FAUST OPPENHEIM LLP
ATTORNEYS AT LAW
488 MADISON AVENUE
NEW YORK, NEW YORK 10022
July 17, 2013
VIA EDGAR
Securities and Exchange Commission
Division of Investment Management
100 F Street, NE
Washington, D.C. 20549
| Re: | Copley Fund, Inc. (the “Fund”) |
| (File Nos. 2-60951 and 811-2815) |
Ladies and Gentlemen:
On behalf of Copley Fund, Inc. (the “Fund”), we hereby certify pursuant to Rule 497(j) under the Securities Act of 1933, as amended (the “1933 Act”), that the form of Prospectus and the Statement of Additional Information relating to the Fund, that would have been filed pursuant to Rule 497(c) under the 1933 Act upon the effectiveness of Post-Effective Amendment No. 46 to the Fund’s Registration Statement on Form N-1A (the “Amendment”) would not have differed from those contained in the Amendment. The Amendment, which was filed via the EDGAR system on July 3, 2013 and became effective on July 3, 2013, is the most recent amendment to the Fund’s Registration Statement.
Please call the undersigned or Petra Davenport at (212) 751-7700 with any questions relating to the filing.
Sincerely,
/s/ David I. Faust
David I. Faust, Partner
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| Label | Element | Value | ||||||
|---|---|---|---|---|---|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |||||||
| Entity Central Index Key | dei_EntityCentralIndexKey | 0000721291 | ||||||
|
COPLEY FUND INC /NV/ (Prospectus Summary) | COPLEY FUND INC /NV/
|
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| Risk/Return: | rr_RiskReturnAbstract | |||||||
| Risk/Return, Heading | rr_RiskReturnHeading | COPLEY FUND, INC. |
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| Investment Objective, Heading | rr_ObjectiveHeading | INVESTMENT OBJECTIVE |
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| investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Fund seeks to generate and accumulate dividend income. |
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| Expense, Heading | rr_ExpenseHeading | FEES AND EXPENSES OF THE FUND |
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| Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. |
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| Shareholder Fees, Caption | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) |
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| Operating Expenses, Caption | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
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| Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover |
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| Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 0.64% of the average value of its portfolio. |
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| Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 0.64% | ||||||
| Expense Example, Heading | rr_ExpenseExampleHeading | Example |
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| Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that all dividends and distributions have been reinvested, and that the Fund's operating expenses remain the same. The example also assumes that the current contractual fee waiver is not renewed. |
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| Investment Strategy, Heading | rr_StrategyHeading | Prinipl Investment Strategies |
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| Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | Under normal conditions, the Fund invests at least 90% of its total assets in equity securities of domestic issuers listed on a nationally recognized securities exchange or traded on the NASDAQ System. The Fund invests, in stocks from a variety of industries included in the energy, communication, financial, pharmaceutical, insurance, retail and pipeline sectors. These are some of the sectors within the economy which the Adviser believes will contain companies which pay relatively high dividends which are increased on a regular and consistent basis. |
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| Risk, Heading | rr_RiskHeading | Principal Investment Risks |
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| Risk, Narrative | rr_RiskNarrativeTextBlock | The Fund invests primarily in equity securities that fluctuate in value. Political and economic news and events can influence market wide trends. Other factors may cause price swings in a single company's stock or the stocks of the companies within a given industry. The Fund invests primarily in companies that pay dividends. There is a risk that these companies could stop paying dividends. The Fund often invests a significant portion of its assets in public utility companies. This results in the Fund's performance being closely tied to conditions affecting that industry such as interest rate sensitivity, regulatory changes, environmental issues, natural gas and coal prices and the risks associated with the operation of nuclear power plants. Shareholder would lose money if the Fund were to be held liable for any federal accumulated earnings tax. The Fund is not a regulated investment company (RIC). Hence, it is liable for taxes which are payable from Fund assets. Loss of money is a risk of investing in the Fund. |
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| Risk, Lose Money | rr_RiskLoseMoney | Loss of money is a risk of investing in the Fund. | ||||||
| Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Bar Chart and Performance Table |
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| Performance, Narrative | rr_PerformanceNarrativeTextBlock | The information in the bar chart and table that follows provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the 1, 5 and 10 years and for the life of the Fund compare to those of broad measures of market performance. The Fund's past performance (after taxes) is not necessarily an indication of how the Fund will perform in the future. |
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| Performance, Information Illustrates Variability of Returns | rr_PerformanceInformationIllustratesVariabilityOfReturns | The information in the bar chart and table that follows provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns for the 1, 5 and 10 years and for the life of the Fund compare to those of broad measures of market performance. | ||||||
| Performance, Past Does Not Indicate Future | rr_PerformancePastDoesNotIndicateFuture | The Fund’s past performance (after taxes) is not necessarily an indication of how the Fund will perform in the future. | ||||||
| Bar Chart, Closing | rr_BarChartClosingTextBlock | During the ten-year period shown in the above chart, the highest quarterly return was 11.97% (for the quarter ended June 30, 2003) and the lowest quarterly return was (18.28)% (for the quarter ended December 31, 2007). |
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| Performance Table Heading | rr_PerformanceTableHeading | Average annual total returns for the periods ended December 31, 2012 |
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| Index No Deduction for Fees, Expenses, Taxes | rr_IndexNoDeductionForFeesExpensesTaxes | (reflect no deduction for fees, expenses or taxes) | ||||||
| Performance Table, Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the highest individual federal marginal income tax rate and do not include the impact of state and local taxes | ||||||
| Performance Table, Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | After-tax returns are not relevant to investors who hold their shares in a tax-deferred account (including a 401(k) or IRA), or to investors who are tax-exempt. | ||||||
| Performance Table, Narrative | rr_PerformanceTableNarrativeTextBlock | The following table shows the Fund's average annual returns (after taxes) and the change in value of a broad-based market index over various periods ended December 31, 2012. The index information is intended to permit you to compare the Fund's performance to a broad measure of market performance. After-tax returns are calculated using the highest individual federal marginal income tax rate and do not include the impact of state and local taxes. In some instances, the “Return After Taxes on Distributions and Redemption” may be greater than the “Return Before Taxes” because you are assumed to be able to use the capital loss on the sale of shares to offset other taxable gains. Your actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns reflect past tax effects and are not predictive of future tax effects. After-tax returns are not relevant to investors who hold their shares in a tax-deferred account (including a 401(k) or IRA), or to investors who are tax-exempt. |
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| Performance Table, Closing | rr_PerformanceTableClosingTextBlock | * The Fund has a policy not to make distributions. |
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COPLEY FUND INC /NV/ (Prospectus Summary) | COPLEY FUND INC /NV/ | S&P 500 Index
|
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| Risk/Return: | rr_RiskReturnAbstract | |||||||
| Average Annual Returns, Label | rr_AverageAnnualReturnLabel | S&P 500 Index, Comparative Index (reflect no deduction for fees, expenses or taxes) | ||||||
| Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 16.00% | ||||||
| Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 1.66% | ||||||
| Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 7.10% | ||||||
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COPLEY FUND INC /NV/ (Prospectus Summary) | COPLEY FUND INC /NV/ | COPLEY FUND INC /NV/
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| Risk/Return: | rr_RiskReturnAbstract | |||||||
| Maximum Sales Charge (Load) Imposed on Purchases | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||
| Maximum Deferred Sales Charge (Load) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||||
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||
| Redemption Fee (as a % of amount redeemed) on Shares Held Less Than 10 Days | rr_RedemptionFeeOverRedemption | 2.00% | ||||||
| Management Fees | rr_ManagementFeesOverAssets | 0.75% | ||||||
| Distribution and/or Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||
| Net deferred taxes | rr_Component1OtherExpensesOverAssets | 4.43% | [1] | |||||
| Operating Division Expenses | rr_Component2OtherExpensesOverAssets | 0.05% | ||||||
| Other Expenses | rr_OtherExpensesOverAssets | 5.48% | ||||||
| Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 6.23% | ||||||
| Fee Waiver | rr_FeeWaiverOrReimbursementOverAssets | (0.09%) | [2] | |||||
| Total Annual Fund Operating Expenses After Fee Waiver | rr_NetExpensesOverAssets | 6.14% | [3] | |||||
| Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2014-02-28 | ||||||
| Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 610 | ||||||
| Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 1,828 | ||||||
| Expense Example, With Redemption, 5 Years | rr_ExpenseExampleYear05 | 3,015 | ||||||
| Expense Example, With Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 5,858 | ||||||
| Annual Return 2002 | rr_AnnualReturn2002 | (13.90%) | ||||||
| Annual Return 2003 | rr_AnnualReturn2003 | 14.31% | ||||||
| Annual Return 2004 | rr_AnnualReturn2004 | 12.99% | ||||||
| Annual Return 2005 | rr_AnnualReturn2005 | 5.89% | ||||||
| Annual Return 2006 | rr_AnnualReturn2006 | 19.70% | ||||||
| Annual Return 2007 | rr_AnnualReturn2007 | (10.83%) | ||||||
| Annual Return 2008 | rr_AnnualReturn2008 | (15.60%) | ||||||
| Annual Return 2009 | rr_AnnualReturn2009 | 2.36% | ||||||
| Annual Return 2010 | rr_AnnualReturn2010 | 7.04% | ||||||
| Annual Return 2011 | rr_AnnualReturn2011 | 12.96% | ||||||
| Annual Return 2012 | rr_AnnualReturn2012 | 4.89% | ||||||
| Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | highest quarterly return | ||||||
| Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2003 | ||||||
| Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 11.97% | ||||||
| Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | lowest quarterly return | ||||||
| Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2007 | ||||||
| Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (18.28%) | ||||||
| Average Annual Returns, Label | rr_AverageAnnualReturnLabel | Return Before Taxes | ||||||
| Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 4.89% | ||||||
| Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 1.84% | ||||||
| Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 4.81% | ||||||
|
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| Label | Element | Value |
|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |
| Entity Registrant Name | dei_EntityRegistrantName | COPLEY FUND INC /NV/ |
| Entity Central Index Key | dei_EntityCentralIndexKey | 0000721291 |
| Document Creation Date | dei_DocumentCreationDate | Jun. 28, 2013 |
| Document Effective Date | dei_DocumentEffectiveDate | Jun. 28, 2013 |
| Prospectus Date | rr_ProspectusDate | Jun. 28, 2013 |