ANCORA TRUST
One Chagrin Highlands
2000 Auburn Drive, Suite 300
Cleveland, OH 44122
March 28, 2014
To:
Ancora Income Fund
Ancora Equity Fund
Ancora Special Opportunity Fund
Ancora Microcap Fund
Ancora/Thelen Small-Mid Cap Fund
(the Funds)
Re:
Fidelity Bond
Gentlemen:
The parties hereto are named as joint insured pursuant to a certain Investment Company Asset Protection Bond Number 82341088 issued by Chubb Group of Insurance Companies (the Bond), with a limit of liability of $1,000,000. Rule 17g-1(f) under the Investment Company Act of 1940 (the Act) provides that where a registered management investment company such as one of the Funds are named as insured under a joint insured bond, such investment company shall enter into an agreement with the other joint insureds providing for an equitable and proportionate share of any recovery under the Bond as a result of any loss sustained.
Accordingly, it is agreed that in the event recovery is received under the Bond (or any subsequent bond on which the parties are named as joint insured) as a result of a loss sustained by one or more of the Funds, each Fund shall receive an equitable and proportionate share of the recovery, but at least equal to the amount of the minimum coverage required by such Fund pursuant to Rule 17g-1(d) under the Act.
Please indicate your agreement to the foregoing terms by executing a copy of this letter in the space provided and returning such executed copy.
Very truly yours,
ANCORA INCOME FUND,
a portfolio of Ancora Trust
By:
/s/ Richard A. Barone
Richard A. Barone, Chairman
ANCORA EQUITY FUND,
a portfolio of Ancora Trust
By:
/s/ Richard A. Barone
Richard A. Barone, Chairman
ANCORA SPECIAL OPPORTUNITY FUND,
a portfolio of Ancora Trust
By:
/s/ Richard A. Barone
Richard A. Barone, Chairman
ANCORA MICROCAP FUND,
a portfolio of Ancora Trust
By:
/s/ Richard A. Barone
Richard A. Barone, Chairman
ANCORA/THELEN SMALL-MID CAP FUND,
a portfolio of Ancora Trust
By:
/s/ Richard A. Barone
Richard A. Barone, Chairman
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THE BOARD OF TRUSTEES OF
ANCORA TRUST
MINUTES EXCERPT
Meeting Held:
At the Office of the Trust on
February 19, 2014
Trustees in Attendance:
Richard Barone
Raj Aggarawal (Independent)
Donald Lerner (Independent)
Anne Ogan (Independent)
Final Approval of Fidelity Bond
The next order of business was final approval of the fidelity bond for the funds from the Chubb Group of Insurance Companies, which had been approved in principle at the last board meeting. After discussion, the fidelity bond was approved.
/S/ Bradley A. Zucker
Bradley A. Zucker, Secretary
Attest:
/S/ Richard A. Barone
Richard A. Barone, Chairman
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