GAMCO International SICAV (Luxembourg), managed by Gabelli Funds, has launched a new sub-fund, GAMCO Convertible Securities.GAMCO Convertible Securities’ objective is to seek to provide current income as well as long term capital appreciation through a total return strategy by investing in a diversified portfolio of global convertible securities.
The Fund leverages the firm’s history of investing in dedicated convertible security portfolios since 1979. Multiple share classes will be available at launch and are tailored for Global institutional investors as well as select non-US retail investors. At the onset, the Fund will launch with an institutional founder’s class at a reduced fee.
Michael Gabelli, Managing Director and Director of Global Business Development for Gabelli, says: “The GAMCO Convertible Securities fund offers investors access to one of Gabelli’s core strategies within a UCITS compliant structure, providing daily liquidity via accumulating share classes and a distributing class. We are excited to bring an actively managed fund to the European and Global marketplace that will be dedicated to global convertible securities while factoring in ESG guidelines.”
Thomas Dinsmore, Co-Portfolio Manager, says: “We are delighted to apply our combined 60+ years of convertible portfolio management experience to this new offering affording investors across the globe access to our active approach to converts. The convertible markets continue to provide a strong flow of new issuances as well as attractive investment opportunities.”