GAMCO Investors, Inc. (NYSE:GBL) has announced that veteran portfolio manager Gordon D. Grender joined the portfolio management team of The Gabelli Small Cap Growth Fund. Mr. Grender is based in the firm’s London office.
"Gordon brings a wealth of investment experience to the GAMCO team," said Mario Gabelli, Chairman of GAMCO. "I have known Gordon dating back to the late 1980’s when then Chairman of GAM, Gilbert de Botton, launched the GAM Restructuring Fund on October 20, 1987. We have long talked about working together over the years and are delighted to have finally sealed the relationship."
Mr. Grender has been actively involved as a North American fund manager since 1974, and is regarded as an out and out value investor, prone to be contrarian and has ‘unrivalled knowledge’ of North American smaller companies. Most recently, Gordon was the portfolio manager for a US Equity Fund at GAM International Management Ltd. ("GAM"), a Swiss based global asset management firm. At GAM, Gordon was the firm’s longest serving portfolio manager, having been hand selected by GAM’s founder Mr. Gilbert de Botton at GAM’s founding in 1983. Mr. Grender also is the chairman of the Jupiter US Smaller Companies PLC. (LSE: JUS), a London Stock Exchange listed investment trust.
"I am delighted to have this opportunity to work with Mario Gabelli," commented Mr. Grender. "I first met Mario through GAM and am very excited about joining a company which has been very successful over many years. My principal objective, dating back to 1964 when I started in this industry, is to generate absolute returns for investors. My fundamental view is that it is important to be active and visit with small and midsize companies regularly - some of my best ideas surfaced from talking to managements about their industries."
John Ball, Chief Operating Officer of Gabelli Funds, said, "The firm will benefit from Gordon’s extensive portfolio experience across a broad spectrum of industries and asset classes. We look forward to his contributions to the portfolio management team."
Mr. Ball added, "We at Gabelli are active, bottom up, value investors, and seek to achieve real capital appreciation (relative to inflation) over the long term regardless of market cycles. We achieve returns by investing in businesses utilizing our proprietary Private Market Value ("PMV") with a Catalyst™ methodology. PMV is the value that we believe an informed buyer would be willing to pay to acquire an entire company in a private transaction. Our team arrives at a PMV valuation by a rigorous assessment of fundamentals from publicly available information and judgment gained from our comprehensive, accumulated knowledge of a variety of sectors. We focus on the balance sheet, earnings, free cash flow, and the management of prospective companies. We are not index benchmarked and construct portfolios agnostic of market capitalization and index weightings. We have invested this way since 1976."
Gabelli has operated an equity research office in central London for more than twenty years under its division GAMCO UK. The firm is a known innovator in the field of closed-end funds, dating back to the initial public offering of the Gabelli Equity Trust in August 1986. The firm’s three Luxembourg UCITS offerings provide investors outside of the U.S. with direct access to GAMCO’s proprietary Private Market Value with a Catalyst™ stock selection process. GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC), and is known for its Private Market Value with a Catalyst™ style of investment.
Investors should consider the Funds’ investment objectives, risks, charges, and expenses carefully before investing.
The Fund are managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).
About GAMCO Investors
GAMCO Investors, Inc., through its subsidiaries, manages private advisory accounts (GAMCO Asset Management Inc.), mutual funds and closed-end funds (Gabelli Funds, LLC). As of December 31, 2020, GAMCO Investors had $32.6 billion in assets under management.
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President and COO
GAMCO Investors, Inc.
COO, Gabelli Funds, LLC