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GABELLI MONEY MARKET FUNDS
0000888129
2012-09-30
2013-01-28
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2013-01-28
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<b>Investment Objective </b>
The Fund seeks to provide high current income consistent with the preservation of principal and liquidity.
<b>Fees and Expenses of the Fund: </b>
This table describes the fees and expenses that you may pay if you buy and hold Class AAA Shares of the Fund.
<b>Expense Example </b>
<b>Principal Investment Strategies </b>
<b>Principal Risks </b>
<b>Performance </b>
The bar chart and table that follow provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing the Fund’s average annual returns for one year, five years, and ten years. For current 7 day yield information on the Fund, call 800-GABELLI (800-422-3554). As with all mutual funds, the Fund’s past performance does not predict how the Fund will perform in the future. Updated information on the Fund’s results can be obtained by visting www.gabelli.com.
<b>SUMMARY OF THE FUND</b>
<b>Shareholder Fees </b>(fees paid directly from your investment):
<b>Annual Fund Operating Expenses </b>(expenses that you pay each year as a percentage of the value of your investment):
Under normal market conditions, the Fund invests at least 80% of its net assets in U.S. Treasury obligations, including U.S. Treasury bills, U.S. Treasury notes, U.S. Treasury bonds, and U.S. Treasury strips, which have remaining maturities of 397 days or less. Currently, the Fund invests exclusively in such U.S. Treasury obligations. <br/><br/> The Fund is a money market fund managed to meet the requirements of Rule 2a-7 under the Investment Company Act of 1940 (the “1940 Act”). Within these requirements, the Fund will seek to maintain a net asset value of $1.00 per share. Other requirements pertain to the maturity, liquidity and credit quality of the securities in which the Fund may invest. The Fund will only invest in securities which have, or are deemed to have, a remaining maturity of 397 days or less. Also, the dollar-weighted average maturity for all securities contained in the Fund is required to be sixty days or less. In addition, the Fund will limit its dollar-weighted average life (portfolio maturity measured without reference to any maturity shortening provisions of adjustable rate securities by reference to their interest rate reset date) to 120 days.<br/><br/>The investment manager may consider the following factors when buying and selling securities for the Fund: (i) portfolio liquidity and (ii) redemption requests.<br/><br/><b>You May Want to Invest in the Fund if: </b><ul type="square"><li style="margin-left:20px"> you desire a fund with lower expenses than the average U.S. Treasury money market fund</li><li style="margin-left:20px">you seek stability of principal more than growth of capital or high current income</li><li style="margin-left:20px">you seek income free from state and local taxes</li><li style="margin-left:20px">you intend to exchange into other Gabelli sponsored mutual funds</li></ul>
THE GABELLI U.S. TREASURY MONEY MARKET FUND<br/>(Total Returns for the Years Ended December 31)
Average Annual Total Returns<br/>(For the periods ended December 31, 2012)
During the periods shown in the bar chart, the highest return for a quarter was 1.26% (quarter ended December 31, 2006) and the lowest return for a quarter was 0.00% (quarter ended June 30, 2012).
An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any other government agency.
Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.
The bar chart and table that follow provide an indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year, and by showing the Fund's average annual returns for one year, five years, and ten years.
As with all mutual funds, the Fund's past performance does not predict how the Fund will perform in the future.
www.gabelli.com
This example is intended to help you compare the cost of investing in Class AAA Shares of the Fund with the cost of investing in other mutual funds. <br /><br />The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (taking into account the expense limitation for one year). Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
An investment in the Fund is subject to the risk that the Fund’s yield will decline due to falling interest rates. Other factors may affect the market price and yield of the Fund’s securities, including investor demand and domestic and worldwide economic conditions. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. There is no guarantee that the Fund can achieve its investment objective. <br /><br />Recently, money market funds have experienced significant pressures from shareholder redemptions and historically low yields on securities they can hold. Therefore, it is possible that a money market fund may no longer be able to value its shares at $1.00.
January 31, 2014
0
0
0
0
5.00
0.0008
0.0003
0.0011
-0.0003
0.0008
13
37
64
143
8
32
59
138
0.0083
0.0095
0.0272
0.0474
0.0474
0.0208
0.0022
0.0007
0.0002
0.0002
0.0002
0.0048
0.0162
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-5.00
Class AAA Shares
Return Before Taxes
highest return
2006-12-31
0.0126
lowest return
0
2012-06-30
<b>Investment Objective </b>
The Fund seeks to provide high current income consistent with the preservation of principal and liquidity.
<b>Fees and Expenses of the Fund: </b>
This table describes the fees and expenses that you may pay if you buy and hold Class A or Class C Shares of the Fund.
<b>Expense Example </b>
This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. <br /><br />The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that you pay the maximum contingent deferred sales charge (you had exchanged into the Fund when you were still subject to a deferred sales charge), and that the Fund’s operating expenses remain the same (taking into account the expense limitation for one year). Although your actual costs may be higher or lower, based on these assumptions, your costs would be:<br /><br />
<b>Principal Investment Strategies </b>
<b>Principal Risks </b>
The bar chart and table that follow provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing the Fund’s average annual returns for one year, five years, and ten years. For current 7 day yield information on the Fund, call 800-GABELLI (800-422-3554). As with all mutual funds, the Fund’s past performance does not predict how the Fund will perform in the future. Updated information on the Fund’s results can be obtained by visiting www.gabelli.com.
<b>THE GABELLI U.S. TREASURY MONEY MARKET FUND (Total Returns for the Years Ended December 31) </b>
The bar chart above shows the performance of the Class AAA Shares of the Fund (which are offered in a separate prospectus) for the years ended December 31, 2003, through December 31, 2007, and the period from January 1, 2008, through November 13, 2008; and the performance of the Class A Shares for the period from November 14, 2008, through December 31, 2008, and the years ended December 31, 2009, through December 31, 2012. The historical performance of the Class AAA Shares is used for the periods before the inception of the Class A Shares. Sales loads are not reflected in the above chart. If sales loads were reflected, the Class A performance would be less than those shown.
During the periods shown in the bar chart, the highest return for a quarter was 1.26% (quarter ended December 31, 2006), and the lowest return for a quarter was 0.00% (quarter ended June 30, 2012).
<b>SUMMARY OF THE FUND </b>
<b>Shareholder Fees </b> (fees paid directly from your investment):
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment):
You would pay the following expenses if you did not redeem your shares of the Fund:
Under normal market conditions, the Fund invests at least 80% of its net assets in U.S. Treasury obligations, including U.S. Treasury bills, U.S. Treasury notes, U.S. Treasury bonds, and U.S. Treasury strips, which have remaining maturities of 397 days or less. Currently, the Fund invests exclusively in such U.S. Treasury obligations. <br/><br/> The Fund is a money market fund managed to meet the requirements of Rule 2a-7 under the Investment Company Act of 1940 (the “1940 Act”). Within these requirements, the Fund will seek to maintain a net asset value of $1.00 per share. Other requirements pertain to the maturity, liquidity and credit quality of the securities in which the Fund may invest. The Fund will only invest in securities which have, or are deemed to have, a remaining maturity of 397 days or less. Also, the dollar-weighted average maturity for all securities contained in the Fund is required to be sixty days or less. In addition, the Fund will limit its dollar-weighted average life (portfolio maturity measured without reference to any maturity shortening provisions of adjustable rate securities by reference to their interest rate reset date) to 120 days.<br/><br/>The investment manager may consider the following factors when buying and selling securities for the Fund: (i) portfolio liquidity and (ii) redemption requests.<br/><br/><b>You May Want to Invest in the Fund if: </b><ul type="square"><li style="margin-left:20px"> you desire a fund with lower expenses than the average U.S. Treasury money market fund</li><li style="margin-left:20px">you seek stability of principal more than growth of capital or high current income</li><li style="margin-left:20px">you seek income free from state and local taxes</li><li style="margin-left:20px">you intend to exchange into other Gabelli sponsored mutual funds</li></ul>
An investment in the Fund is subject to the risk that the Fund’s yield will decline due to falling interest rates. Other factors may affect the market price and yield of the Fund’s securities, including investor demand and domestic and worldwide economic conditions. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. There is no guarantee that the Fund can achieve its investment objective. <br/><br/>Recently, money market funds have experienced significant pressures from shareholder redemptions and historically low yields on securities they can hold. Therefore, it is possible that a money market fund may no longer be able to value its shares at $1.00.
<b>Performance </b>
<b>Average Annual Total Returns</b><br/><b>(for the periods ended December 31, 2012)</b>
The returns shown for Class A and Class C Shares prior to their actual inception dates are those of the Class AAA Shares of the Fund (which are offered in a separate prospectus). All Classes of the Fund would have substantially similar annual returns because the shares are invested in the same portfolio of securities and the annual returns would differ only to the extent that the Classes do not have the same expenses.
January 31, 2014
An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any other government agency.
Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.
The bar chart and table that follow provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing the Fund’s average annual returns for one year, five years, and ten years.
As with all mutual funds, the Fund’s past performance does not predict how the Fund will perform in the future.
www.gabelli.com
The bar chart above shows the performance of the Class AAA Shares of the Fund (which are offered in a separate prospectus) for the years ended December 31, 2003, through December 31, 2007, and the period from January 1, 2008, through November 13, 2008; and the performance of the Class A Shares for the period from November 14, 2008, through December 31, 2008, and the years ended December 31, 2009, through December 31, 2012.
Sales loads are not reflected in the above chart. If sales loads were reflected, the Class A performance would be less than those shown.
0
0
0.01
0.01
0
0
0
0
5.00
5.00
0.0008
0.0003
0.0011
-0.0003
0.0008
13
113
37
37
64
64
143
143
8
8
32
32
59
59
138
138
0.0083
0.0095
0.0272
0.0474
0.0474
0.0208
0.0022
0.0007
0.0002
0.0002
0.0002
0.0002
0.0048
0.0048
0.0162
0.0162
Class A Shares (commenced operations on November 14, 2008)
Class C Shares (commenced operations on November 14, 2008)
Return Before Taxes
Return Before Taxes
-5.00
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-5.00
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0.0008
0.0003
0.0011
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0.0008
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You would pay the following expenses if you did not redeem your Class AAA Shares of the Fund:
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800-GABELLI (800-422-3554)
highest return
2006-12-31
0.0126
lowest return
2012-06-30
0
800-GABELLI (800-422-3554)