"At GAMCO Global Convertible Securities Funds, we seek firms which are undervalued in relation to their long term potential value. We then look for some dynamic in the country or company which can unlock this value."
The GAMCO Global Convertible Securities Fund invests principally in bonds and preferred stocks which are convertible into common stock of foreign and domestic companies. The Fund's primary objective is to seek a high level of total return through a combination of current income and capital appreciation.

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.

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.