Bancroft Fund Ltd. is a closed-ended equity mutual fund managed by Gabelli Funds, LLC, investing primarily in convertible securities and public equity markets. It benchmarks its performance against S&P 500 Index, Bank of America Merrill Lynch All U.S. Convertibles Index, and Barclays Balanced U.S. Convertibles Index. Formed on April 20, 1971, the fund was previously known as Bancroft Convertible Fund, Inc.