Our income strategy seeks to provide stable interest payments to our clients while taking advantage of market fluctuations to produce principal appreciation. Income securities consist of bonds, preferred shares, convertible securities, closed-end investment companies which invest in these securities, and, to a minor extent, common shares with superior dividends. Certain of the debt securities and preferred stocks in which Ancora invests may be convertible into common shares. Although not limited to specific credit restrictions, Ancora will develop income portfolios which carry an average “investment grade” rating. Fixed income investments consist of high quality intermediate term securities. Our investment approach is to achieve high absolute returns to investors while limiting exposure to risk and possible loss of capital. In addition to our value orientation the key to achieving superior long-term results is the collective experience of our professional portfolio managers who implement our methodologies for both personal and institutional portfolios.

The Fixed Income – Taxable Composite seeks to provide a real return over a long period of time to commensurate with the risk profile of the portfolio. The Fixed Income – Taxable Composite pursues these objectives by investing primarily in income-producing securities, while seeking to minimize tax consequences for the portfolios. The composite utilizes the Barclay Intermediate Aggregate Bond Index, a widely recognized unmanaged index of bond prices which is representative of a broader market and range of securities than is found in the Composite’s portfolio.

The Fixed Income – Tax Exempt Composite seeks to provide a real return over a long period of time to commensurate with the risk profile of the portfolio for tax-exempt portfolios. The Fixed Income – Tax Exempt Composite pursues these objectives by investing primarily in income-producing municipal securities. The composite utilizes the Merrill Lynch Municipal 3-7 Year Index, a widely recognized unmanaged index of bond prices which is representative of a broader market and range of securities than is found in the Composite’s portfolio.