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Gabelli Asset Management Inc. (NYSE: GBL) is pleased to announce that Morningstar, Inc. has
awarded its 5-star rating to two more Gabelli Funds, bringing to 14 the number of Gabelli Funds
that carry a 4- or 5-star rating from the firm. This represents 98% of Gabelli Mutual Funds'
assets that are rated by Morningstar.
Morningstar Rated TM the Gabelli Global Opportunity and
Westwood Mighty Mites Funds 5 stars overall and for the three-year period ended May 31, 2001.
The Gabelli Global Opportunity Fund was rated among 1327 international equity funds, and the
Gabelli Westwood Mighty Mites SM Fund was rated among
4429 domestic equity funds.
Recent industry trends indicate that more than 90 percent of mutual fund net cash inflows are
invested in 4- or 5-Star funds.
Two Unique Funds with 3 Year Performance Records
The Gabelli Global Opportunity Fund searches the world for growth and value opportunities in
its stock selection process. The fund is team managed.
The Gabelli Westwood Mighty MitesSM Fund invests in domestic micro-cap companies that have a
market capitalization of $300 million or less. The fund is team managed.
Gabelli Asset Management Inc., through its subsidiaries, manages approximately $25 billion in
assets of mutual funds, closed-end funds, partnerships and private advisory accounts.
FORWARD LOOKING INFORMATION
This release may contain forward-looking statements about future operations, results and
performance, which involve risks and uncertainties that may cause the actual operations,
results or performance to differ materially from those expressed in or implied by the
forward-looking statements. These risks and uncertainties include the performance of the
securities markets and the Company's investment products, future economic conditions, changes
in business strategy and other factors. Consequently, no assurance can be given as to future
operations, results or performance, and neither the Company nor any other person assumes
liability for the accuracy and completeness of the forward-looking statements in this press
release.
Past performance does not guarantee future results. The prospectuses
contain more complete information. Please read them carefully before you invest or send money.
Morningstar ratings reflect historical risk adjusted performance as of 5/31/01 and are subject
to change every month. Morningstar proprietary ratings are calculated from the Fund’s three,
five and ten-year average annual returns in excess of 90-day T-bill returns with appropriate
fee adjustments and a risk factor that reflects fund performance below 90 day T-bill returns.
The top 10% in a broad asset class receive five stars.
The Gabelli Global Opportunity Fund
invests in foreign securities which involves risks not ordinarily associated with investment
in domestic issues, including currency fluctuations, economic and political risks. The Gabelli
Westwood Mighty Mites Fund may invest in relatively new or unseasoned companies, which are in
their early stages of development, or micro-cap companies positioned in new and emerging
industries. Micro-cap companies may be illiquid. Investing in micro-capitalization stocks may
involve greater risk than investing in small, medium and large capitalization stocks, since
they can be subject to more abrupt or erratic movements in price. Ratings pertain to Class AAA
shares only.
The funds are distributed by Gabelli & Company, Inc., One Corporate Center, Rye, NY 10580
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