The GAMCO Global Convertible Fund seeks to provide investors with a high level of total return through a combination of current income and appreciation of capital.

Principal Investment Strategies:
Under normal market conditions, the Fund will invest at least 80% of its net assets in convertible securities. Convertible securities are bonds, debentures, corporate notes, preferred stocks and other similar securities which are convertible or exchangeable for common stock within a particular time period at a specified price or formula, of foreign and domestic companies. The Adviser believes that certain characteristics of convertible securities make them appropriate investments for a fund seeking a high level of total return on its assets. These characteristics include the potential for capital appreciation if the value of the underlying common stock increases, the relatively high yield received from preferred dividend or interest payments as compared to common stock dividends and the decreased risk of decline in value relative to common stock due to the fixed income nature of convertible securities. The Fund may invest without limit in securities that are not considered investment grade and that accordingly have greater risk of loss of principal and interest.

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 are seeking monthly distributions

You may not want to invest in the Fund if:

• you are seeking a high level of current income