Discount Doctor to Visit United Kingdom in Support of Investment Trusts
GAMCO Investors Senior Vice President David Schachter, recently titled 'Discount Doctor' by The GAMCO Natural Resources, Gold & Income Trust (GNT), will visit the United Kingdom to support the British investment trust industry. With over 40 years of experience in retail, long-term, closed-end fund investments, Schachter aims to address concerns about hedge fund activism threatening closed-end funds.
Schachter emphasizes the historical significance of British Investment Trusts in funding American railroads during the 1800s and warns against short-term activist strategies that could harm long-term investors. Gabelli Funds, currently manages thirteen closed-end funds trading on NYSE with total assets of $7.3 billion as of December 31, 2024.
David Schachter, Vicepresidente Senior di GAMCO Investors, recentemente soprannominato 'Dottore degli Sconti' dal GAMCO Natural Resources, Gold & Income Trust (GNT), visiterà il Regno Unito per supportare l'industria degli investimenti britannici. Con oltre 40 anni di esperienza negli investimenti in fondi chiusi a lungo termine nel settore retail, Schachter mira a affrontare le preoccupazioni riguardo all'attivismo degli hedge fund che minaccia i fondi chiusi.
Schachter sottolinea l'importanza storica dei British Investment Trusts nel finanziare le ferrovie americane durante il 1800 e mette in guardia sulle strategie attiviste a breve termine che potrebbero danneggiare gli investitori a lungo termine. Gabelli Funds gestisce attualmente tredici fondi chiusi quotati al NYSE con un totale di 7,3 miliardi di dollari al 31 dicembre 2024.
David Schachter, Vicepresidente Senior de GAMCO Investors, recientemente apodado 'Doctor Descuento' por el GAMCO Natural Resources, Gold & Income Trust (GNT), visitará el Reino Unido para apoyar la industria de fondos de inversión británica. Con más de 40 años de experiencia en inversiones en fondos cerrados a largo plazo en el sector minorista, Schachter tiene como objetivo abordar las preocupaciones sobre el activismo de los fondos de cobertura que amenaza a los fondos cerrados.
Schachter enfatiza la importancia histórica de los British Investment Trusts en la financiación de los ferrocarriles estadounidenses durante 1800 y advierte sobre las estrategias activistas a corto plazo que podrían dañar a los inversores a largo plazo. Gabelli Funds actualmente gestiona trece fondos cerrados cotizados en la NYSE con activos totales de 7.3 mil millones de dólares a 31 de diciembre de 2024.
David Schachter, GAMCO Investors의 수석 부사장으로 최근 GAMCO Natural Resources, Gold & Income Trust (GNT)에서 '할인 의사'라는 별명을 얻은 그는 영국을 방문하여 영국 투자 신탁 산업을 지원할 예정이다. 40년 이상의 소매 부문 및 장기 폐쇄형 펀드 투자 경험을 바탕으로, Schachter는 헤지 펀드의 행동주의가 폐쇄형 펀드에 위협이 된다는 우려를 해결하려고 한다.
Schachter는 1800년대에 미국 철도에 자금을 지원한 영국 투자 신탁의 역사적 중요성을 강조하고 장기 투자자에게 해를 끼칠 수 있는 단기 행동주의 전략에 대해 경고한다. 현재 Gabelli Funds는 NYSE에 상장된 13개의 폐쇄형 펀드를 관리하며, 2024년 12월 31일 기준으로 총 자산은 73억 달러에 달한다.
David Schachter, Vice-président senior de GAMCO Investors, récemment surnommé 'Docteur Discount' par le GAMCO Natural Resources, Gold & Income Trust (GNT), se rendra au Royaume-Uni pour soutenir l'industrie des fonds d'investissement britannique. Fort de plus de 40 ans d'expérience dans les investissements en fonds fermés à long terme dans le secteur de la vente au détail, Schachter vise à répondre aux préoccupations concernant l'activisme des fonds spéculatifs qui menace les fonds fermés.
Schachter souligne l'importance historique des Trusts d'Investissement Britanniques dans le financement des chemins de fer américains au 19ème siècle et met en garde contre les stratégies activistes à court terme qui pourraient nuire aux investisseurs à long terme. Gabelli Funds gère actuellement treize fonds fermés cotés au NYSE avec des actifs totaux de 7,3 milliards de dollars au 31 décembre 2024.
David Schachter, Senior Vice President von GAMCO Investors, der kürzlich von GAMCO Natural Resources, Gold & Income Trust (GNT) zum 'Rabatt-Arzt' gekürt wurde, wird das Vereinigte Königreich besuchen, um die britische Investmentfondsbranche zu unterstützen. Mit über 40 Jahren Erfahrung in Einzelhandels- und langfristigen geschlossenen Fondsinvestitionen beabsichtigt Schachter, Bedenken bezüglich des Aktivismus von Hedgefonds auszuräumen, der geschlossene Fonds bedroht.
Schachter betont die historische Bedeutung der britischen Investmentfonds bei der Finanzierung von amerikanischen Eisenbahnen im 19. Jahrhundert und warnt vor kurzfristigen aktivistischen Strategien, die langfristige Investoren schädigen könnten. Gabelli Funds verwaltet derzeit dreizehn geschlossene Fonds, die an der NYSE gehandelt werden, mit einem Gesamtvermögen von 7,3 Milliarden Dollar zum 31. Dezember 2024.
- Company manages substantial assets of $7.3 billion across thirteen closed-end funds
- Strong presence in closed-end fund market with thirteen NYSE-listed funds
- Facing threats from hedge fund activists seeking short-term value extraction
- Potential market value fluctuations affecting fund shares
RYE, N.Y., Jan. 28, 2025 (GLOBE NEWSWIRE) -- David Schachter, Senior Vice President of GAMCO Investors, Inc., will visit the United Kingdom to convey support for the British investment trust industry.
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, was recently given the title of Discount Doctor by the Trustees of The GAMCO Natural Resources, Gold & Income Trust (GNT), which trades on the NYSE.
Mr. Schachter said, “The way I see it, the United States owes a debt to the British Investment Trust Industry, which helped build our railroads in the 1800s. Last week in his inauguration speech, President Trump spoke of America’s achievements stating, ‘In America, the impossible is what we do best…Together they laid down the railroads …and triumphed over every single challenge that they faced.’”
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 offices of the Association of Investment Companies (AIC) and speak with the press and interested U.K. investors.
He remarked that recent activism is emblematic of short-termism and notes activist claims of being aligned with “Mom and Pop” investors as being absurd. “When it comes to activism, the playing field isn’t level at all…unlike Mom and Pop, sophisticated activists are hedged on a fund’s underlying portfolio.” Schachter commented, “As the Discount Doctor, it is critical to cure the ill without killing the patient in the process.”
Financial professionals and investors are invited to contact Mr. Schachter directly at (914) 921-5057 or (800) GABELLI.
Gabelli Funds, LLC is the adviser to thirteen closed-end funds which trade on the NYSE: Gabelli Equity Trust (NYSE: GAB), Gabelli Convertible & Income Securities Fund (NYSE: GCV), Gabelli Multimedia Trust (NYSE: GGT), Gabelli Utility Trust (NYSE: GUT), Gabelli Dividend & Income Trust (NYSE: GDV), Gabelli Global Utility & Income Trust (NYSE American: GLU), GAMCO Global Gold Natural Resources & Income Trust (NYSE American: GGN), The GDL Fund (NYSE: GDL), Gabelli Healthcare & WellnessRX Trust (NYSE: GRX), GAMCO Natural Resources, Gold & Income Trust (NYSE: GNT), Gabelli Global Small and Mid-Cap Value Trust (NYSE: GGZ), Bancroft Fund (NYSE American: BCV) and Ellsworth Growth & Income Fund (NYSE American: ECF). As of December 31, 2024, the thirteen Gabelli closed-end funds had total assets of
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
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.
FAQ
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