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GAMCO Westwood Balanced Fund
One Corporate Center
Rye, New York 10580-1422

Information as of Sep 30, 2009
unless otherwise noted.
GAMCO Westwood Balanced Fund - Objective
 

The Westwood Balanced Fund seeks to provide capital appreciation and current income resulting in a high total investment return consistent with prudent investment risk and a balanced investment approach. Capital is the amount of money you invest in the Fund. Capital appreciation is an increase in the value of an investment. Income is the amount of money you earn annually on your invested capital.

Principal Investment Strategies:
The Fund invests in a combination of equity and debt securities. The Fund is primarily equity-oriented, and uses a top down approach in seeking to provide equity-like returns but with lower volatility than a fully invested equity portfolio. The Sub-Adviser will typically invest 30% to 70% of the Fund's assets in equity securities and 70% to 30% in debt securities, and the balance of the Fund's assets in cash or cash equivalents. The actual mix of assets will vary depending on the Sub-Adviser's analysis of market and economic conditions.

The Fund invests in stocks of seasoned companies. Seasoned companies generally have market capitalizations of $1 billion or more and have been operating for at least three years. The Sub-Adviser chooses stocks of seasoned companies with proven records and above-average earnings growth potential.

The debt securities held by the Fund are investment grade securities of corporate and government issuers and commercial paper and mortgage- and asset-backed securities. Investment grade debt securities are securities rated in one of the four highest ratings categories by a nationally recognized rating agency. There are no restrictions on the maximum or minimum maturity of any individual security that the Fund may invest in.

The Fund may appeal to you if:

  • you are a long-term investor
  • you seek growth of capital and current income
  • you want participation in market growth with some emphasis on preserving assets in "down" markets

    You may not want to invest in the Fund if:

  • you seek stability of principal more than growth of capital
  • you seek an aggressive growth strategy
    •  

    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.