GREENWICH, Conn., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Closed-End - David Schachter, Senior Vice President of Gabelli Funds, will travel to the United Kingdom to visit selected investment trusts.
With over 40 years of experience exclusively with retail, long term, closed-end fund investors, Mr. Schachter, a most senior and experienced veteran of the U.S. Closed-End Fund industry, is also Vice President of The GAMCO Natural Resources, Gold & Income Trust (GNT), which trades on the NYSE.
During the 19th century, capital was raised through closed-end funds. These funds helped build the railroads, which linked the American continent from sea to sea and led to the nation's economic success.
Today, in the early 21st century, closed-end funds are being threatened for elimination by hedged activists for short-term and short-sighted value extraction.
"Closed-end funds are a metaphor for long-term, patient capital, but they also represent freedom for investors who, in a sector where mass redemptions could force portfolio managers to sell, is an essential ability to those who may not want to be herded into selling."
Mr. Schachter plans to visit the Gabelli office as well as the Association of Investment Companies (AIC) and speak with interested U.K. investors.
Financial professionals and investors are invited to contact Mr. Schachter directly at (914) 921-5057.
Gabelli Funds, LLC is the adviser to thirteen closed-end funds which trade on the NYSE: Gabelli Equity Trust (GAB), Gabelli Convertible & Income Securities Fund (GCV), Gabelli Multimedia Trust (GGT), Gabelli Utility Trust (GUT), Gabelli Dividend & Income Trust (GDV), Gabelli Global Utility & Income Trust (GLU), GAMCO Global Gold Natural Resources & Income Trust (GGN), The GDL Fund (GDL), Gabelli Healthcare & WellnessRX Trust (GRX), GAMCO Natural Resources, Gold & Income Trust (GNT), Gabelli Global Small and Mid-Cap Value Trust (GGZ), Bancroft Fund (BCV) and Ellsworth Growth & Income Fund (ECF). As of December 31, 2024, the thirteen Gabelli closed-end funds had total assets of $7.3 billion.
Investors should carefully consider the investment objectives, risks, charges, and expenses of a Fund before investing. For more information regarding the Funds, call:
David Schachter
(914) 921-5057
dschachter@gabelli.com
A Fund's NAV per share 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. Investors acquire shares of the Fund on a securities exchange at market value, which fluctuates according to the dynamics of supply and demand. When Fund shares are sold, they may be worth more or less than their original cost. Consequently, you can lose money by investing in a Fund.
