Bancroft Fund Limited (BCV) - Net Assets
Based on the latest financial reports, Bancroft Fund Limited (BCV) has net assets worth $173.62 Million USD as of July 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($173.84 Million) and total liabilities ($226.12K). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Bancroft Fund Limited liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $173.62 Million |
| % of Total Assets | 99.87% |
| Annual Growth Rate | 3.29% |
| 5-Year Change | -5.4% |
| 10-Year Change | 46.59% |
| Growth Volatility | 17.04 |
Bancroft Fund Limited - Net Assets Trend (1983–2025)
This chart illustrates how Bancroft Fund Limited's net assets have evolved over time, based on quarterly financial data. Also explore Bancroft Fund Limited assets under control for the complete picture of this company's asset base.
Annual Net Assets for Bancroft Fund Limited (1983–2025)
The table below shows the annual net assets of Bancroft Fund Limited from 1983 to 2025. For live valuation and market cap data, see Bancroft Fund Limited market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-10-31 | $173.62 Million | +22.84% |
| 2024-10-31 | $141.34 Million | -4.27% |
| 2022-10-31 | $147.64 Million | -30.54% |
| 2021-10-31 | $212.54 Million | +15.81% |
| 2020-10-31 | $183.53 Million | +10.31% |
| 2019-10-31 | $166.38 Million | +8.09% |
| 2018-10-31 | $153.93 Million | -2.12% |
| 2017-10-31 | $157.25 Million | +9.17% |
| 2016-10-31 | $144.04 Million | +21.62% |
| 2015-10-31 | $118.44 Million | -4.23% |
| 2014-10-31 | $123.67 Million | +4.08% |
| 2013-10-31 | $118.82 Million | +16.13% |
| 2012-10-31 | $102.32 Million | +4.18% |
| 2011-10-31 | $98.21 Million | -1.32% |
| 2010-10-31 | $99.52 Million | +14.79% |
| 2009-10-31 | $86.70 Million | +24.93% |
| 2008-10-31 | $69.40 Million | -50.29% |
| 2007-10-31 | $139.60 Million | +10.09% |
| 2006-10-31 | $126.80 Million | +7.82% |
| 2005-10-31 | $117.60 Million | +3.80% |
| 2004-10-31 | $113.30 Million | +15.03% |
| 2003-10-31 | $98.50 Million | +13.35% |
| 2002-10-31 | $86.90 Million | -9.38% |
| 2001-10-31 | $95.90 Million | -13.84% |
| 2000-10-31 | $111.30 Million | +7.23% |
| 1999-10-31 | $103.80 Million | +11.13% |
| 1998-10-31 | $93.40 Million | -2.91% |
| 1997-10-31 | $96.20 Million | +15.35% |
| 1996-10-31 | $83.40 Million | +16.81% |
| 1995-10-31 | $71.40 Million | +5.31% |
| 1993-10-31 | $67.80 Million | +14.14% |
| 1992-10-31 | $59.40 Million | +8.20% |
| 1991-10-31 | $54.90 Million | +0.37% |
| 1989-10-31 | $54.70 Million | +43.95% |
| 1987-10-31 | $38.00 Million | -39.49% |
| 1986-10-31 | $62.80 Million | +3.97% |
| 1985-10-31 | $60.40 Million | +22.76% |
| 1984-10-31 | $49.20 Million | +10.56% |
| 1983-10-31 | $44.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Bancroft Fund Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1252.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (October 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $25.70 Million | 14.80% |
| Common Stock | $120.12 Million | 69.18% |
| Other Components | $27.80 Million | 16.01% |
| Total Equity | $173.62 Million | 100.00% |
Bancroft Fund Limited Competitors by Market Cap
The table below lists competitors of Bancroft Fund Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Gevelot
PA:ALGEV
|
$129.92 Million |
|
Bhiraj Office Leasehold Real Estate Investment Trust
BK:BOFFICE
|
$129.94 Million |
|
Corpovael S.A.B. de C.V
MX:CADUA
|
$130.02 Million |
|
John Hancock Income Securities Closed Fund
NYSE:JHS
|
$130.09 Million |
|
Teo Seng Capital Bhd
KLSE:7252
|
$129.88 Million |
|
Mnc Kapital Indonesia Tbk
JK:BCAP
|
$129.86 Million |
|
Excel Industries Limited
NSE:EXCELINDUS
|
$129.85 Million |
|
China Aluminum International Engineering Corporation Limited
F:4AI
|
$129.83 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bancroft Fund Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 141,336,006 to 173,618,301, a change of 32,282,295 (22.8%).
- Net income of 42,905,755 contributed positively to equity growth.
- Other factors decreased equity by 10,623,460.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $42.91 Million | +24.71% |
| Other Changes | $-10.62 Million | -6.12% |
| Total Change | $- | 22.84% |
Book Value vs Market Value Analysis
This analysis compares Bancroft Fund Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.82x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 0.99x to 0.82x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1983-10-31 | $24.86 | $24.49 | x |
| 1984-10-31 | $26.74 | $24.49 | x |
| 1985-10-31 | $31.30 | $24.49 | x |
| 1986-10-31 | $27.79 | $24.49 | x |
| 1987-10-31 | $23.60 | $24.49 | x |
| 1989-10-31 | $21.37 | $24.49 | x |
| 1990-10-31 | $17.89 | $24.49 | x |
| 1991-10-31 | $21.03 | $24.49 | x |
| 1992-10-31 | $22.76 | $24.49 | x |
| 1993-10-31 | $25.02 | $24.49 | x |
| 1994-10-31 | $23.15 | $24.49 | x |
| 1995-10-31 | $24.79 | $24.49 | x |
| 1996-10-31 | $28.24 | $24.49 | x |
| 1997-10-31 | $30.44 | $24.49 | x |
| 1998-10-31 | $26.84 | $24.49 | x |
| 1999-10-31 | $27.39 | $24.49 | x |
| 2000-10-31 | $27.08 | $24.49 | x |
| 2001-10-31 | $20.71 | $24.49 | x |
| 2002-10-31 | $18.57 | $24.49 | x |
| 2003-10-31 | $20.82 | $24.49 | x |
| 2004-10-31 | $20.40 | $24.49 | x |
| 2005-10-31 | $21.04 | $24.49 | x |
| 2006-10-31 | $22.52 | $24.49 | x |
| 2007-10-31 | $24.36 | $24.49 | x |
| 2008-10-31 | $13.37 | $24.49 | x |
| 2009-10-31 | $16.55 | $24.49 | x |
| 2010-10-31 | $18.85 | $24.49 | x |
| 2011-10-31 | $18.48 | $24.49 | x |
| 2012-10-31 | $19.15 | $24.49 | x |
| 2013-10-31 | $22.20 | $24.49 | x |
| 2014-10-31 | $23.29 | $24.49 | x |
| 2015-10-31 | $21.36 | $24.49 | x |
| 2016-10-31 | $29.63 | $24.49 | x |
| 2017-10-31 | $32.65 | $24.49 | x |
| 2018-10-31 | $36.85 | $24.49 | x |
| 2019-10-31 | $33.75 | $24.49 | x |
| 2020-10-31 | $36.72 | $24.49 | x |
| 2021-10-31 | $41.02 | $24.49 | x |
| 2022-10-31 | $25.29 | $24.49 | x |
| 2024-10-31 | $24.25 | $24.49 | x |
| 2025-10-31 | $29.83 | $24.49 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bancroft Fund Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 24.71%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 428.10%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.00x
- Recent ROE (24.71%) is above the historical average (7.32%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1983 | 3.89% | 54.23% | 0.07x | 1.01x | $-2.72 Million |
| 1984 | 14.74% | 200.83% | 0.07x | 1.02x | $2.33 Million |
| 1985 | 23.29% | 377.21% | 0.06x | 1.01x | $8.03 Million |
| 1986 | 11.29% | 179.49% | 0.06x | 1.01x | $810.00K |
| 1987 | -5.92% | -60.98% | 0.10x | 1.00x | $-6.05 Million |
| 1989 | 9.63% | 119.50% | 0.08x | 1.01x | $-200.00K |
| 1990 | -9.79% | -101.56% | 0.10x | 1.00x | $-9.24 Million |
| 1991 | 21.97% | 287.83% | 0.08x | 1.01x | $6.57 Million |
| 1992 | 13.47% | 190.48% | 0.07x | 1.04x | $2.06 Million |
| 1993 | 17.54% | 285.13% | 0.06x | 1.00x | $5.11 Million |
| 1994 | 0.22% | 3.38% | 0.06x | 1.00x | $-6.32 Million |
| 1995 | 14.24% | 249.88% | 0.06x | 1.00x | $3.03 Million |
| 1996 | 18.32% | 386.33% | 0.05x | 1.01x | $6.93 Million |
| 1997 | 18.57% | 448.74% | 0.04x | 1.00x | $8.24 Million |
| 1998 | 4.03% | 91.71% | 0.04x | 1.00x | $-5.58 Million |
| 1999 | 15.60% | 396.81% | 0.04x | 1.03x | $5.81 Million |
| 2000 | 13.88% | 280.91% | 0.05x | 1.03x | $4.32 Million |
| 2001 | -7.91% | -124.43% | 0.06x | 1.00x | $-17.18 Million |
| 2002 | -6.62% | -119.79% | 0.05x | 1.03x | $-14.44 Million |
| 2003 | 14.50% | 322.35% | 0.04x | 1.00x | $4.43 Million |
| 2004 | 3.56% | 78.14% | 0.05x | 1.01x | $-7.30 Million |
| 2005 | 6.43% | 151.50% | 0.04x | 1.00x | $-4.20 Million |
| 2006 | 10.22% | 220.78% | 0.05x | 1.01x | $280.00K |
| 2007 | 13.15% | 304.98% | 0.04x | 1.01x | $4.40 Million |
| 2008 | -62.88% | -806.65% | 0.08x | 1.01x | $-50.58 Million |
| 2009 | 23.43% | 433.97% | 0.05x | 1.03x | $11.64 Million |
| 2010 | 15.92% | 97.61% | 0.16x | 1.01x | $5.89 Million |
| 2011 | 1.23% | 75.97% | 0.02x | 1.00x | $-8.61 Million |
| 2012 | 6.47% | 94.66% | 0.07x | 1.03x | $-3.61 Million |
| 2013 | 16.04% | 97.79% | 0.16x | 1.00x | $7.18 Million |
| 2014 | 8.29% | 96.08% | 0.09x | 1.00x | $-2.12 Million |
| 2015 | 1.87% | 83.08% | 0.02x | 1.00x | $-9.63 Million |
| 2016 | 3.43% | 92.72% | 0.04x | 1.01x | $-9.46 Million |
| 2017 | 12.79% | 97.67% | 0.13x | 1.00x | $4.38 Million |
| 2018 | 4.74% | 93.95% | 0.05x | 1.00x | $-8.10 Million |
| 2019 | 14.28% | 97.64% | 0.14x | 1.01x | $7.10 Million |
| 2020 | 14.69% | 97.96% | 0.15x | 1.01x | $8.60 Million |
| 2021 | 19.87% | 98.66% | 0.20x | 1.00x | $20.98 Million |
| 2022 | -33.06% | 0.00% | -0.33x | 1.00x | $-63.57 Million |
| 2024 | 9.84% | 96.53% | 0.10x | 1.07x | $-232.19K |
| 2025 | 24.71% | 428.10% | 0.06x | 1.00x | $25.54 Million |
Industry Comparison
This section compares Bancroft Fund Limited's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,287,028,489
- Average return on equity (ROE) among peers: 22.87%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bancroft Fund Limited (BCV) | $173.62 Million | 3.89% | 0.00x | $129.90 Million |
| Acadian Asset Management Inc (AAMI) | $198.40 Million | 112.85% | 6.16x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.58 Billion | 11.79% | 0.00x | $3.60 Billion |
| Associated Capital Group Inc (AC) | $948.70 Million | 4.12% | 0.07x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $293.17 Million | -43.01% | 0.21x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $-40.08K | 0.00% | 0.00x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $83.45 Million | -7.38% | 0.39x | $368.87 Million |
| Affiliated Managers Group Inc (AMG) | $4.65 Billion | 11.01% | 0.90x | $8.19 Billion |
| Ameriprise Financial Inc (AMP) | $3.80 Billion | 82.80% | 40.77x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $904.43 Million | 6.61% | 0.00x | $44.19 Million |
| Artisan Partners Asset Management Inc (APAM) | $414.64 Million | 49.86% | 1.98x | $2.65 Billion |
About Bancroft Fund Limited
Bancroft Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc. It is managed by Gabelli Funds, LLC. The fund invests in the public equity markets. It primarily invests in convertible securities including convertible debt and convertible preferred stocks. The fund invests in stocks of companies across market capitalization. It benchmarks the performance of its portfolio … Read more