EXHIBIT D(I)
                                                                    ------------
                             AMENDMENT NO. 1 TO THE
                          INVESTMENT ADVISORY AGREEMENT

         This  Amendment  No. 1 dated as of November 17, 1999 is entered into by
Gabelli Funds,  LLC (formerly known as Gabelli Funds,  Inc.) (the "Adviser") and
Gabelli  Global Series Funds,  Inc.  (the  "Company"),  on behalf of The Gabelli
Global Telecommunications Fund, The Gabelli Global Entertainment and Media Fund,
and The Gabelli Global  Opportunity  Fund (formerly  known as The Gabelli Growth
Fund).

         WHEREAS,  the  Adviser  and the  Company  entered  into  an  Investment
Advisory  Agreement  dated as of September  23, 1993 (the  "Investment  Advisory
Agreement"); and

         WHEREAS,  the  Adviser  and the  Company  wish to amend the  Investment
Advisory Agreement to reflect the change in the Adviser's name;

         NOW,  THEREFORE,  the parties  hereto,  intending  to be legally  bound
hereby, hereby agree as follows:

1. The name "Gabelli Funds, Inc." in the Investment Advisory Agreement is hereby
deleted  in all places  where it appears  and  replaced  with the name  "Gabelli
Funds, LLC."

2. The Investment  Advisory  Agreement  shall remain in full force and effect in
all other respects.

         IN WITNESS WHEREOF,  the undersigned have executed this Amendment No. 1
as of the date and year first written above.

GABELLI GLOBAL SERIES FUNDS, INC.

By: /S/ BRUCE ALPERT
    ----------------
Bruce N. Alpert

GABELLI FUNDS, LLC

By: /S/ JAMES E. MCKEE
    ------------------
James E. McKee