FILED PURSUANT TO RULE 497(e)

REGISTRATION NO. 033-54016

GABELLI INVESTOR FUNDS, INC.

The Gabelli ABC 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 ABC Fund, a series of Gabelli Investor Funds, Inc. (the “Corporation”). 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 manager was primarily responsible for day to day management during the fiscal year ended December 31, 2017.

 

Name of Portfolio Manager		Type of Accounts		Total No. of Accounts Managed		Total Assets				No. of Accounts where Advisory Fee Based on Performance		Total Assets in Accounts where Advisory Fee is Based on Performance
Mario J. Gabelli, CFA		Registered Investment Companies*:		25		$	22.6 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

 

*	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