Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for
investment purposes, in the media industry. Media industry companies are companies that are primarily
engaged in the production, sale and distribution of goods or services used in the media industry. Media
industry companies are companies that derive at least 50% of their revenue from the production or
distribution of information and entertainment content, and may include television and radio stations, motion
picture companies, print publishing and providers of internet content, as well as satellite service providers,
cable service providers and advertising service providers. The Fund will specifically invest in companies
that were spun-off from Liberty Media Corporation (“Liberty Media”) as constituted in 2001, as well as in
companies that resulted from subsequent mergers of any such spin-offs or stocks that track performance
of such spin-offs or companies that resulted from subsequent mergers of any such spin-offs, and in public
companies in which Liberty Media and its successor companies invest. Liberty Media was spun off from
AT&T Corporation in August 2001, as an amalgamation of, among others, media and telecommunications
related assets. The company’s chairman and largest shareholder since inception has been Dr. John C.
Malone. Since 2001, Liberty Media has engaged in a series of spin-offs, split-offs, mergers, and tracking
stock issuances. Tracking stocks are generally common stocks issued by a parent company that track
performance of a particular division of a company without having claim on the assets of the division or the
Returns represent past performance and do not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so, upon redemption, shares may be worth more or less than their original cost. To obtain the most recent month end performance information and prospectus, please call 800-GABELLI or visit www.gabelli.com.
Performance for periods less than one year are not annualized. The Fund imposes a 2% redemption fee on shares sold or exchanged in seven days or less after a date of purchase.
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.
Customized performance does not reflect the full effect of the front-end or back-end sales charges which for Gabelli Media Mogul Fund Class I is 0.00%. Quarterly (Standardized) performance reflects the full effect of the front-end sales charge. Other Period Performance does not reflect the full effect of the front-end or back-end sales charges. Please consult your financial adviser for prospectus and for more information on mutual fund sales charges.
Funds concentrating in specific sectors may experience greater fluctuations in value than funds that are more diversified. The Fund invests in foreign securities which involves risks not ordinarily associated with investments in domestic issues, including currency fluctuation, economic and political risks.<p>
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund 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.
The Gabelli Mutual Funds are distributed by G.distributors, LLC., a registered broker-dealer and member of FINRA.