Fund Description

The fund was incepted in June 1995 and is managed by Gabelli Funds. The fund seeks to provide investors with long-term capital appreciation. The production of any current income is incidental. The fund invests primarily in equity securities of foreign issuers located in at least three countries outside the United States which are likely to have rapid growth in revenues and earnings and potential for above-average capital appreciation. Equity securities include common and preferred stocks, securities convertible into common stocks and securities like rights and warrants that have common stock characteristics. The fund seeks to invest in companies that have the potential to grow faster than other companies in their respective equity markets and are priced at attractive valuation levels. Dividends and capital gains are distributed annually.