+ Gabelli Funds, LLC (the ‘‘Adviser’’) has contractually agreed to waive its investment advisory fees and/or to reimburse expenses of the Fund to the extent necessary to maintain the Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement (excluding brokerage costs, acquired fund fees and expenses, interest, taxes, and extraordinary expenses) from exceeding 0.90% of the Fund’s average daily net assets per year (the ‘‘Expense Cap’’). This arrangement is in effect until January 31, 2018 and may be terminated only by the Board of Trustees of the Company (the ‘‘Board’’) before such time. The Fund will carry forward, for a period not to exceed three years from the date that an amount is waived, any fees in excess of the expense limitation and repay the Adviser such amount provided the Fund is able to do so without exceeding the lesser of (1) the expense limit in effect at the time of the waiver or reimbursement, as applicable, or (2) the expense limit in effect at the time of recoupment.
* Contingent Deferred Sales Charge
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 carefully consider the investment objectives, risks, charges and expenses of Gabelli NextShares before investing. The prospectus, which contains more complete information about this and other matters, should be read carefully before investing. To obtain a prospectus, please call 800-GABELLI or visit www.gabelli.com.
Industry Concentration Risk: The Fund invests a significant portion of its assets in companies in the infrastructure industry and, as a result, the value of the Fund’s shares is more susceptible to factors affecting those particular types of companies and that industry, including governmental regulation, a greater price volatility than the overall market, rapid obsolescence of products and services, intense competition and strong market reactions to infrastructure developments. As a consequence of its concentration policy, the Fund’s investments may be subject to greater risk and market fluctuation than a fund that has securities representing a broader range of alternatives.
NextSharesTM is a trademark of NextShares Solutions LLC. All rights reserved.
Creation units of Gabelli NextShares are distributed by G.distributors, LLC., an affiliate of Gabelli Funds, LLC, the investment adviser to Gabelli NextShares.