] subsidiary Teton Advisors
is renaming its mutual funds. Today an SEC filing
revealed that the six GAMCO Westwood
funds will be renamed the TETON Westwood
Teton Advisors, the manager of the funds, was spun off
from GAMCO in 2009. The funds' distributor is GAMCO affiliate G. Distributors
, formerly Gabelli & Company.
Teton Advisors president and CEO Nick Galluccio
told the MFWire
that the renaming is an effort to distinguish the firm's brand with the public and in the distribution channels.
"It is becoming apparent that we need to sharpen our brand as we enter the next phase of our accelerated growth, and that we distinguish ourselves from our partners," he said. "For that reason, the TETON Westwood brand will attract greater recognition going forward in the various distribution channels."
Teton currently manages $870 million. Galluccio became CEO in 2008, when the firm held $370 million under management.
The six funds that Teton is rebranding are as follows:
GAMCO Westwood Mighty Mites Fund, with $560 million in AUM.
GAMCO Westwood Equity Fund, with $80.5 million in AUM.
GAMCO Westwood Balanced Fund, with $88 million in AUM.
GAMC Westwood SmallCap Equity Fund, with $40 million in AUM.
GAMCO Westwood Income Fund, with $7 million in AUM.
GAMCO Westwood Intermediate Bond Fund, with $23 million in AUM.
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