Adams Diversified Equity Fund, Inc. Announces Executive Changes
July 03, 2018 at 08:30 am EDT
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Adams Diversified Equity Fund, Inc. (ADX) announced that, after 21 years with the Company and its sister fund, Adams Natural Resources Fund, Inc. (PEO), Lawrence (Laurie) Hooper, Jr. has retired. He served as Adams Funds' General Counsel and Corporate Secretary since 1997, and as Chief Compliance Officer since 2005. He was also a member of the Funds' Management Committee. The Fund also announces that Janis Kerns, Assistant General Counsel, has been appointed General Counsel, Corporate Secretary, and Chief Compliance Officer, effective July 3, 2018. Ms. Kerns joined Adams Funds in January 2018 with over 23 years of experience representing the investment management industry.
Adams Diversified Equity Fund, Inc. (the Fund) is a diversified, closed-end investment company. The Fund is an internally managed fund whose investment objectives are preservation of capital, the attainment of reasonable income from investments, and an opportunity for capital appreciation. The Fund is an internally managed large-cap United States equity fund. The Fund invests at least 80% of its assets in highly liquid Standard and Poor's 500 (S&P 500) stocks. The Fund may invest up to 20% of assets in commodities (other than physical commodities), including swaps. The Fund invests in various sectors, such as communication services, consumer discretionary, consumer staples, energy, financials, health care, industrials, real estate, utilities, and information technology (IT).