RYE, N.Y.--(BUSINESS WIRE)--Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc. (NYSE: GBL), announced that the Board of Directors of the Gabelli SRI Fund approved a broadened focus on a proactive approach to the environment through the addition of criteria identifying and avoiding publicly traded fossil fuel (coal, oil, and gas) companies.
The Fund was launched in June 2007 with an investment objective to seek capital appreciation through a strategy of investing in companies that act in a socially responsible manner. As the field of SRI has evolved over time, the Fund has evolved as well. The addition of the environmental criteria will allow the Fund to more closely align investor’s interests with the Fund’s SRI objectives. The enhanced screen will take effect June 1, 2015.
The Fund is overseen by Christopher J. Marangi, Kevin V. Dreyer, and Christopher C. Desmarais.
Commenting on the added SRI criteria to the Fund, Mr. Desmarais said, “Around the world, individuals and corporations alike are becoming more concerned with the effect that drilling for natural resources is having on our environment. We share these concerns, and have historically shied away from purely commodity-driven businesses. The addition of the fossil fuel criteria is a natural next step for the Gabelli SRI Fund.”
GAMCO has a nearly 30 year history of socially responsible investing, starting in 1987. GAMCO’s SRI roster now includes foundations, endowments, faith-based organizations and individuals.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The prospectus, which contains more complete information about this and other matters, should be read carefully before investing. To obtain a prospectus, please call 800 GABELLI or visit www.gabelli.com.
The Gabelli SRI Fund is distributed by G. distributors LLC., a registered broker dealer and member of FINRA.