Gabelli Funds, LLC announced today that the Board of Trustees of the Ned Davis Research Funds
(the "Trust") has voted to liquidate the Ned Davis Research Asset Allocation Fund (the "Fund"),
and distribute the assets to shareholders. The Board agreed that liquidating the Fund, which
was launched on March 31, 2003, is in the best interests of shareholders given its asset level,
ongoing transactional and operating costs, and limited marketability.
Consequently, the Fund will no longer be accepting orders for the purchase of shares from new
investors or existing shareholders. The Fund's assets will no longer be invested in accordance
with its investment objectives and policies, but rather the Fund will sell its assets and
distribute the proceeds and any investment income and gains to shareholders of record on the
liquidation date. The Fund anticipates that it will retain its qualification for treatment
as a regulated investment company through the liquidation period. After paying or providing
for the payment of all liabilities, the Fund will distribute the remaining assets to shareholders
of record on a pro rata basis within each share class.
Gabelli Funds, LLC is a wholly owned subsidiary of GAMCO Investors, Inc. (NYSE:GBL) which
manages, through its subsidiaries, approximately $26.8 billion.