Gabelli Funds to Launch Third ETF – The Gabelli Asset ETF (GAST)

Rhea-AI Summary

GAMCO Investors (NYSE: GBL) is set to launch the Gabelli Asset ETF (NYSE: GAST) on January 3, 2022. This team-managed fund aims for capital appreciation by investing in firms involved in automation, robotics, and related technologies. Notably, the first $25 million in assets will incur no fees. The investment team includes experienced professionals like Brett Kearney, Justin Bergner, and Hendi Susanto. The ETF will provide limited information to traders, which could impact pricing. As of September 30, 2021, GAMCO managed $33.5 billion in assets.

Positive

• Launch of Gabelli Asset ETF (GAST) targeting automation sector.
• No fees for the first $25 million in assets under management.
• Experienced investment team with a diverse background in financial markets.
• Potential for capital appreciation through investments in automation and robotics.

Negative

• Limited information provided to traders may lead to pricing discrepancies.
• Investors could face risks due to secretive asset management approach.

A Fund Focused on Beneficiaries of Automation

GREENWICH, Conn.--(BUSINESS WIRE)-- GAMCO Investors, Inc. (“GAMCO”) (NYSE: GBL) announced today that it will launch the Gabelli Asset ETF (NYSE: GAST), on or about January 3, 2022. This team-managed fund, like its predecessor, Love Our Planet and People, will not incur any fees or expenses for the first $25 million of the Fund’s assets under management.

GAST’s investment objective is to achieve capital appreciation. The fund will seek to identify and invest in leading firms that design, develop, support, or manufacture automation equipment, related technology, software or processes, and firms that use these to automate and increase productivity in their own businesses. These include industrial and service automation, robotics, artificial intelligence, autonomous driving, and related equipment and software. In pursuing the investment theme, the Fund may invest in firms in any economic sector and in any geographic region. The fund evaluates the entire ecosystem of components and technology providers that support the reshaping and upgrading of global production networks and that address tight labor markets and productivity challenges worldwide.

Leading the investment team of GAST is Brett Kearney, CFA who joined the firm in 2017. Brett graduated cum laude with a BS in business administration from Washington and Lee University and holds an MBA from Columbia Business School, where he participated in the school’s Value Investing Program. Brett has over a decade of investment management experience having worked as an analyst at Schultze Asset Management, Fidus Mezzanine Capital, and the Bond & Corporate Finance Group of John Hancock Financial Services.

Also on the team is veteran portfolio manager and analyst, Justin Bergner, CFA, who originally joined the firm in 2005 as a metals and mining analyst, and for the last eight plus years has focused his efforts as industrial analyst following a number of broadly diversified firms. Mr. Bergner received an MBA in Finance and Accounting from the Wharton School at the University of Pennsylvania and graduated cum laude from Yale University with a BA in Economics & Mathematics.

Rounding out the team is Hendi Susanto who joined Gabelli Funds in 2007 and specializes in the broad technology sector including software, hardware, cyber security, and semiconductors. Mr. Susanto holds an MBA in finance from the Wharton School, and an MS from MIT after graduating summa cum laude with a BS from the University of Minnesota.

GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages assets of private advisory accounts (GAMCO Asset Management ) 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, 2021, GAMCO Investors, Inc. had $33.5 billion in assets under management. Further information can be found at www.gabelli.com

About Gabelli Asset ETF

Gabelli Asset ETF is a diversified, open-end management investment company whose primary investment objective is to seek capital appreciation. 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 automation. 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. (NYSE:GBL).

This ETF is not yet available to purchase, and this is not a solicitation to purchase a security. 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. (NYSE:GBL)

To obtain a Prospectus, 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/20211231005013/en/

John Ball

Senior Vice President

(914) 921-7728



For further information visit

www.gabelli.com/funds/etfs

Source: Gabelli Funds

FAQ

What is the Gabelli Asset ETF (GAST)?

The Gabelli Asset ETF (GAST) is a fund focusing on capital appreciation by investing in automation and robotics firms.

When will the Gabelli Asset ETF be available?

The Gabelli Asset ETF (GAST) is set to launch on January 3, 2022.

What is the investment strategy of GAST?

GAST aims to invest in companies that design and manufacture automation technologies and equipment.

What are the fees associated with the Gabelli Asset ETF?

There will be no fees for the first $25 million of the Fund’s assets under management.

Who is managing the Gabelli Asset ETF?

The ETF is managed by a team led by Brett Kearney, with significant industry experience.

What are the potential risks of investing in GAST?

Investors may face pricing discrepancies due to limited information provided by the ETF.

How much does GAMCO manage in assets?

As of September 30, 2021, GAMCO managed $33.5 billion in assets.