Fund Net Asset Value and Current Conversion Ratio

Fund Net Asset Value and Current Conversion Ratio

Welcome to the Special Opportunities Fund, Inc. website

Special Opportunities Fund, Inc. (formerly, Insured Municipal Income Fund Inc.) was incorporated in Maryland on February 19, 1993, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended, as a closed-end diversified management investment company. Effective December 21, 2009, the Fund changed its name to the Special Opportunities Fund, Inc. and changed its investment objective to total return.

The Funds investment advisor, Bulldog Investors LLC, employs an opportunistic investment philosophy with a particular emphasis on investing in discounted closed-end funds, undervalued operating companies, and other attractive special situations including risk arbitrage and distressed securities.

There can be no assurance that the Funds investment objective will be achieved.

Before investing in the Fund, prospective investors should consider carefully the Funds investment objective(s), risks, and charges and expenses. To obtain the Funds most recent annual and semi-annual shareholder report contact your financial advisor or download a copyhere.