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2 Years : From Dec 2011 to Dec 2013
GAMCO Investors, Inc. (NYSE: GBL), today announced the launch of The
Gabelli Focus Five Fund— a concentrated fund that will seek to invest up
to 50% of the fund in five companies. The balance of the fund is
expected to invest in no more than twenty additional equity securities,
short-term high-grade liquid investments or cash equivalents.
The strategy for the Focus Five Fund is similar to Gabelli & Company’s
research report, The Focus Five, published quarterly since
Daniel M. Miller will lead the Fund’s portfolio management team, which
also includes Sarah Donnelly and Elizabeth Lilly. Mr. Miller is also
currently President of Gabelli & Company, Inc., and has managed the
firm’s institutional equities business since 2004. He graduated Magna
Cum Laude from the University of Miami.
The Focus Five Fund represents a change in direction for the Gabelli
Woodland Small Cap Fund. The Board of Directors of The Gabelli Equity
Series Funds, Inc, approved the Fund’s name change and the amendments to
its current investment strategy. The Fund will continue to invest at
least 80% of its assets in small cap companies during the notice period.
Subsequently, the Fund intends to invest without limitation on market
“The launch of the Gabelli Focus Five Fund underscores our commitment to
fundamental bottom-up research,” said Mario J. Gabelli, Chairman & Chief
Executive Officer of GAMCO Investors, Inc. “Dan has been a key driver in
creating and selecting the Focus Five with our research team. The result
is a fund concentrated in the great research ideas generated by our team
Ms. Lilly joined Gabelli Funds in 2002 and has served as portfolio
manager for The Gabelli Woodland Small Cap Fund and GAMCO Mighty Mites
Fund. She began her career as a research analyst with Goldman Sachs in
Ms. Donnelly joined GAMCO in 1999 as a research analyst and currently
follows the food and household products industries. She holds a B.S. in
Finance from Fordham University.
GAMCO Investors, Inc., through its subsidiaries, manages private
advisory accounts (GAMCO Asset Management Inc.), mutual funds and
closed-end funds (Gabelli Funds, LLC), and partnerships and offshore
funds (Gabelli Securities, Inc.). As of September 30, 2011, GAMCO had
$31.3 billion in assets under management.
The Focus Five Fund is a “non-diversified” investment company which
means that it can concentrate its investments in the securities of fewer
companies to a greater extent than a diversified investment company.
Because the Fund may invest its assets in the securities of a limited
number of companies, a change in the value of the stock of any one of
these issuers may have a significant impact on the Fund’s share price.
Investors should carefully consider the investment objectives, risks,
charges, and expenses of the Fund before investing. The prospectus
contains information about these and other matters and should be read
carefully before investing. To obtain a prospectus, call 800-GABELLI (800-422-3554)
or visit www.gabelli.com.
Distributed by G.distributors, LLC, One Corporate Center, Rye, NY
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
Our disclosure and analysis in this press release contain some
forward-looking statements. Forward-looking statements give our current
expectations or forecasts of future events. You can identify these
statements because they do not relate strictly to historical or current
facts. They use words such as “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “believe,” and other words and terms of
similar meaning. They also appear in any discussion of future operating
or financial performance. In particular, these include statements
relating to future actions, future performance of our products,
expenses, the outcome of any legal proceedings, and financial results.
Although we believe that we are basing our expectations and beliefs on
reasonable assumptions within the bounds of what we currently know about
our business and operations, there can be no assurance that our actual
results will not differ materially from what we expect or believe. Some
of the factors that could cause our actual results to differ from our
expectations or beliefs include, without limitation: the adverse effect
from a decline in the securities markets; a decline in the performance
of our products; a general downturn in the economy; changes in
government policy or regulation; changes in our ability to attract or
retain key employees; and unforeseen costs and other effects related to
legal proceedings or investigations of governmental and self-regulatory
organizations. We do not undertake to update publicly any
forward-looking statements if we subsequently learn that we are unlikely
to achieve our expectations or if we receive any additional information
relating to the subject matters of our forward-looking statements.