The Gabelli Focused Growth And Income Fund Class AAA

This fund's primary objective is to achieve significant capital appreciation. Typically, it invests in a select, concentrated portfolio of 25 to 35 equity securities. Up to half of its total net assets may be allocated to just five holdings, representing its largest and most confident investment choices. Any net assets not invested in these equities will be held in high-quality, short-term instruments, including cash or its equivalents. The fund operates on a non-diversified basis.