MADISON HEIGHTS, Mich., Aug. 29 /PRNewswire-FirstCall/ -- The board of directors of NAIC Growth Fund, Inc. (GRTH.PK), a diversified closed-end investment company, has adopted a stock buyback program authorizing the fund to buy back up to 100,000 of its shares of common stock in open-market transactions at prevailing market prices.
The specific timing and amount of repurchases will vary based on market and business conditions, securities law limitations and other factors. The repurchases will be made using the fund's cash resources. The program may be suspended or discontinued at any time without prior notice.
The fund, established on July 2, 1990, by the National Association of Investors Corporation, is listed on the Chicago Stock Exchange.
Following BetterInvesting's (formerly the National Association of Investors Corporation, NAIC) philosophy of investing, the fund's objective is long-term growth with little regard to short-term market fluctuations. Investment decisions are based on the principles and philosophy of BetterInvesting: invest regularly whether the market is high or low; reinvest earnings; buy securities of companies whose sales and earnings are growing faster than the total economy; and invest in a variety of industries and in different size companies.
BetterInvesting is the brand identity of the National Association of Investors Corporation, a national, nonprofit association with members consisting of investment clubs and individual investors. Founded in 1951 and with headquarters in Madison Heights, Mich., BetterInvesting is considered the pioneer of the modern investment club movement, as well as the voice of the individual investor. BetterInvesting is dedicated to providing a sound program of investment education and information to help its members become successful long-term, lifetime investors. The BetterInvesting community currently consists of nearly 165,000 individual members, and more than 16,000 investment clubs. On average, BetterInvesting members add a collective $130 million of new investment capital to their portfolios each month, and boast combined portfolio assets in excess of $117 billion. For more information about BetterInvesting, visit its website at http://www.betterinvesting.org/ or call toll free (877) 275-6242. For additional BetterInvesting data and news releases, visit the Newsroom website at http://www.betterinvestingnewsroom.org/.
The NAIC Growth Fund, with a net asset value of more than $27 million, is a closed-end mutual fund. Its shares are available to both NAIC's BetterInvesting members and nonmembers. For more information, visit the NAIC Growth Fund, Inc. website at http://www.naicgrowthfund.com/.
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