497 1 d577095d497.htm THE GABELLI ASSET FUND The Gabelli Asset Fund

FILED PURSUANT TO RULE 497(e)

REGISTRATION NO. 033-01719

THE GABELLI ASSET FUND

Supplement dated August 2, 2018

to the

Statement of Additional Information dated April 30, 2018

This supplement amends certain information in the Statement of Additional Information (the “SAI”), dated April 30, 2018, of The Gabelli Asset Fund. Unless otherwise indicated, all other information included in the SAI, or any previous supplements thereto, that is not inconsistent with the information set forth in this supplement remains unchanged. Capitalized terms not otherwise defined in this supplement have the same meaning as in the SAI.

The following replaces the heading “Investment Advisory and Other Services—Portfolio Manager Information—Other Accounts Managed” in the SAI:

Portfolio Manager Information

Other Accounts Managed

The information below provides summary information regarding other accounts for which the portfolio managers were primarily responsible for day to day management during the fiscal year ended December 31, 2017.

 

Name of Portfolio Manager

  

Type of Accounts

   Total
Number of
Accounts
Managed
   Total Assets      Number of
Accounts
Managed with
Advisory Fee
Based on
Performance
   Total Assets
with Advisory
Fee Based on
Performance
 

Mario J. Gabelli, CFA

   Registered Investment Companies*:    25    $ 21.3 billion      6    $ 5.7 billion  
   Other Pooled Investment Vehicles:    11    $ 1.2 billion      8    $ 939.4 million  
   Other Accounts:    1,158    $ 12.5 billion      6    $ 1.4 billion  

Kevin V. Dreyer

   Registered Investment Companies:    6    $ 5.2 billion      2    $ 4.7 billion  
   Other Pooled Investment Vehicles:    3    $ 121.6 million      0    $ 0  
   Other Accounts:    360    $ 2.2 billion      0    $ 0  

Christopher J. Marangi

   Registered Investment Companies:    7    $ 5.7 billion      3    $ 5.0 billion  
   Other Pooled Investment Vehicles:    3    $ 121.6 million      0    $ 0  
   Other Accounts:    365    $ 2.1 billion      0    $ 0  

Jeffrey J. Jonas, CFA

   Registered Investment Companies:    3    $ 3.1 billion      1    $ 2.6 billion  
   Other Pooled Investment Vehicles:    1    $ 5.7 million      1    $ 5.7 million  
   Other Accounts:    7    $ 48.3 million      0    $ 0  

 

*

The total number of Registered Investment Companies (“RICs”) in the Fund Complex is 54. Mr. Gabelli is the sole portfolio manager of 15 RICs and part of the portfolio management team of 11 RICs.

Shareholders Should Retain This Supplement For Future Reference