FORM 10-K/A GAMCO Investors, Inc. - Gabelli

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For the three years ended December 31, 2004, 2005 and 2006 our net cash inflows and outflows by product line were as follows (in millions): 2004 2005 2006 Mutual Funds Equities $ (261) $ 167 $ (802) Fixed Income (228) (788) (18) Total Mutual Funds (489) (621) (820) Institutional & HNW Separate Accounts Equities: direct (416) (310) (807) “ sub-advisory (762) (845) (1,057) Fixed Income (125) (310) (36) Total Institutional & HNW Separate Accounts (1,303) (1,465) (1,900) Investment Partnerships Equities 92 (208) (236) Fixed Income - - - Total Investment Partnerships 92 (208) (236) Total Equities (1,347) (1,196) (2,902) Total Fixed Income (353) (1,098) (54) Total Net Cash In (Out) Flows $ (1,700) $ (2,294) $ (2,956) 50
For the three years ended December 31, 2004, 2005 and 2006 our net appreciation and depreciation by product line were as follows (in millions): 2004 2005 2006 Mutual Funds Equities $ 1,015 $ 425 $ 2,034 Fixed Income 12 25 27 Total Mutual Funds 1,027 450 2,061 Institutional & HNW Separate Accounts Equities: direct 1,191 (22) 1,539 “ sub-advisory 543 (29) 565 Fixed Income 9 6 2 Total Institutional & HNW Separate Accounts 1,743 (45) 2,106 Investment Partnerships Equities 30 28 93 Fixed Income - - - Total Investment Partnerships 30 28 93 Total Equities 2,779 402 4,231 Total Fixed Income 21 31 29 Total Net Appreciation $ 2,800 $ 433 $ 4,260 Assets Under Management (AUM) were $28.1 billion as of December 31, 2006, 4.9% greater than December 31, 2005 AUM of $26.8 billion. Equity assets under management were a record $27.3 billion on December 31, 2006, 5.1% above the $26.0 billion on December 31, 2005. - Our closed-end equity funds reached record AUM of $5.8 billion on December 31, 2006, up 14.4% than the $5.1 billion on December 31, 2005. - Our open-end equity fund AUM were $8.4 billion on December 31, 2006, a 6.3% gain from the $7.9 billion level on December 31, 2005. - Our institutional and high net worth business had $12.6 billion in separately managed equity accounts under management on December 31, 2006, 1.9% above the $12.4 billion on December 31, 2005. - Our Investment Partnerships AUM were $491 million on December 31, 2006 versus $634 million on December 31, 2005. - Fixed income AUM, primarily money market mutual funds, totaled $794 million on December 31, 2006, 3.1% lower than AUM of $819 million on December 31, 2005. 51
Page 1 and 2: UNITED STATES SECURITIES AND EXCHAN
Page 3 and 4: The aggregate market value of the c
Page 5 and 6: Our assets under management are org
Page 7 and 8: - GAM GAMCO Equity Fund, managed by
Page 9 and 10: As in prior years, we experienced c
Page 11 and 12: To further extend “value investin
Page 13 and 14: · Diversified Product Offerings: S
Page 15 and 16: Open-end Funds On December 31, 2006
Page 17 and 18: Assets Under Management The followi
Page 19 and 20: The following table lists the Mutua
Page 21 and 22: Net Assets as of December 31, Fund
Page 23 and 24: Net Assets as of December 31, Fund
Page 25 and 26: Shareholders of the open-end Funds
Page 27 and 28: Gabelli & Company also offers our o
Page 29 and 30: Investments by GBL on behalf of our
Page 31 and 32: ITEM 1A: RISK FACTORS Business Risk
Page 33 and 34: Catastrophic and unpredictable even
Page 35 and 36: During 2006, as in prior years, we
Page 37 and 38: Our businesses are subject to exten
Page 39 and 40: PART II ITEM 5: MARKET FOR THE REGI
Page 41 and 42: The following table shows informati
Page 43 and 44: December 31, 2002 (a) 2003 (a) 2004
Page 45 and 46: As a result of the first material w
Page 47 and 48: Consolidated Statements of Income I
Page 49: Our liquid balance sheet, coupled w
Page 53 and 54: Expenses Compensation: Compensation
Page 55 and 56: Mutual fund revenues increased $3.9
Page 57 and 58: Liquidity and Capital Resources Our
Page 59 and 60: Our revenues are primarily driven b
Page 61 and 62: Critical Accounting Policies In the
Page 63 and 64: Recent Accounting Developments In F
Page 65 and 66: ITEM 8: FINANCIAL STATEMENTS AND SU
Page 67 and 68: REPORT OF INDEPENDENT REGISTERED PU
Page 69 and 70: GAMCO INVESTORS, INC. AND SUBSIDIAR
Page 71 and 72: (In thousands) See accompanying not
Page 73 and 74: GAMCO INVESTORS, INC. AND SUBSIDIAR
Page 75 and 76: Gabelli Direct, Inc. (“Gabelli Di
Page 77 and 78: Goodwill Goodwill pertains to the c
Page 79 and 80: Restatement As discussed within the
Page 81 and 82: In February 2007, the FASB issued F
Page 83 and 84: We were not required to consolidate
Page 85 and 86: E. Debt Debt consists of the follow
Page 87 and 88: The table below represents for vari
Page 89 and 90: Shelf Registration On December 28,
Page 91 and 92: We serve as the investment advisor
Page 93 and 94: N. Goodwill In accordance with SFAS
Page 95 and 96: As a result of the first material w
Page 97 and 98: ITEM 14: PRINCIPAL ACCOUNTANT FEES
Page 99 and 100: POWER OF ATTORNEY Each person whose
Page 101 and 102:
Exhibit 21.1 Subsidiaries of GAMCO
Page 103 and 104:
Exhibit 31.1 Certifications I, Mari
Page 105 and 106:
Certifications Exhibit 31.3 I, Dian
Page 107:
Exhibit 32.2 Certification of Actin
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FORM 10-K/A GAMCO Investors, Inc. - Gabelli

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