First Opportunity Fund™
First Opportunity Fund, Inc.™ (the “Fund”) was incorporated in Maryland on March 3, 1986, as a closed-end management investment company. The Fund is non-diversified and its primary investment objective is total return.
As of May 12, 2010, First Opportunity Fund, Inc. will trade in the over-the-counter market under the ticker symbol “FOFI”. For more information on the symbol change and the restructuring proposals approved by stockholders, please review the May 4, May 6 and May 11 press releases and the Fund’s proxy statement and supplements.
Note to Stockholders on Investments in Hedge Funds:
The Fund’s investment advisers feel it is important that stockholders be aware that the Fund has highly concentrated positions in certain hedge funds and may take concentrated positions in other securities. Concentrating investments in a fewer number of securities (including investments in hedge funds) may involve a degree of risk that is greater than a fund which has less concentrated investments spread out over a greater number of securities. For example, the value of the Fund’s net assets will fluctuate significantly based on the fluctuation in the value of the hedge funds in which it invests. In addition, investments in hedge funds can be highly volatile and may subject investors to heightened risk and higher operating expenses than another closed-end fund with a different investment focus. Stockholders are urged to read the Fund’s proxy statement dated April 27, 2012, which discusses at length the risks associated with investing in hedge funds.