THE GABELLI EQUITY INCOME FUND
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.2%
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$508 M
Holdings in Top 10
25.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.18%
SALES FEES
Front Load 5.75%
Deferred Load N/A
TRADING FEES
Turnover 48.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$1,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
GEICX - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.20%
- Dividend Yield 0.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameTHE GABELLI EQUITY INCOME FUND
-
Fund Family NameGabelli Fund Complex
-
Inception DateJun 01, 2023
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRalph R. Layman
Fund Description
The Equity Income Fund will seek to achieve its investment objective through a combination of capital appreciation and current income by investing, under normal market conditions, at least 80% of its net assets in income producing equity securities of both U.S. and non-U.S. companies. Income producing equity securities include, for example, common stock, preferred stock, and convertible securities. In making stock selections, Gabelli Funds, LLC, the Equity Income Fund’s adviser (the “Adviser”), looks for securities of issuers with any capitalization size that have a better yield than the average of the Standard and Poor’s 500 Index (the “S&P 500 Index”), as well as capital gains potential.
In selecting investments for the Equity Income Fund, the Adviser focuses on issuers that:
● | have strong free cash flow and pay regular dividends |
● | have potential for long term earnings per share growth |
● | may be subject to a value catalyst, such as industry developments, regulatory changes, changes in management, sale or spin-off of a division, or the development of a profitable new business |
● | are well managed |
● | will benefit from sustainable long term economic dynamics, such as globalization of an issuer’s industry or an issuer’s increased focus on productivity or enhancement of services. |
The Adviser also believes preferred stock and convertible securities of selected companies offer opportunities for capital appreciation as well as periodic income and may invest a portion of the Equity Income Fund’s assets in such securities. This is particularly true in the case of companies that have performed below expectations. If a company’s performance has been poor enough, its preferred stock and convertible debt securities will trade more like common stock than like a fixed income security and may result in above average appreciation if performance improves. Even if the credit quality of the company is not in question, the market price of the convertible security will reflect little or no element of conversion value if the price of its common stock has fallen substantially below the conversion price. This leads to the possibility of capital appreciation if the price of the common stock recovers.
GEICX - Performance
Return Ranking - Trailing
Period | GEICX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -7.9% | 28.8% | 79.58% |
1 Yr | N/A | -4.8% | 20.0% | N/A |
3 Yr | N/A* | -17.4% | 46.0% | N/A |
5 Yr | N/A* | -34.2% | 75.3% | N/A |
10 Yr | N/A* | -0.6% | 16.1% | N/A |
* Annualized
Return Ranking - Calendar
Period | GEICX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -7.3% | 22.0% | N/A |
2022 | N/A | -43.6% | 71.3% | N/A |
2021 | N/A | -28.5% | 18.9% | N/A |
2020 | N/A | -90.1% | 992.1% | N/A |
2019 | N/A | -1.9% | 38.8% | N/A |
Total Return Ranking - Trailing
Period | GEICX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -7.9% | 28.8% | 79.58% |
1 Yr | N/A | -4.8% | 20.0% | N/A |
3 Yr | N/A* | -17.4% | 46.0% | N/A |
5 Yr | N/A* | -34.2% | 75.3% | N/A |
10 Yr | N/A* | -0.6% | 16.1% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | GEICX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | 3.2% | 41.4% | N/A |
2022 | N/A | -43.6% | 144.8% | N/A |
2021 | N/A | -22.6% | 56.0% | N/A |
2020 | N/A | -89.7% | 1010.8% | N/A |
2019 | N/A | 4.3% | 38.8% | N/A |
NAV & Total Return History
GEICX - Holdings
Concentration Analysis
GEICX | Category Low | Category High | GEICX % Rank | |
---|---|---|---|---|
Net Assets | 508 M | 2.56 M | 425 B | 58.76% |
Number of Holdings | 217 | 1 | 10801 | 40.09% |
Net Assets in Top 10 | 129 M | 0 | 41 B | 54.44% |
Weighting of Top 10 | 25.07% | 2.7% | 112.8% | 44.33% |
Top 10 Holdings
- Genuine Parts Co 4.45%
- Deere Co 3.27%
- Bank of New York Mellon Corp/The 3.01%
- GATX Corp 2.25%
- Microsoft Corp 2.22%
- Brown-Forman Corp 2.20%
- Fomento Economico Mexicano SAB de CV 2.06%
- Mueller Industries Inc 1.95%
- Mastercard Inc 1.84%
- State Street Corp 1.84%
Asset Allocation
Weighting | Return Low | Return High | GEICX % Rank | |
---|---|---|---|---|
Stocks | 100.03% | 0.00% | 122.60% | 2.07% |
Preferred Stocks | 0.00% | -0.01% | 7.80% | 78.11% |
Other | 0.00% | -2.97% | 43.01% | 74.41% |
Convertible Bonds | 0.00% | 0.00% | 4.18% | 56.53% |
Cash | 0.00% | -22.43% | 100.00% | 98.96% |
Bonds | 0.00% | -0.92% | 71.30% | 60.21% |
Stock Sector Breakdown
Weighting | Return Low | Return High | GEICX % Rank | |
---|---|---|---|---|
Financial Services | 21.45% | 0.00% | 47.75% | 10.91% |
Consumer Cyclical | 11.54% | 0.00% | 36.36% | 23.64% |
Industrials | 10.66% | 5.17% | 99.49% | 90.76% |
Healthcare | 10.37% | 0.00% | 21.01% | 69.70% |
Technology | 10.09% | 0.00% | 36.32% | 64.55% |
Basic Materials | 8.83% | 0.00% | 23.86% | 36.52% |
Consumer Defense | 8.28% | 0.00% | 32.29% | 67.73% |
Energy | 4.19% | 0.00% | 16.89% | 67.42% |
Communication Services | 3.80% | 0.00% | 21.69% | 85.15% |
Real Estate | 2.47% | 0.00% | 14.59% | 36.82% |
Utilities | 0.90% | 0.00% | 13.68% | 76.97% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | GEICX % Rank | |
---|---|---|---|---|
US | 88.03% | 0.00% | 103.55% | 4.88% |
Non US | 12.00% | 0.00% | 121.07% | 93.05% |
GEICX - Expenses
Operational Fees
GEICX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.18% | 0.01% | 19.62% | 7.56% |
Management Fee | 1.00% | 0.00% | 1.65% | 98.52% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 43.14% |
Administrative Fee | 0.20% | 0.01% | 1.00% | 83.26% |
Sales Fees
GEICX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.75% | 3.50% | 5.75% | 20.22% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
GEICX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 1.00% | 2.00% | 51.61% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
GEICX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 48.00% | 2.00% | 247.00% | 65.12% |
GEICX - Distributions
Dividend Yield Analysis
GEICX | Category Low | Category High | GEICX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.91% | 0.00% | 25.23% | 0.74% |
Dividend Distribution Analysis
GEICX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annually | Quarterly | Quarterly |
Net Income Ratio Analysis
GEICX | Category Low | Category High | GEICX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.20% | -0.93% | 6.38% | 94.09% |
Capital Gain Distribution Analysis
GEICX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 26, 2024 | $0.006 | OrdinaryDividend |
Mar 26, 2024 | $0.007 | OrdinaryDividend |
Feb 27, 2024 | $0.100 | OrdinaryDividend |
Jan 29, 2024 | $0.100 | OrdinaryDividend |
Nov 28, 2023 | $0.100 | OrdinaryDividend |
Oct 27, 2023 | $0.100 | OrdinaryDividend |
Sep 27, 2023 | $0.812 | OrdinaryDividend |
Aug 29, 2023 | $0.100 | OrdinaryDividend |
Jul 27, 2023 | $0.100 | OrdinaryDividend |
Jun 28, 2023 | $0.100 | OrdinaryDividend |
GEICX - Fund Manager Analysis
Managers
Ralph R. Layman
Start Date
Tenure
Tenure Rank
Mar 02, 1994
19.51
19.5%
Layman is responsible for the oversight and management of GE Asset Management' s public equity investment operations. He is also a Trustee for the U.S. GE Pension Trust and a member of GEAM's Asset Allocation Committee, which he chaired in 2003 and 2004. In addition, Layman serves on the boards of the Elfun Funds, GE's Savings & Securities Trusts and GEAM's London office. He joined GE in 1991 to lead GEAM's international equity investment efforts and develop the philosophy and approach for this asset class.
Michael J. Solecki
Start Date
Tenure
Tenure Rank
Dec 31, 1998
14.68
14.7%
Michael is Co-Chief Investment Officer for International Equities at GE Asset Management and Portfolio Manager for the International Equity and Europe Equity portfolios. He also shares research responsibilities for Commercial Banks. He joined GE Asset Management (GEAM) in 1991 after completing GE's Financial Management Program. While at GEAM, Michael has held a series of Portfolio Management and Analyst roles in our London and Stamford based locations. Prior to GE, he worked for Monarch Capital Corporation as a financial analyst. Michael has a BS in Finance from Western New England College and
Jonathan L. Passmore
Start Date
Tenure
Tenure Rank
Jan 28, 2002
11.6
11.6%
Jonathan is a Senior Vice President and Portfolio Manager for the International Equity (EAFE Plus) portfolio. Jonathan joined GE Asset Management in 2001 and has worked in the investment industry for 34 years. His career includes over a decade in the fixed income markets and more than twenty years experience in the non-US equity markets. Prior to joining GEAM, Jonathan was a Director of International Equity at Merrill Lynch & Co. in New York, and previously was a Director at Creditanstalt International Advisors, a Central European investment advisor. Educated in England, Jonathan is actively engaged in philanthropic activities that raise global educational standards.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.35 | 6.3 | 3.25 |