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GAMCO Merger Arbitrage Class A EUR


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Key Investor Information (KIID)
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GAMCO International SICAV is an investment company with variable capital (SICAV) incorporated under the law of the Grand Duchy of Luxembourg and listed on the official list of UCITS, authorised under Part I of the Law in accordance with the provisions of the UCITS Directive. GAMCO Merger Arbitrage is a Sub-Fund of GAMCO International SICAV.
SICAV Fund Overview Merger Arb Class A EUR


Investment Objective:

The investment objective of GAMCO Merger Arbitrage is to invest in announced equity merger and acquisition transactions and maintain a diversified portfolio of transactions. The Merger Arbitrage Fund seeks to achieve long term capital growth by engaging in risk arbitrage strategies.

Principal Investment Strategy:

Every deal has its own unique set of elements, and the Investment Management team works on all aspects, from fundamental and legal research, to trading. The Investment Manager analyzes and continuously monitors a pending transaction, for all the elements of potential risk, including: regulatory, terms, financing and shareholder approval.

The Investment Manager generally increases its positions as it gains clarity on the outcome of the various deal “hurdles.” The Investment Manager invests in all types of transactions. However, the Investment Manager believes that cash transactions, when announced by well financed, strategic corporate acquirers, in industries that the Investment Manager knows well, provide the best risk/return profiles for client portfolios. In fact, through the Investment Manager’s experience, cash deals in this arena have the highest probability of consummation.

Arbitrage on mergers and acquisitions consists in investing in listed securities of companies engaged in restructuring capital transactions as leveraged buyouts (LBO), mergers or takeover bids. The arbitrators seek to benefit from the decrease arising from the difference between the exchange rate of the target company and its theoretical value as a result of methods used in the restructuring operation.

“Merger Arbitrage” is a highly specialized investment approach designed principally to profit from the successful completion of proposed mergers, takeovers, tender offers, leveraged buyouts and other types of corporate reorganizations.

The Merger Arbitrage Fund may invest part of its net assets in cash and cash equivalents, including Money Market Instruments, if the Investment Manager believes that it would be in the best interest of the Merger Arbitrage Fund and its Shareholders.

The Merger Arbitrage Fund may also use a variety of investment strategies and instruments, including but not limited to: convertible and nonconvertible debt securities; asset-backed and mortgage-backed securities; shares or units of other UCIs or UCITS; rights qualifying as transferable securities; when issued, delayed delivery transferable securities, forward contracts; swaps; recently issued transferable securities; repurchase agreements, money market instruments as well as warrants.

Opportunistically, the Merger Arbitrage Fund may invest in financial derivative instruments to create both long and synthetic covered short positions with the aim of maximizing positive returns.

The Merger Arbitrage Fund may use strategies and techniques consisting of options, futures contracts, and currency transactions and may enter into total rate of return, credit default, or other types of swaps and related derivatives for various purposes, including to gain economic exposure to an asset or group of assets that may be difficult or impractical to acquire or for hedging and risk management.

Important Disclosures:
The GAMCO International SICAV (the "Fund") is for non-U.S. investors and is not offered or sold to U.S. investors. This document does not constitute an offer to anyone, or a solicitation by anyone, to subscribe for shares of the Fund. The Fund is a Luxembourg-registered UCITS. Nothing in this document should be construed as advice and is therefore not a recommendation to buy or sell shares. The document should be read in conjunction with the Prospectus and the relevant Simplified Prospectuses. All transactions should be based on the latest available Prospectus, Simplified Prospectuses, and local offering document (as applicable), which contain more information regarding charges, entry fees and minimum investment amount. A copy of the Prospectus, Simplified Prospectuses, local offering document, annual report, semi-annual report and the articles of incorporation are available free of charge upon request from J.P. Morgan Bank Luxembourg S.A., European Bank & Business Center, 6C, route de Trèves, L-2633, Senningerberg, Grand-Duchy of Luxembourg Tel: +352 46 26 85 82 5. More information is available at

Investors should consider the investment objectives, risks, sales charges and expense of the fund carefully before investing. The prospectus and simplified prospectus contain more information about this and other matters and should be read carefully before investing.

A Fund investing in announced mergers and acquisitions is subject to the risk that the announced merger or acquisition may not be completed, may be negotiated at a less attractive price, or may not close on the expected date.