The disappearance of the B.B. Micro-Cap Growth Fund inches closer. On Thursday Teton Advisors said that the fund will merge into the GAMCO Westwood Mighty Mites Fund on March 27, thanks to a now-complete shareholder vote approving the move. Teton, which already manages Mighty Mites, has managed the B.B. fund, formerly known as the Bjurman, Barry Micro-Cap Growth Fund, on an interim basis since December 1.
RYE, N.Y.--(BUSINESS WIRE)--Teton Advisors, Inc. is pleased to announce that the shareholders of the B.B. Micro-Cap Growth Fund (formerly named the Bjurman, Barry Micro-Cap Growth Fund) (The “B.B. Fund”) have approved their merger into the GAMCO Westwood Mighty MitesSM Fund (The “Mighty Mites Fund”). The merger will occur at the close of business on Friday, March 27, 2009, whereby B.B. Fund shareholders will receive the equivalent value of shares of the Mighty Mites Fund. Teton Advisors, Inc. has been the interim manager of the B.B. Fund since December 1, 2008 and currently manages the Mighty Mites Fund. The portfolio management team of the Mighty Mites Fund includes Mario J. Gabelli, Chairman of GAMCO Investors, Inc., Laura S. Linehan and Walter K. Walsh.
“We thank the shareholders and the Board of Trustees of B.B. Micro-Cap Growth Fund for their confidence in our portfolio management team,” said Nicholas F. Galluccio, President and CEO of Teton Advisors, Inc. “The success of this merger demonstrates our capability to accommodate investment management mandates in the small and micro cap equity asset class, including mutual fund acquisitions.”
Teton Advisors, Inc. is the registered investment adviser to six open-end mutual funds under the GAMCO Westwood brand. As of December 31, 2008 Teton Advisors, Inc. assets under management were $450 million.
The stocks of smaller companies may trade less frequently and experience more abrupt price movements than stocks of larger companies, therefore, investing in this sector involves special challenges. Investing in micro capitalization stocks may involve greater risk than investing in small, medium and large capitalization stocks, since they can be subject to more abrupt or erratic movements in price. The GAMCO Westwood Mighty Mites sm Fund may invest in relatively new or unseasoned companies, which are in their early stages of development, or micro cap companies positioned in new and emerging industries. Micro-cap companies may be illiquid. Securities of micro-cap and unseasoned companies present greater risks than securities of larger, more established companies.
The Fund's share price will fluctuate with changes in the market value of the Fund's portfolio securities. Stocks are subject to market, economic and business risks that cause their prices to fluctuate. When you sell Fund shares, they may be worth less than what you paid for them. Consequently, you can lose money by investing in the Fund.
Investors should consider the investment objectives, risks, sales charges and expense of the fund carefully before investing. The prospectus contains more complete information about this and other matters. The prospectus should be read carefully before investing.
You can obtain a free prospectus by calling the Distributor, Gabelli & Company, Inc. at 1-800-GABELLI (1-800-422-3554), or contacting your financial representative or by visiting http://www.gabelli.com.
Mighty MitesSM is a service mark of GAMCO Investors, Inc.
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