Gabelli Financial Services Opportunities ETF (GABF) To Convert to Transparent ETF Structure
September 13 2024 - 9:00AM
GAMCO Investors, Inc. (“GAMCO”) (OTCQX: GAMI) announced that
effective September 13, 2024, its actively managed Gabelli
Financial Services Opportunities ETF (NYSE Arca: GABF) will convert
from a “semi-transparent” ETF to a “transparent” ETF and will
disclose its portfolio holdings daily. This is subject to the
registration statement being declared effective by the Securities
and Exchange Commission. From inception through
September 10, 2024, GABF generated a total return of 71.9% and an
annualized return of 26.0%.
Under normal market conditions the Fund invests
at least 80% of the value of its net assets in the securities of
companies principally engaged in the financial services sector.
GABF was launched in May 2022 based on a belief that over the long
term, markets benefit from what Warren Buffett coined the “American
Tailwind.” This growth enabled the U.S. to lead modern global
economies. Financial services institutions remain a key element in
facilitating this prosperity and benefiting from this growth.
The Fund offers a loyalty program under which
the first $25 million invested in GABF will incur no fees or
expenses until at least September 13, 2025.
GABF is managed by Macrae Sykes, who was ranked
#1 investment services analyst by the Wall Street Journal in 2010,
was a runner-up in the annual StarMine analyst awards for stock
picking in 2014 and 2018, and received several honorable mentions
for coverage of brokers and asset managers from Institutional
Investor. In 2018, Mr. Sykes was a contributor to “The Warren
Buffett Shareholder: Stories from inside the Berkshire Hathaway
Annual Meeting” edited by Lawrence Cunningham and Stephanie
Cuba. Mr. Sykes holds a B.A.in economics from Hamilton
College and an M.B.A. in finance from Columbia Business School.
About Gabelli Financial Services Opportunities
ETF
Gabelli Financial Services Opportunities ETF is
a non-diversified, open-end management investment company whose
primary investment objective is to provide capital appreciation.
Under normal market conditions, the Fund invests at least 80% of
the value of its net assets in the securities of companies
principally engaged in the group of industries comprising the
financial services sector.
Financial services companies operate in heavily
regulated industries, which are subject to change. The underlying
securities are subject to credit and interest rate sensitivity
risk, which could impact earnings. Additionally, since financial
services firms are correlated to GDP, a decline in the economic
environment could impact profitability.
Returns represent past performance and do not
guarantee future results. Current performance may be lower or
higher than the performance data quoted. Investment return and
principal value will fluctuate so, upon redemption, shares may be
worth more or less than their original cost. To obtain the most
recent month end performance information and a prospectus, please
call 800-GABELLI or visit www.gabelli.com.
You should consider the ETF’s investment
objectives, risks, charges and expenses carefully before you
invest. The ETF’s Prospectus is available from G.distributors, LLC,
a registered broker-dealer and FINRA member firm, and contains this
and other information about the ETF, and should be read carefully
before investing. To obtain a Prospectus, please visit
https://www.gabelli.com/funds/etfs or call:
John Ball914-921-7728
For Business Inquiries contact |
|
For Media Inquiries contact |
John Ball |
|
Macrae Sykes |
jball@gabelli.com |
|
msykes@gabelli.com |
914-921-7728 |
|
914-921-5398 |
Gabelli Financial Servic... (AMEX:GABF)
Historical Stock Chart
From Nov 2024 to Dec 2024
Gabelli Financial Servic... (AMEX:GABF)
Historical Stock Chart
From Dec 2023 to Dec 2024