Gabelli U.S. Treasury MMF – State and Local Tax Free

Rhea-AI Summary

The Gabelli U.S. Money Market Fund focuses on maximizing current income while ensuring liquidity and principal safety. The Fund exclusively invests in U.S. Treasury securities such as bills and notes, which are exempt from state and local income taxes, although federal taxes apply. Importantly, the Fund does not invest in repurchase agreements, distinguishing it from other money market funds. Investments in the Fund are not insured by the Federal Deposit Insurance Corporation, and while it aims to maintain a $1.00 share value, there is a risk of loss. Investors are advised to review the Fund's prospectus for detailed information.

Positive

• Exempt from state and local taxes on income dividends.
• Invests solely in U.S. Treasury securities, enhancing safety.

Negative

• Investment is not guaranteed or insured by federal agencies.
• Potential for loss despite aim to maintain $1.00 per share.

RYE, N.Y.--(BUSINESS WIRE)-- The Gabelli U.S. Money Market Fund (the “Fund”) aims to provide the highest possible level of current income while still maintaining liquidity and providing maximum safety of principal.

To pursue its goal, the Fund solely invests in U.S. Treasury securities, including Treasury bills and notes, which carry different interest rates, maturities, and issue dates. By investing exclusively in full faith and credit U.S. government investments, the Fund seeks to provide maximum safety as to its assets.

The Fund is distinct from certain other types of government money market funds in that it does not invest in repurchase agreements. Because the income from U.S. Treasury securities is exempt from state and local income taxes, all of the income dividends the Fund pays will be exempt from state and local taxes as well. (Dividends still will be subject to federal income tax.)

Investment in the Fund is neither guaranteed nor insured by the Federal Deposit Insurance Corporation or any government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

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

Distributed by G.distributors, LLC, a registered broker dealer and member of FINRA.

The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005718/en/

Judith Raneri, Portfolio Manager

(914) 921-5417

Ronald Eaker, Portfolio Manager

(914) 921-5413

Source: The Gabelli U.S. Money Market Fund

FAQ

What is the Gabelli U.S. Money Market Fund's investment strategy?

The Gabelli U.S. Money Market Fund focuses on providing high current income through exclusive investments in U.S. Treasury securities.

Is the income from Gabelli U.S. Money Market Fund exempt from taxes?

Yes, income from U.S. Treasury securities is exempt from state and local income taxes.

What risks are associated with investing in the Gabelli U.S. Money Market Fund?

Investments are not insured by the Federal Deposit Insurance Corporation, and there is a risk of losing money.

Who manages the Gabelli U.S. Money Market Fund?

The Fund is managed by Gabelli Funds, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

What should investors consider before investing in the Fund?

Investors should carefully review the investment objectives, risks, charges, and expenses outlined in the Fund's prospectus.