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Gabelli Funds launches merger arbitrage UCITS.

GAMCO Investors said that its advisor subsidiary, Gabelli Funds has launched GAMCO Merger Arbitrage, a sub-fund within the GAMCO International SICAV. This sub-fund will provide non-US investors with direct access to GAMCO's merger arbitrage strategy in a UCITS form.

The second sub-fund within the firm's Luxembourg based SICAV, GAMCO Merger Arbitrage will be offered outside of the US to institutional and retail investors and will initially register retail shares in Switzerland, Germany, and Italy.

Currency classes offered include US dollar, Swiss franc, and euro. The firm has been running merger arbitrage portfolios since 1985.

The Advisory Board of the SICAV consists of Karl Otto Pohl, former President of the German Bundesbank from 1980 to 1991, as well as Mario D'Urso, former Senator and Under Secretary of State of the Ministry of Commerce with the Exterior for the Republic of Italy. The Board of Directors includes John Birch, COO of Sentinel Asset Management; Anthonie van Ekris, Chairman of Balmac International Inc; and Oliver Stahel, Chairman of Viafina AG.

The Administrator and Custodian is J.P. Morgan Bank Luxembourg and the Auditor is Deloitte. The sub-fund will provide daily liquidity and has an annual management fee of one per cent for institutional investors and 1.5 per cent for the retail share class. The performance fee is 20 per cent and is subject to a high water mark. MDO Management Company serves as the Management Company.

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Publication:CPI Financial
Date:Nov 23, 2011
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