Products February 7, 2011

Gabelli Changes Global Fund Name

The Gabelli Global Deal Fund has changed its name to The GDL Fund, effective January 14, 2011.

 

Reported by

The fund’s investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. Absolute returns are defined as positive total returns, regardless of the direction of securities markets. To achieve its investment objective, the fund, under normal market conditions, will invest primarily in securities of companies (both domestic and foreign) involved in publicly announced mergers, takeovers, tender offers and leveraged buyouts and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs and liquidations.

The fund’s management team believes that in the near term there may not be sufficient foreign deal activity to maintain, under normal circumstances, at least 40% of the fund’s assets in at least three countries outside the United States. The fund is accordingly changing its name to more accurately reflect this non-fundamental investment policy. Under normal circumstances, the fund expects to continue to invest at least 80% in securities relating to companies involved in mergers and acquisitions throughout the world.

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The fund’s primary investment objective, risk profile and management team will not change.

Data & Research February 7, 2011

Gen Y More Knowledgeable about Benefits

Over the past two years, the youngest generation in the workforce has become more engaged in learning about the benefits available to them, according to Unum.
Reported by

The percentage of members of Generation Y who said they are extremely/very familiar with life insurance jumped from 31% in 2008, to 44% in 2010. The percentage who said they are extremely/very familiar with retirement accounts grew from 31% to 43%. And those who said they are extremely/very familiar with disability insurance increased from 16% to 24%.   

According to Unum research, the 2010 study showed the workplace continues to be Gen Y’s most reliable source for benefits information, with 68% of respondents citing it as a top resource. However, they are also more likely to seek out information about financial protection benefits online than they were just two years ago.   

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The percentage that uses insurance company Web sites to learn about benefits providers grew from 32% in 2008 to 44% in 2010. The percentage that visits consumer advice Web sites grew from 21% to 27%.  The percentage that participates in online forums or blogs increased from 7% to 12%.   

As their use of online resources grew, Gen Y’s reliance on family and friends as a source of benefits information diminished. Between 2008 and 2010, the percentage who said they rely on parents for benefits information fell from 60% to 42%. The percentage citing friends as a resource for benefits guidance dropped from 30% to 21%.   

The 2010 survey was conducted online within the United States by Harris Interactive on behalf of Unum from August 17-19, 2010, among 387 Gen Y respondents (ages 18-32) employed full- or part-time. The 2008 survey was conducted from August 12-14, 2008, among 357 Gen Y respondents (ages 18-30) employed full- or part-time.

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