Gabelli Commercial Aerospace and Defense ETF (GCAD) Team to Ring NYSE Closing Bell

Rhea-AI Summary

Gabelli Funds (OTCQX: GAMI) announced the launch of its fifth ETF, the Gabelli Commercial Aerospace & Defense ETF (GCAD), which started trading on January 4, 2023. Lieutenant Colonel G. Anthony Bancroft, a portfolio manager at Gabelli Funds, rang the NYSE closing bell to commemorate the launch. The ETF will initially offer a ‘loyalty’ program, waiving fees on the first $25 million of assets. As of September 30, 2022, GAMCO managed $27.6 billion in assets. However, potential investors should be aware of additional risks due to the ETF's unique structure, which limits transparency.

Positive

• Launch of the fifth ETF (GCAD) may increase assets under management.
• No fees on the first $25 million of assets may attract initial investment.

Negative

• ETF transparency limitations may lead to higher trading costs and price discrepancies.
• Investment is not guaranteed; potential loss of investment capital.

GREENWICH, Conn.--(BUSINESS WIRE)-- Gabelli Funds (“GAMCO”) (OTCQX: GAMI) announced today that Lieutenant Colonel G. Anthony (Tony) Bancroft, USMCR, team leader and portfolio manager of GCAD, will ring the New York Stock Exchange Closing Bell today to commemorate the launch of its fifth ETF.

GCAD focuses on the aerospace and defense sectors, one of Gabelli Funds’ research core competencies. It began trading on the New York Stock Exchange on January 4, 2023, and, following an update to the registration statement, GCAD will trade under the name: “Gabelli Commercial Aerospace & Defense ETF”.

LtCol Bancroft joined Gabelli Funds in 2009 after serving as an F/A-18 Hornet fighter pilot with the United States Marine Corps. Tony graduated with distinction from the United States Naval Academy with a BS in systems engineering and holds an MBA in finance and economics from Columbia Business School.

As with the previous ETFs launched by Gabelli, GAMCO will offer a “loyalty” program under which the first $25 million of the Fund’s assets under management will incur no fees and expenses.

GAMCO Investors, Inc. (OTCQX: GAMI), through its subsidiaries, manages assets of private advisory accounts (GAMCO) and mutual funds and closed-end funds (Gabelli Funds, LLC), and is known for its Private Market Value with a Catalyst™ style of investment. As of September 30, 2022, GAMCO Investors, Inc. had $27.6 billion in assets under management. Further information can be found at www.gabelli.com

About this ETF

The Fund is a non-diversified, open-end management investment company whose primary investment objective is to seek a high level of total return with an emphasis on income. Under normal market conditions, the Fund will invest at least 80%, of its assets in U.S. exchange-listed common and preferred stocks of companies that meet the Fund’s guidelines for aerospace and defense. Your investment in the Fund is not guaranteed and you could lose some or all of the amount you invested. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

Please read the Prospectus, including the Risk Discussion, carefully (when it becomes available) to understand the attributes and risks of this ETF before investing.

This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:

• You may have to pay more money to trade the ETF’s shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
• The price you pay to buy ETF shares on an exchange may not match the value of the ETF’s portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.
• These additional risks may be even greater in bad or uncertain market conditions. The differences between this ETF and other ETFs may also have advantages. By keeping certain information about the ETF secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETF’s performance. If other traders are able to copy or predict the ETF’s investment strategy, however, this may hurt the ETF’s performance. For additional information regarding the unique attributes and risks of the ETF, see the ActiveShares prospectus/registration statement.

You should consider the ETF’s investment objectives, risks, charges and expenses carefully before you invest. The ETF’s Prospectus, which will be available from G.distributors, LLC, a registered broker-dealer and FINRA member firm, will contain this and other information about the ETF, and should be read carefully before investing.

Gabelli Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI)

To obtain a Prospectus (when it becomes available), please visit https://www.gabelli.com/funds/etfs or call:

John Ball
914-921-7728

View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005371/en/

John Ball

Executive Vice President

(914) 921-7728

For further information visit www.gabelli.com/funds/etfs

Source: Gabelli Funds, LLC

FAQ

What is the ticker symbol for Gabelli Funds?

The ticker symbol for Gabelli Funds is OTCQX: GAMI.

When did the Gabelli Commercial Aerospace & Defense ETF start trading?

The Gabelli Commercial Aerospace & Defense ETF (GCAD) began trading on January 4, 2023.

What is the focus of the Gabelli Commercial Aerospace & Defense ETF?

The Gabelli Commercial Aerospace & Defense ETF focuses on the aerospace and defense sectors.

What is the potential risk associated with investing in GCAD?

Investors in GCAD face risks due to limited transparency and the possibility of trading at prices not matching the ETF's portfolio value.

What is the current asset management value for GAMCO Investors?

As of September 30, 2022, GAMCO Investors managed $27.6 billion in assets.