A special-purpose, unusual type of closed-end investment company offering two classes of stock in approximately equal amounts. One class, called income shares, is entitled to all the portfolio's dividend and interest income, while the second, called capital shares, is entitled to appreciation in investments in the firm's portfolio. At the time a dual purpose fund is established, a date is set on which the fund will be liquidated. At that time, income shareholders receive preference up to the par value of their shares, and capital shareholders receive any excess. Also called dual fund, leveraged investment company.