AAIIX : Ancora Income Fund Class I

Fund Summary

The investment seeks a high level of income with a secondary objective of capital appreciation. The fund pursues its income objective by investing primarily in income-producing securities (such as debt securities, preferred stocks, high dividend-bearing common shares, common and preferred shares of closed-end investment companies). It will invest in shares of closed-end funds and convertible securities of large, small and mid-sized companies. The fund will invest only in securities of companies with market capitalizations of more than $500 million, except that the fund may invest in closed-end funds with market capitalizations of less than that amount.