As of March 31, 2015, The Adams Express Company and Petroleum & Resources Corporation will become part of a newly-branded Adams Funds platform.
The Adams Express Company (NYSE:ADX) is one of the country’s oldest and most respected closed-end funds. Along with Petroleum & Resources Corporation (NYSE: PEO), with which it shares a management team and Board of Directors, it is one of only five closed-end funds that have been continuously operating since 1929. As a name, Adams Express is symbolic of the Company’s origins but does not provide much insight into what the Fund does today. It is with this in mind that we are renaming The Adams Express Company to highlight our history and reflect what the Company offers investors today.
Beginning March 31, 2015, Adams Express will change its name to Adams Diversified Equity Fund. Similarly, Petroleum & Resources Corporation (NYSE: PEO) will change its name to Adams Natural Resources Fund. Both closed-end funds will be part of a newly-branded Adams Funds platform, and will continue to be managed by an experienced team of portfolio managers and analysts, employing a disciplined approach to identifying investment opportunities and carefully managing risk. The Funds’ ticker symbols will not change.
Our new name is both descriptive of what we do and reflective of our history. Beyond the name of the platform and the Funds’ respective names, everything else will remain the same. Our values and commitment to our shareholders will not change. We hope you share in our enthusiasm for the Adams Funds platform and the Adams Diversified Equity Fund name.