Gabelli Funds, LLC Completes the Offering of The Gabelli Merger Plus+ Trust, a London Stock Exchange Listed Investment Trust

Gabelli Funds, LLC Completes the Offering of The Gabelli Merger Plus+ Trust, a London Stock Exchange Listed Investment Trust

Businesswire, July 19, 2017

GAMCO Asset Management (UK) Limited, an affiliate of GAMCO Investors, Inc., (NYSE:GBL) announced it has completed the offering of a London Stock Exchange listed investment company, The Gabelli Merger Plus+ Trust, a U.K. PLC. (the “Company”), to invest in global mergers and acquisitions.

The successful global offering raised over $100 million and will trade in London in U.S. dollars under the symbol GMP.

Commenting on the launch, Marc Gabelli, Chairman of Gabelli Merger Plus+ Trust, stated, “I am delighted to be involved with this new launch which brings Gabelli’s distinct investment approach to the UK in the form of an investment trust. It will provide the UK investment community with an actively managed fund investing in companies engaged in announced global merger activity.”

GMP will provide non-U.S. investors direct access to Gabelli’s specialized merger arbitrage strategy, a recognized leader in the U.S.

The Company is focused on a total return objective, emphasizing non-market correlated merger investing. Gabelli Funds believes there is a compelling opportunity for investment in merger arbitrage; merger arbitrage returns, while non-market correlated, have historically been less volatile than the returns of the stock market as a whole.

“The investment focus emphasizes strategic cash transactions with strong fundamentals which often positions our portfolio in unique franchises that can potentially be subject to overbids. Our goal is to offer shareholders the advantages of merger investing utilizing the strengths of the closed ended structure. The portfolio will actively gear.” said Ralph Rocco, one of the lead members of the portfolio management team.

“The U.K. market is highly sophisticated. We are delighted to be entrusted with the opportunity to grow wealth for the investor via the strengths of this investment trust vehicle. The investment trust industry can trace its foundations to the U.K., and the LSE’s offering remains a “best in class” choice for the closed ended structure globally,” furthered Marc Gabelli.

The Gabelli organization through its affiliated subsidiaries, manages private advisory accounts (GAMCO Asset Management Inc.), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Gabelli & Company Investment Advisers, Inc.). This IPO marks the firm’s second listed Investment trust on the London Stock Exchange, and sixteenth stock exchange listed Investment Company globally. The Gabelli organization has operated from central London for 17 years assisting its New York headquarters in global investment idea generation.


This press release is not an offer to sell or the solicitation of an offer to buy any securities.



Our disclosure and analysis in this press release may contain some forward-looking statements. Forward looking statements give our current expectations or forecasts of future events. In particular, these include statements relating to future actions, future performance and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, there can be no assurance that our actual results will not differ materially from what we expect or believe.”). Copies of the Prospectus will, following publication, be available for non-US investors only from the Company’s registered office.

Important Notice

The contents of this announcement, which has been prepared by and is the sole responsibility of GAMCO Asset Management (UK) Limited, have been approved by GAMCO Asset Management (UK) Limited solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 (as amended).

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may or should be placed by any person for any purpose whatsoever on the information contained in this announcement or on its completeness, accuracy or fairness. The information in this announcement is subject to change.

This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor. The placing of the shares and the distribution of this announcement and other information in connection with placement and this announcement in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

In particular, neither this announcement, the publication in which it is contained nor any copy of it may be made or transmitted in to the United States of America (including its territories or possessions, any state of the United States of America and the District of Columbia) (the “United States”) and this announcement does not constitute an offer for sale of, or a solicitation to purchase or subscribe for any securities in the United States. The securities referred to herein have not been and will not be registered under the applicable securities laws of the United States and, subject to certain exceptions, may not be offered or sold within the United States. There will be no public offering of the securities in the United States. Neither this announcement, the publication in which it is contained nor any copy of it may be taken, transmitted or distributed, directly or indirectly, into Canada, Japan, Australia or South Africa or to any persons in any of those jurisdictions or any other jurisdictions where to do so would constitute a violation of the relevant laws of such jurisdiction.