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 pro-active approach to the environment through the addition of criteria identifying and avoiding the 200 largest fossil fuel (coal, oil, and gas) companies based on estimates of the potential CO2 emissions of their reported reserves.
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 May 21, 2015.
The Fund is led by Christopher J. Marangi, Kevin V. Dreyer, and Christopher C. Desmarais.
“Around the world investors are becoming more concerned with the effect that drilling for natural resources is having on our environment. They are also concerned that the threat of climate change will mean that at least some of the oil and gas reserves in the world will never be produced. In managing the Fund, we think about these things as well. Our team of research analysts is not only encouraged to become experts in their fields, but they are also encouraged to be forward looking and to anticipate how their industries are going to evolve over time. The addition of the fossil fuel criteria is a natural extension of how we have already been managing the 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.