the market started its steep decline. We held off on investing the proceeds from that rights offering and, in hindsight, we’re glad we did.”
Boulder Growth & Income Fund is co-advised by Boulder Investment Advisers, LLC (BIA) and Stewart Investment Advisers (SIA). The Fund operates as a non-diversified investment company, as defined in the 1940 Act. The Fund’s investment objective is total return. The Fund seeks to produce both income and long-term capital appreciation by investing in a portfolio of equity and debt securities. The Fund has an industry concentration policy requiring it to invest at least 25% of its assets in “real estate related companies.”
BIA and SIA serve as investment co-advisers to two other closed-end funds: the Boulder Total Return Fund, Inc. (NYSE: BTF) and The Denali Fund Inc. (NYSE DNY). DNY received similar Lipper awards for the 1-year and 5-year periods ended December 31, 2008 in Lipper’s Real Estate Fund category.
For more information on the Fund, please visit www.boulderfunds.net.
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