Teton Advisors has launched the Teton Convertible Securities Fund which will be managed by the convertible securities team at Gabelli Funds.
Thomas Dinsmore (pictured), CFA, Jane O’Keeffe, and James Dinsmore, CFA, will join Barbara Marcin, CFA on the portfolio management team. The Gabelli Convertible Team currently manages USD325 million AUM in convertible securities across three closed end funds: Bancroft Fund Ltd (NYSE:BCV), Ellsworth Growth and Income Fund Ltd (NYSE:ECF) and The Gabelli Convertible and Income Securities Fund Inc (NYSE:GCV).
Thomas Dinsmore, CFA, has been an equity analyst and portfolio manager at Dinsmore Capital since 1983 and led the team from 1993 to 2015. Dinsmore joined Gabelli Funds LLC in 2015. He is a CFA charterholder and has a BS in Economics from the Wharton School of Business, and an MA in Economics from Fairleigh Dickinson University.
O’Keeffe has been in the investment business since 1980 and joined Dinsmore Capital in 1994 as an analyst and portfolio manager focusing on the healthcare sector. O’Keeffe joined Gabelli Funds LLC. in 2015. She has a BA from the University of New Hampshire and attended the Lubin Graduate School of Business at Pace University.
James Dinsmore, CFA, joined Gabelli Funds LLC in 2015. Prior to joining Gabelli Funds, Dinsmore was a Portfolio Manager since 2010 and equity analyst since 2004 focusing on the technology and telecom sectors at Dinsmore Capital Management. Dinsmore is a CFA charterholder. He earned his MBA in finance and marketing from Rutgers University and has a BA in Economics from Cornell University.
Marcin, CFA, joined GAMCO Investors, Inc in June 1999 to manage The Gabelli Dividend Growth Fund and Teton Westwood Income Fund. Marcin, a Chartered Financial Analyst, received an MBA from Harvard University's Graduate School of Business in 1986. She completed her undergraduate studies in 1979 at the University of Virginia where she graduated with Distinction as an Echols' Scholar.
Teton will be rebranding the former Teton Westwood Income Fund (Class I: WESIX). The Fund, currently managed by Barbara Marcin, will change its investment strategy to invest in a portfolio consisting primarily of convertible securities. The Board of Directors of the Teton Westwood Funds, approved the Fund’s name change and amendments to its current investment strategy effective October 1, 2016. The Fund will invest at least 80% of its assets in convertible securities.
“Teton is excited about the new strategy for the Fund given the team's experience and track record managing convertible securities funds,” says Nicholas Galluccio, President and CEO of Teton. “This is a great opportunity for asset gathering at a time when investors are starved for yield with upside.”
“The risk reward profile of a portfolio of convertible bonds and preferred stocks can provide an attractive equity alternative for investors looking for reduced volatility and extra income,” says Tom Dinsmore, portfolio manager of the Teton Convertible Securities Fund.