RYE, N.Y.--(BUSINESS WIRE)--Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE: GBL) (“GAMCO”), announced today that Gabelli Pet Parents™ (the “Fund”) is now available as a no-load, mutual fund registered under the Investment Company Act of 1940 under the symbol “PETZX.”
Under normal market conditions, the Fund will primarily invest in common shares of publicly traded companies that participate in the global pet economy.
The companion pet market is approximately $72 billion(a) in the United States, $150 billion on a global basis, and is expected to grow mid-to-high single-digits the next several years.
Nearly 68% percent of the 126 million U.S. households have pets, with a concentration in dogs, cats, fresh water fish, birds, and other small animals.
Humanization and innovation are driving “Pet Parents” to increasing allocate discretionary income towards healthier food, diagnostic testing, therapeutics and other services related to care and well-being.
“Gabelli Pet Parents represents the only actively-managed investment strategy specifically participating in the growth of this dynamic market,” says Dan Miller, portfolio manager. “We are delighted to bring a fundamental, research-driven investment approach to the increasing universe of businesses catering to the well-being of our beloved companion pets.”
For more information about investing in the Fund, please contact Justin Cramer at (914) 921-5387.
(a) Source: American Pet Products Association.
GAMCO Investors, Inc., through its subsidiaries, manages private advisory accounts (GAMCO Asset Management Inc.), mutual funds and closed-end funds (Gabelli Funds, LLC).
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. Additional information about the Fund is available by calling 800-GABELLI (800-422-3554) or visiting www.gabelli.com.