Statement of Additional Info - Gabelli

Trustee and Officer Compensation
All of the Trustees were elected at a meeting of shareholders held on September 30, 1994, except Mr. Zizza, who was
elected by the Board and began serving on the Board on February 24, 2004. Ordinarily, there will be no further meetings
of shareholders for the purpose of electing Trustees unless and until such time as less than a majority of the Trustees
holding office have been elected by shareholders, at which time the Trustees then in office will call a shareholders'
meeting for the election of Trustees. Under the 1940 Act, shareholders of record of not less than two-thirds of the Trust’s
outstanding shares may remove a Trustee through a declaration in writing or by vote cast in person or by proxy at a
meeting called for that purpose. In accordance with the 1940 Act and the Trust's Amended and Restated Declaration of
Trust, the Trustees are required to call a meeting of shareholders for the purpose of voting upon the question of removal
of any such Trustee when requested in writing to do so by the shareholders of record of not less than 10% of the Trust's
outstanding shares.
The Trust does not pay any remuneration to its officers and Trustees other than fees and expenses to Trustees who are not
affiliated with the Adviser, Sub-Adviser or G.distributors, LLC. (the "Distributor” or “G.distributors”). Each Trustee is
paid an annual fee of $9,000 and $2,000 for each meeting attended in person and by telephone, including Committee
meetings. The Lead Independent Trustee receives an additional $2,000 per annum.
COMPENSATION TABLE
Aggregate Compensation
from Registrant
(Fiscal Year)
The following table sets forth certain information regarding the compensation of the Trust’s Trustees. No executive
officer or person affiliated with the Trust received compensation in excess of $60,000 from the Trust for the fiscal year
ended September 30, 2013.
Name of Person and
Position
Aggregate Compensation From
the Funds
Aggregate
Compensation
From the Trust and
Fund Complex*
Anthony J. Colavita
Trustee $22,000 $399,500 (35)
James P. Conn
Trustee $19,000 $225,500 (18)
Werner J. Roeder
Trustee $19,000 $188,500 (23)
Salvatore J. Zizza
Trustee 21,000 $325,000 (29)
Code of Ethics
* Represents the total compensation paid to such persons for the calendar year ended December 31, 2013. The parenthetical
number represents the number of investment companies (including the Funds or portfolios thereof) from which such person
receives compensation and which are considered part of the same “fund complex” as the Trust because they have common or
affiliated investment advisers.
The Trust, its Adviser, its Sub-Adviser and Distributor have adopted codes of ethics (the “Codes of Ethics”) under Rule
17j-1 of the 1940 Act. The Codes of Ethics permit personnel, subject to the Codes of Ethics and their restrictive
provisions, to invest in securities, including securities that may be purchased or held by the Trust.
Proxy Voting Policies
The Adviser
The Trust, on behalf of the Mighty Mites Fund, SmallCap Equity Fund, Mid-Cap Equity Fund, and Income Fund, has
delegated the voting of portfolio securities to the Adviser. The Adviser has adopted proxy voting policies and procedures
(the “Proxy Voting Policy”) for the voting of proxies on behalf of client accounts for which the Adviser has voting
discretion, including the Funds. Under the Proxy Voting Policy, portfolio securities held by the Funds are to be voted in
30