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The GAMCO Global Telecommunications Fund
One Corporate Center
Rye, New York 10580-1422

Information as of Sep 30, 2009
unless otherwise noted.
The GAMCO Global Telecommunications Fund - Objective
 

The GAMCO Global Telecommunications Fund primarily seeks to provide investors with appreciation of capital. Current income is a secondary objective of the Fund.

Principal Investment Strategies:
Under normal market conditions, the Fund will invest at least 80% of its net assets in common stocks of companies in the telecommunications industry which the Adviser believes are likely to have rapid growth in revenues and earnings and potential for above average capital appreciation or are undervalued. The Fund invests primarily in common stocks of foreign and domestic small capitalization, mid-capitalization and large capitalization issuers. The Fund may invest without limitation in securities of foreign issuers and will invest in securities of issuers located in at least three countries. In selecting investments, the Adviser also considers the market price of the issuer's securities, its balance sheet characteristics and the perceived strength of its management.

The telecommunications companies in which the Fund may invest are engaged in the following products or services: regular telephone service throughout the world; wireless communications services and equipment, including cellular telephone, microwave and satellite communications, paging, and other emerging wireless technologies; equipment and services for both data and voice transmission, including computer hardware and software; electronic components and communications equipment; video conferencing; electronic mail; local and wide area networking, and linkage of data and word processing systems; publishing and information systems; video text and teletext; emerging technologies combining television, telephone and computer systems; broadcasting, including television and radio via VHF, UHF, satellite and microwave transmission and cable television.

The Fund may appeal to you if:

  • you are a long-term investor
  • you seek growth of capital
  • you seek to diversify your investments outside the United States

You may not want to invest in the Fund if:

  • you are seeking a high level of current income
  • you are conservative in your investment approach
 

The GAMCO Global Series Funds invests in foreign securities which involves risks not ordinarily associated with investments in domestic issues, including currency fluctuation, economic and political risks. Funds concentrating in specific sectors may experience greater fluctuations in value than funds that are more diversified.

The Fund's share price will fluctuate with changes in the market value of the Fund's portfolio securities. Stocks are subject to market, economic and business risks that cause their prices to fluctuate. When you sell Fund shares, they may be worth less than what you paid for them. Consequently, you can lose money by investing in the Fund.

Investors should consider the investment objectives, risks, sales charges and expense of the fund carefully before investing. The prospectus contains more complete information about this and other matters. The prospectus should be read carefully before investing.

You can obtain a free prospectus by calling Gabelli & Company, Inc. at 1-800-GABELLI (1-800-422-3554), or contacting your financial representative or by visiting http://www.gabelli.com.

Distributed by Gabelli & Company, Inc. One Corporate Center, Rye, NY 10580.