Bull & Bear U.S. Government Securities Fund Inc. Announces Investment in Equities.NEW YORK--(BUSINESS WIRE)--Aug. 17, 1998--Bull & Bear U.S. Government Securities Fund Inc. (AMEX AMEX See: American Stock Exchange :BBG BBG Brooklyn Botanic Garden BBG Broadcasting Board of Governors BBG Bloomberg (financial company) BBG Bundesbeamtengesetz (German Law) BBG Bergbau-Berufsgenossenschaft (Germany) ) (the "Fund") announced today that it intends to invest up to 35% of its total assets in equity and other securities, commencing Oct. 19, 1998. The Fund is a diversified, closed-end management investment company which currently seeks to achieve its investment objective of providing a high level of current income, liquidity, and safety of principal by investing primarily in securities backed by the full faith and credit of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ("U.S. Government Securities"). It currently is a fundamental policy of the Fund to invest at least 65% of the value of its total assets in U.S. Government Securities, including direct obligations of the United States (such as U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. bills, notes and bonds) and certain agency securities, such as those issued by the Government National Mortgage Association ("GNMA GNMA abbr. Government National Mortgage Association "). The Fund may invest up to 35% of the value of its total assets in other securities,includingcommon stocks and other equity securities. Currently, the Fund invests such assets in securities issued by agencies and instrumentalities of the U.S. Government that may have different levels of government backing but which are not backed by the full faith and credit of the U.S. Government. In addition, the Fund may engage in various investment techniques, such as leveraging, lending portfolio securities, writing covered call options covered call option A call option sold short by an investor owning the underlying stock. If the option is later exercised against the short seller of the option, the seller is covered by the stock that is owned. Compare naked option. , and purchasing securities on a when-issued basis.
CONTACT: Bull & Bear U.S. Government Securities Fund Inc.
Kerri Hlavacek, 212/363-1100, ext. 251
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion