SPECIAL OPPORTUNITIES FUND, INC.

Special Opportunities Fund, Inc. is a closed-end balanced fund of funds. It is managed by Bulldog Investors, LLC. The fund invests in closed-end funds that focus on public equity and fixed income markets. To make its investments, the fund uses a combination of value, opportunistic, and special situations strategies. Its portfolio performance is benchmarked against the S&P 500 Index. The fund was established on February 18, 1993, and is based in the United States. It was formerly known as Insured Municipal Income Fund, Inc.