Snapshot: GDL

GDL FUND

9.8993up0.0193 (0.20%)

 as of 12:59:55pm ET 11/24/2017

Please note: Closed end funds are subject to the risk of their underlying assets and investment strategy. Unlike open end funds, closed end funds trade on an exchange at a price which is often a discount to their net asset value (NAV). The market price may experience periods of increased volatility due to the use of leverage as well as market and fund illiquidity. Important information you should know about investing in closed-end funds.

Bid/Size 9.66/0
Ask/Size 10.05/0
Open 9.935
High 9.935
Low 9.8993
Previous Close
AS OF 11/24/2017
9.8993
Price Performance (Last 52 Wk) 0.70%
Volume 0
Volume (90-Day Average) 28,870
NAV (Daily) --
Bid/Ask Midpoint (Previous Day) --
Premium / Discount (1 Month Average)^
as of 10/31/2017
-13.38%
NAV
as of 11/22/2017
11.63
NAV Update Frequency DAY
Options No
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Security Type

Closed End Fund

Total Leverage Ratio

38.23%

Asset Class

US Equity

Morningstar Category

Mid-Cap Growth

Prospectus Objective

Income

Net Assets
AS OF 10/31/2017

$213.1M

Total Expense Ratio (Reported)
AS OF 12/31/2016

4.84%

Sponsor

Gabelli

Inception Date

01/25/2007

Financial Year-End

December 31, 2016

Benchmark Index

Mid-Cap Growth

Legal Structure

Closed End Fund

Total Holdings
AS OF 06/30/2017

188

Investment Objective Summary

Under normal circumstances- the Fund will invest at least 80% of its assets in securities or hedging arrangements relating to companies involved in corporate transactions or reorganizations- giving rise to the possibility of realizing gains upon or within relatively short periods of time after the completion of such transactions or reorganizations. This policy is not fundamental and may be changed by the Fund with notice of not less than 60 days to its shareholders. In market cycles with scarce transaction opportunities- the Fund may seek to accomplish its objective of achieving absolute returns by temporarily investing in other assets- including- but not limited to- short-term debt securities- which may make it less likely for the Fund to achieve an attractive rate of return. As a global fund- the Fund may invest without limitation in the securities of foreign and domestic issuers. The Funds investment strategy is to invest in merger arbitrage transactions and corporate reorganizations throughout the world. Under normal market conditions- the Fund expects to have at least 40% of its assets invested in at least three countries- other than the United States. To the extent that the majority of mergers- takeovers- tender offers and leveraged buyouts and corporate reorganizations are concentrated in any given geographic region- such as Europe- North America or Asia- a relatively high proportion of the Funds assets may be invested in that particular region.

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News, Commentary & Events

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News

  • Show article details.

    The GDL Fund Declares Fourth Quarter Distribution of $0.10 Per Share

    Business Wire - 11/20/2017
    The Board of Trustees of The GDL Fund (GDL) declared a $0.10 per share cash distribution payable on December 15, 2017 to common shareholders of record on December 8, 2017. Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available.
  • Show article details.

    The GDL Fund Authorizes Non-Transferable Preferred Share Rights Offering

    Business Wire - 11/20/2017
    The Board of Trustees of The GDL Fund (GDL) has approved in principle a non-transferable rights offering by the Fund to the holders of its Series B Cumulative Puttable and Callable Preferred Shares to acquire shares of a newly designated series of preferred shares, Series C Cumulative Puttable and Callable Preferred Shares.

Commentary

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Analyst Opinions

Analyst Ratings

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Key Statistics

Compare

GDL
GDL FUND
Asset Class Median
Market Capitalization
AS OF 06/30/2017
390.9M 450.9M
Volume (10-Day Avg)
AS OF 11/22/2017
33.1K 123.4M
YTD Market Price Total Return
AS OF 10/31/2017
+7.78% +9.04%
1 Month Market Price Total Return
AS OF 10/31/2017
-0.81% -2.68%
1 Year Market Price Total Return
AS OF 10/31/2017
+10.90% +11.29%
1 Year NAV Total Return
AS OF 10/31/2017
+5.03% +7.05%
3 Year Annualized Market Price Total Return
AS OF 10/31/2017
+5.86% +11.29%
Beta (Market Price 1 Yr)
AS OF 10/31/2017
0.16 0.96
Annual Turnover Ratio
AS OF 12/31/2016
284% 37.80%
Total Expense Ratio (Reported)
AS OF 12/31/2016
0.00% 1.99%
Total Expense Ratio (Adjusted)
AS OF 12/31/2016
2.92% 1.75%
Compare to Other CEFs

Performance

Premium / Discount to NAV^ as of 10/31/2017

Premium Chart
Date Average
10/2017 -13.38%
09/2017 -12.22%
08/2017 -12.69%
07/2017 -12.76%
06/2017 -12.53%
05/2017 -14.51%
04/2017 -15.94%
03/2017 -16.54%
02/2017 -16.01%
01/2017 -16.26%
12/2016 -17.17%
11/2016 -17.24%
Quarter-End Average Annual Total ReturnsAS OF 09/30/2017
NAV Return Market Return
1 Year +3.34% +9.24%
3 Year +3.87% +5.39%
5 Year +3.89% +4.95%
10 Year +2.73% +3.71%
Life +2.97% +2.40%
Life as of inception date: 01/25/2007       Gross Expense Ratio: 0.00

The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

More about Performance & Risk

Portfolio Composition

Reported by Fund Sponsor

Top 10 HoldingsAs of 06/30/2017

US Treasury Bill 9.38%
Panera Bread Co Class A 4.01%
PLATF Parmalat SpA 2.63%
MBBYF Mobileye NV 2.5%
TLGHF Telenet Group Holding NV 2.37%
VCA Inc 2.27%
FIG Fortress Investment Group LLC A 2.26%
Patheon NV 2.02%
WR Westar Energy Inc 1.84%
Nutraceutical International Corp 1.45%
Assets in Top 10 Holdings30.72%
More about Portfolio Composition
*The Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly performance (including the effects of sales charges, loads and redemption fees, if applicable), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

The performance data shown represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. Distributions are not guaranteed and the amount of distributions will vary depending on a number of factors. Market prices and investment return will vary, therefore you may have a gain or loss when you sell your shares. Click on the "Performance & Risk" link to view quarter-end performance. All performance data is for the common shares of the fund. Total distribution rate (at market or NAV) may include unknown combinations of income, capital gains and return of capital.

Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated.

^Premium/Discount to NAV represents the percentage by which the funds market price exceeds or is less than net asset value (NAV). Shares of closed-end funds frequently trade at a market price that is a discount to their NAV.

Top holdings are as of the date indicated and may not be representative of the funds current or future investments.

News, commentary and events are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.

Any data, charts and other information provided on this page are intended to help self-directed investors evaluate closed end funds. Criteria and inputs entered, including the choice to make closed end fund comparisons, are at the sole discretion of the user and are solely for the convenience of the user. Analyst opinions, ratings and reports are provided by third-parties unaffiliated with Fidelity. All information supplied or obtained from this page is for informational purposes only and should not be considered investment advice or guidance, an offer of or a solicitation of an offer to buy or sell a particular security, or a recommendation or endorsement by Fidelity of any security or investment strategy. Fidelity does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating closed end funds. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use. Determine which securities are right for you based on your investment objectives, risk tolerance, financial situation and other individual factors and re-evaluate them on a periodic basis.

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Before investing in any fund, you should consider its investment objective, risks, charges and expenses. Contact Fidelity for the most recent shareholder report for this information. Read it carefully. Please also review information provided by the fund on its web site.