The Gabelli Convertible Securities Fund is a closed-end, diversified management investment company whose investment objective is to seek a high level of total return on its assets. Our mandate is to preserve and enhance our shareholders' wealth through a conservative, disciplined approach to convertible securities investing. Our goal is to generate consistently positive inflation-adjusted returns. The Convertible Securities Fund maintains an annual 8.00% distribution policy. The Fund pays a quarterly dividend of $0.20 per share for each of the first three quarters and an adjusting distribution in December to make up 8% of its average net assets.