Statement of Additional Info - Gabelli

standing Compensation Committee (although some of the individuals who are Trustees of the Funds participate in multifund
ad hoc Compensation Committees described above).
The Trust’s Audit Committee consists of four members: Messrs. Colavita (Chairman), Conn, Roeder, and Zizza, who are
Independent Trustees. The Audit Committee operates pursuant to a Charter that was most recently reviewed and
approved by the Board on November 19, 2013. As set forth in the Charter, the function of the Audit Committee is
oversight; it is management’s responsibility to maintain appropriate systems for accounting and internal control and it is
the independent registered public accounting firm’s responsibility to plan and carry out a proper audit. The Audit
Committee is generally responsible for reviewing and evaluating issues related to the accounting and financial reporting
policies and practices of the Trust, its internal controls, and as appropriate, the internal controls of certain service
providers, overseeing the quality and objectivity of the Trust’s financial statements and the audit thereof and to act as a
liaison between the Board and the Trust’s independent registered public accounting firm. During the fiscal year ended
September 30, 2013, the Audit Committee met twice.
The Trust's Nominating Committee consists of three members: Messrs. Colavita (Chairman), Conn, and Roeder, who are
Independent Trustees of the Trust. The Nominating Committee is responsible for selecting and recommending qualified
candidates to the full Board in the event that a position is vacated or created. The Nominating Committee would
consider, under procedures adopted by the Board, recommendations by shareholders if a vacancy were to exist. Such
recommendations should be forwarded to the Secretary of the Trust. The Nominating Committee did not meet during the
fiscal year ended September 30, 2013.
The ad hoc Proxy Voting Committee consists of three members: Messrs. Colavita, Conn (Chairman), and Roeder, who
are Independent Trustees of the Trust. Under certain circumstances and pursuant to specific procedures and guidelines,
the ad hoc Proxy Voting Committee will, in place of the Adviser, exercise complete control and discretion over the
exercise of all rights to vote or consent with respect to certain securities owned by the Funds and may also determine to
exercise complete control and discretion over the disposition of such securities. The ad hoc Proxy Voting Committee
meets periodically on an as needed basis to consider such matters and did not meet during the fiscal year ended
September 30, 2013.
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