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Annual Report 1999 |
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At A Glance |
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| The Company |
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Stock Data |
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a closed-end equity investment company |
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NYSE Symbol: |
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ADX |
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objectives:
-preservation of capital
-reasonable income
-opportunity for capital gain
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Market Price as of 12/31/99: |
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$33 9/16 |
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internally-managed |
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Discount: |
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16.7% |
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low expense ratio |
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52-Week Range: |
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$33 15/16 - $25 3/4 |
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low turnover |
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Shares Outstanding: |
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53,894,827 |
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| Summary Financial Information |
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Year Ended December 31 |
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1999 |
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1998 |
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Net asset value per share |
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$ 40.28 |
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$ 32.54 |
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Total net assets |
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2,170,801,875 |
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1,688,080,336 |
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Unrealized appreciation |
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1,298,662,686 |
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879,139,734 |
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Net investment income |
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19,143,783 |
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22,579,513 |
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Total realized gain |
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106,820,166 |
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82,933,498 |
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Total return (based on market value) |
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36.1% |
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19.3% |
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Total return (based on net asset value) |
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33.6% |
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23.7% |
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Expense ratio |
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0.32% |
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0.22% |
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2000 Annual Meeting of Stockholders
Location: The Colony Hotel, Palm Beach, Florida
Date: March 28, 2000
Time: 11 a.m.
Holders of Record: February 14, 2000
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