https://www.sec.gov/Archives/edgar/data/63210/000119312518199483/d770939d497.htm
497 1 d770939d497.htm THE GAMCO MATHERS FUND
Filed Pursuant to Rule 497(e)
Registration No. 002-23727
The GAMCO Mathers Fund (the “Fund”)
Supplement dated June 21, 2018 to
the Class AAA Summary Prospectus and Prospectus dated April 30, 2018 (the “Prospectus”)
The Board of Trustees of the Fund has approved a Plan of Liquidation for the Fund, pursuant to which the Fund will be liquidated (the “Liquidation”) on or about August 31, 2018 (“Liquidation Date”). This date may be changed without notice at the discretion of the Fund’s officers. All capitalized terms used but not defined in this Supplement shall have the meanings ascribed to such terms in the registration statement.
Suspension of Sales. Effective the close of business on June 20, 2018, the Fund will no longer sell shares to new investors or existing shareholders, including through exchanges into the Fund from other funds in the Fund Complex.
Mechanics. In connection with the Liquidation, any shares of the Fund outstanding on the Liquidation Date will be automatically redeemed as of the close of business on the Liquidation Date. The proceeds of any such redemption will be equal to the net asset value of such shares after the Fund has paid or provided for all of its charges, taxes, expenses and liabilities. The distribution to shareholders of these liquidation proceeds will occur as soon as practicable, and will be made to all shareholders of the Fund of record at the time of the Liquidation. Additionally, the Fund must declare and distribute to shareholders any realized capital gains and all net investment income no later than the final Liquidation distribution.
Other Alternatives. At any time prior to the Liquidation Date, shareholders of the Fund may redeem their shares of the Fund and receive the net asset value thereof, pursuant to the procedures set forth under “Redemption of Shares” in the Prospectus. Shareholders may also exchange their Fund shares for shares of the same class of other funds in the Fund Complex.
U.S. Federal Income Tax Matters. For tax purposes, with respect to shares held in a taxable account, the automatic redemption of shares of the Fund on the Liquidation Date will generally be treated as any other redemption of shares (i.e., as a sale that may result in gain or loss for federal income tax purposes). Instead of waiting until the Liquidation Date, a shareholder may voluntarily redeem his or her shares prior to the Liquidation Date to the extent that the shareholder wishes to realize any such gains or losses prior thereto. See “Tax Information” in the Prospectus. Shareholders should consult their tax advisors regarding the tax treatment of the Liquidation.
If you have any questions regarding the Liquidation, please contact the Fund at 1-800-GABELLI (1-800-422-3554).
Please retain this Supplement with your Summary Prospectus and Prospectus for future reference.

@Lewis: Just for you !
P.S. Nothing illegal was done since MFO or myself profited from the link. Get off this intellectual property BS. In the over 50,000 links here at MFO and FundAlarm you are the only one to ever complain.
Regards,
Ted
https://www.google.com/search?q=pirate&tbm=isch&source=iu&ictx=1&fir=exYjYsanUvbNJM%3A%2CXStyrt0GGOrraM%2C_&usg=__eBQiWr5nC3qRuVuRAfnhj8jj55k=&sa=X&ved=0ahUKEwjPu--0lOXbAhVEITQIHfMEDC4Q_h0IxwEwDg#imgrc=exYjYsanUvbNJM:

The original non-pirated story: https://barrons.com/articles/this-junk-bond-fund-shines-bright-1529585687

FYI: Diamond Hill Corporate Credit, managed by Bill Zox and John McClain, takes a more conservative approach to a riskier asset class.
Regards,
Ted
http://www.cetusnews.com/business/This-Junk-Bond-Fund-Shines-Bright.SksmXmFbm.html
M* Snapshot DSIAX:
https://www.morningstar.com/funds/XNAS/DSIAX/quote.html
Lipper Snapshot DSIAX:
https://www.marketwatch.com/investing/fund/dsiax
DSIAX Ranks #5 In The (HYB) Fund Category By U.S. News & World Report:
https://money.usnews.com/funds/mutual-funds/high-yield-bond/diamond-hill-corporate-credit-fund/dsiax

Many sectors globally, after a big run in January; and then the market twitch at the end of the month finds most areas at the very best, no better than a sideways move.
--- Asia, Europe, U.S. equity, many continue in a "down" trend and negative YTD
--- U.S. utils, real estate and consumer staples trying to establish an "up" trend the past 2 days
--- Investment grade bonds attempting to establish a continued "up" in pricing (meaning yields down).
Well, just my humble, inflation adjusted observation.
Our house remains 50% U.S. equity oriented, with the majority in tech. and health; and 50% money market cash.
Good fortune to your particular holdings.
Catch

FYI: As mutual fund managers face increasing calls to cut their fees, they're asking no-transaction-fee platform providers such as Schwab and Fidelity to cut theirs as well — or at least figure out a way to let investors know what part of their expense ratios go toward distribution.
Regards,
Ted
https://www.google.com/search?source=hp&ei=c24rW4CoOOq3jwT7xrroCQ&q=Mutual+Funds+Feel+The+Pinch+Of+Platform+Fees&oq=Mutual+Funds+Feel+The+Pinch+Of+Platform+Fees&gs_l=psy-ab.3...2760.2760.0.3774.3.2.0.0.0.0.80.80.1.2.0....0...1.2.64.psy-ab..1.1.72.6..35i39k1.72.UXLckIxdJC4

FYI: Not so long ago, one cash investment seemed virtually indistinguishable from the next. With the Fed funds rate barely positive as recently as late 2016, most investors considered their low-yielding CDs and money market funds dead money--a necessary parking place for near-term expenditures, or a place to hunker down if they were feeling fearful. Nothing more.
Regards,
Ted
https://www.morningstar.com/articles/870185/wheres-the-best-place-to-park-your-cash.html

FYI: Billionaire PIMCO founder Bill Gross allegedly used dead fish and prank smell sprays to make his ex-wife's life miserable following their divorce.
Regards,
Ted
http://markets.businessinsider.com/news/stocks/billionaire-bill-gross-ex-wife-says-he-tormented-her-with-dead-fish-after-divorce-2018-6-1027173885

Yikes! A 6 year corporate bond with 9%+ YTM? Great interest, so long as they pay it. Good luck getting your principal back. At 24%+ YTC, I wouldn't count on it getting called soon.
The cbonds page cites Goldwasser (Brussels) as the source for price quotes. Here's Goldwasser's page (translated via google) for the bond (give it about a minute to load):
https://translate.google.com/translate?hl=en&sl=nl&u=https://www.oblis.be/nl/bond/hertz-corp-55-15102024-usd-538502
According to both the cbonds page and Goldwasser, it's currently trading around 83 (100 is "par" for bonds). Did I mention that any gain you might realize due to the market discount is taxed as ordinary income?

Are hertz Corp bond have good place as a private div player
http://cbonds.com/emissions/issue/250145

I’ve also shifted 10% of the total assets in our 401K plans into the stable value fund. It’s currently yielding about 2% and it’s been rising. It has actually outperformed the bond index fund in our 401K plan over the past 1,3 and 5 years. If you have a 401K, this is a great option during the current market.

An update to above CD post- First Republic Bank in SF now has 10 month @2% and 20 month @2.5%. So things are starting to move.
FWIW, I'm guessing that they are looking at 3 to 3.5% in 20 months.
ADD: Current @ 4:45 PDST, from the WSJ:

Powell Says Solid Economy Supports More Fed Rate Rises
"Fed Chairman Jerome Powell said economic growth has built a strong case for continuing to lift interest rates"

@Tarwheel- Yes, same here. I've started with a 13 month @ 2% and intend to keep adding every .5% or so.

Sven - or you can look at different Funds that you prefer, look at their top 5 -10 holdings, and buy the individual bonds there...most of them hold these bonds for quite sometimes. The other options are to look at corp cusip [something that you like], do google search on them, read the annual reports, search if they have history of bankrupcy, and consider buying them. I usually buy the one that have multiple large companies that hold them. You cannot go wrong w/ ATT corp bonds, MACYS, chevron bonds, etc... They survived the last crash and probably will survive next one. I just don't like to pay the 1-2% yearly fees for these funds.
Or just get ETFs bonds [from PIMCO for instance] they may have similiar returns to their funds and minimal fees.

@STB65, I would stay with FFRHX in the near term. Floating rate funds are high yield bond funds (aka junk bonds), but they tend to do better than corporate, mortgage and treasury bond funds in rising rate environment. Don't know how the transfer from Fidelity into Vanguard would be like. I would recommend you talk with your administrator (university) on the options available. If you decide to rollover your 403(B) into Vanguard as brokerage or other firms, the brokerages have many fund choices besides the one you have now.

@catch22, Just about all foreign funds and bonds are down for the year. The US large cap funds are up 3-5% while the smaller caps have done better, presumably their business are more domestically oriented and less impacted by the tariff. At some point, the tariff impact will spread to all supply chain even the smallest caps. This is going to be a tough year.

FYI: The US Dollar index is now up 7.4% since its 2018 closing low hit on February 15th. This morning we just wanted to provide a heads up that the Dollar is breaking above another key resistance level at 95. The index had couldn’t break through 95 last October/November, and it failed once again at 95 at the end of May. The break above resistance at 95 this morning clears out additional supply and provides room to run towards 97 in the near term.
Remember, dollar strength benefits companies that generate most or all of their revenues domestically, while it hurts large-cap companies that generate large portions of their sales outside of the US. This is a key reason why the small-cap space has been outperforming over the last few months — small-caps are much more “domestic” in nature versus large-cap, global behemoths.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/us-dollar-breaking-above-another-key-resistance-level/

FYI: Most millennials can’t answer simple financial questions correctly, according to a new nationwide survey. Only 17 percent of working Americans ages 25-40 could answer five basic financial literacy questions from Massachusetts Mutual Life Insurance Co. (MassMutual) Foundation’s FutureSmart Digital program correctly, according to the report. The questions were on topics including credit scores, compound interest and investing.
Regards,
Ted
https://www.fa-mag.com/news/millennials-lack-basic-financial-knowledge--massmutual-finds-39299.html?print

The situation is escalating as investors are pulling money from EM ETFs that have over 30% exposure to China. See Ted's earlier post.
https://mutualfundobserver.com/discuss/discussion/41758/investors-are-bailing-from-emerging-market-etfs#latest

Very busy at this house; but take a bit of time to catch this or that for the markets.
The tariff wars (pending or otherwise) are receiving the threats from other countries; as in, "okay, slam a tariff; we'll play the game" and await you "crying uncle".
So, we have Canada, Mexico, EU, India and China as the major announcers OF "tariffs to you", too.
SP-500, to use as a U.S. gauge, is so-so YTD; and one knows a lot of this gain is from the better performing sectors, tech., health, con. discretionary...............so, if these areas start to go to heck; well others suffer, too.
One finds the global today (June 18) not being very happy, not a trend yet, eh?
https://www.barchart.com/etfs-funds/etf-monitor?orderBy=percentChange&orderDir=desc
I'll provide a flash back from 10 years ago (June 16, 2008, Monday).
Our portfolio had its high value point on Oct. 31, 2007 (Halloween Day). International holdings had begun to become more erratic, but most U.S. equity was still fairly happy.
News, data and related going into the end of 2007, especially in Dec. 2007 kept my attention. We watched an erratic equity market for another 6 months; along with the news and data. December of 2007 had very large swings in daily equity.
On June 16, 2008, Monday; we sold 87% of our portfolio.
An existing bond fund holding was kept in place, PTTRX . The equity sells monies were moved into either "stable value" or money market, depending upon the choices at the time. During this period, both stable value and MM were yielding about 5% APR.
With a smile and a head shake I thought about the date this past weekend and being 10 years out from June, 2008.
Currently, we're 51% equity, 95% which is U.S.; all being in tech. and healthcare.
We'll be watching this week more so, as time allows.
Good fortune to all,
Catch