Our two closed-end funds, ABC North American Deep-Value and ABC Dirt-Cheap Stock Fund were launched in 2005 and 2006 respectively. The primary objective of these two funds was to search out deep-value small and micro capitalization, North American and overseas companies for insertion in their portfolios. Given that many of these small companies were inappropriate for our three open-end funds due to thin trading/illiquidity, small size and/or bearing a perception of great risk, the closed-end format of these two new funds offered an excellent vehicle for higher risk/higher reward securities.

We have also extended our abcfunds.com site to include a new feature, “The Dirt-Cheap Stock Detective®”, a registered trademark of I.A. Michael Investment Counsel Ltd. This offering will periodically provide interesting analytical information on small/micro cap value securities held within our two closed-end funds. Ultimately, it is our hope that “The Dirt-Cheap Stock Detective®” will inform, highlight and educate our present and prospective clients about our deep value small/micro cap selections as well as the investment modus operandi of our two closed-end funds: ABC North American Deep-Value and ABC Dirt-Cheap Stock Fund.