+ The Adviser has agreed to waive its investment advisory fee and/ or reimburse expenses of the Fund to the extent necessary to maintain the Total Annual Fund Operating Expenses (excluding brokerage, interest, tax and extraordinary expenses) at an annual rate of 2.00% for Class AAA Shares. Under this same arrangement, the Fund has agreed during the two-year period following any waiver or reimbursement by the Adviser, to repay such amount to the extent, after giving effect to the repayment, such adjusted Total Annual Fund Operating Expenses would not exceed 2.00% for Class AAA Shares on an annualized basis. This arrangement is in effect at least through May 1, 2014 and may only be terminated by the Board of Trustees of the Fund before such time.
* Contingent Deferred Sales Charge
** The Funds are intended for long-term investors and not for those who wish to
trade frequently in Fund shares. The Funds believe that excessive short-term trading of Fund shares creates
risks for the Funds and their long-term shareholders, including interference with efficient portfolio
management, increased administrative and brokerage costs and potential dilution in the value of shares.
Certain of the Funds impose and retain a 2.00% redemption fee (short-term trading fee) on shares that are
sold or exchanged on or before the seventh day after the date of purchase.
Please refer to Fund's prospectus for more information on the Short term trading fee.
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 carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The prospectus, which contains more complete information about this and other matters, should be read carefully before investing. To obtain a prospectus, please call 800-GABELLI or visit www.gabelli.com.
The Gabelli Mutual Funds are distributed by G.distributors, LLC., a registered broker-dealer and member of FINRA.