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Gabelli Asset Management Inc. (NYSE: GBL) is pleased to announce that Morningstar, Inc. has
awarded its 5-star rating to Gabelli Equity Income Fund, bringing to fifteen the number of
Gabelli Funds that carry a 4- or 5-star rating from the firm and which represents 97% of
Gabelli Mutual Funds' assets that are rated by Morningstar.
Morningstar RatedTM the Gabelli Equity Income Fund 5 stars
overall and for the five-year period ended June 30, 2001. The fund was also rated 4 stars for
the three-year period. The Gabelli Equity Income Fund was rated among 4473 and 2722 domestic
equity funds for the three and five year periods, respectively.
Recent industry trends indicate that more than 90 percent of mutual fund net cash inflows are
invested in 4- or 5-Star funds.
The Gabelli Equity Income Fund, a no-load fund, seeks a high level of total return through
investment in a portfolio of dividend producing equity securities.
Gabelli Asset Management Inc., through its subsidiaries, manages approximately $25 billion in
assets of mutual funds, closed-end funds, partnerships and private advisory accounts.
FORWARD LOOKING INFORMATION
This release may contain forward-looking statements about future operations, results and
performance, which involve risks and uncertainties that may cause the actual operations,
results or performance to differ materially from those expressed in or implied by the
forward-looking statements. These risks and uncertainties include the performance of the
securities markets and the Company's investment products, future economic conditions, changes
in business strategy and other factors. Consequently, no assurance can be given as to future
operations, results or performance, and neither the Company nor any other person assumes
liability for the accuracy and completeness of the forward-looking statements in this press
release.
Past performance does not guarantee future results. The prospectuses
contain more complete information. Please read them carefully before you invest or send money.
Morningstar ratings reflect historical risk adjusted performance as of 6/30/01 and are subject
to change every month. Morningstar proprietary ratings are calculated from the Fund's three,
five and ten-year average annual returns in excess of 90-day T-bill returns with appropriate
fee adjustments and a risk factor that reflects fund performance below 90 day T-bill returns.
The top 10% in a broad asset class receive five stars. Ratings pertain to Class AAA shares
only.
The funds are distributed by Gabelli & Company, Inc., One Corporate Center, Rye, NY 10580
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