Statement of Additional Info - Gabelli

Team Member
Varun V. Singh
Lisa Dong, CFA
Fund
TETON Westwood Intermediate Bond
Fund
TETON Westwood Equity Fund
TETON Westwood Balanced Fund
TETON Westwood Equity Fund
TETON Westwood Balanced Fund
Dollar Range of Equity
Securities Held in each
Fund*
A
A
A
A
A
Scott D. Lawson, CFA TETON Westwood Equity Fund
TETON Westwood Balanced Fund
TETON Westwood Intermediate Bond
Fund
__________________________________________
* Key to Dollar Ranges- Information as of September 30, 2013
A. None
B. $1 – $10,000
C. $10,001 – $50,000
D. $50,001 – $100,000
E. $100,001 - $500,000
F. $500,001 – $1,000,000
G. over $1,000,000
A
A
B
Sub-Administrator
The Adviser is an affiliate of Gabelli Funds. Gabelli Funds has entered into an agreement (the “Sub-Administration
Agreement”) with BNY Mellon Investment Servicing (US) Inc., (the "Sub-Administrator"), which is located at 301
Bellevue Parkway, Wilmington, Delaware 19809. Under the Sub-Administration Agreement, the Sub-Administrator
(a) assists in supervising all aspects of the Trust's operations except those performed by the Adviser under its advisory
agreement with the Funds; (b) supplies the Funds with office facilities (which may be in the Sub-Administrator's own
offices), statistical and research data, data processing services, clerical, accounting, and bookkeeping services, including,
but not limited to, the calculation of the NAV per share of each class of the Funds, internal auditing and regulatory
administration services, internal executive and administrative services, and stationery and office supplies; (c) prepares
and distributes materials for all Board Meetings including the mailing of all Board materials and collates the same
materials into the Board books and assists in the drafting of minutes of the Board meetings; (d) prepares reports to Trust
shareholders, tax returns, and reports to and filings with the SEC and state "Blue Sky" authorities; (e) provides any
equipment or services necessary for the purpose of pricing shares or valuing the Fund's investment portfolio; (f) provides
compliance testing of all Fund activities against applicable requirements of the 1940 Act and the rules thereunder, the
Code, and each Fund’s investment restrictions; (g) furnishes to the Adviser such statistical and other factual information
and information regarding economic factors and trends as the Adviser from time to time may require; and (h) generally
provides all administrative services that may be required for the ongoing operation of the Trust in a manner consistent
with the requirements of the 1940 Act.
For the services it provides, Teton Advisors, Inc. pays the Sub-Administrator an annual fee based on the value of the
aggregate average daily net assets of all funds under its administration managed by the Adviser and its affiliates as
follows: up to $10 billion: 0.0275%; $10 billion to $15 billion: 0.0125%; over $15 billion: 0.01%. The Sub-
Administrator's fee is paid by Teton Advisors, Inc. and will result in no additional expenses to the Funds.
Counsel
Paul Hastings LLP, 75 East 55th Street, New York, New York 10022, serves as the Trust’s legal counsel.
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