"The world economies have entered a period of what we see
to be long term sustainable growth never experienced during any
other period of history. With the end of the cold war and the
transition from closed to open market economies, the global arena
for market opportunities has expanded and should continue to grow.
The continued development of the free trade zones of North America
and South America, Europe and Asia Pacific all should add to this
long term expansion." |
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Under normal market conditions, the Fund will invest at least 65% of its total assets
in common stocks of companies in the telecommunications industry which the Global Team
believes are likely to have rapid growth in revenues and earnings and potential for
above average capital appreciation or are undervalued. 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 Global Team also
considers the market price of the issuer's securities, its balance sheet characteristics
and the perceived strength of its management.
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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.
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