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Gabelli Funds launches Gabelli Media Mogul NextShares

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Gabelli Funds, a subsidiary of GAMCO Investors, is to launch the Gabelli Media Mogul NextShares on the Nasdaq Stock Market on 1 December under the symbol MOGLC.

The fund is the first member of the Gabelli NextShares Trust offered under an agreement with NextShares Solutions, a subsidiary of Eaton Vance.
 
The primary objective of the fund is capital appreciation. Under normal market conditions, the fund will invest primarily in companies that were spun-off from Liberty Media Corporation as constituted in 2001, including companies formed through subsequent mergers of those spin-offs and companies in which Liberty Media and its successors have invested.
 
Liberty Media separated from AT&T in August 2001 to form a company that is an amalgamation of media and telecommunications related assets. The company’s chairman and largest shareholder since inception has been Dr John C Malone.
 
Since 2001, Liberty Media has engaged in a series of spin-offs, split-offs, mergers and tracking stock issuances.
 
Tracking stocks are generally common stocks issued by a parent company that track performance of a particular division of a company without having claim on the assets of the division or the parent company.
 
Media Mogul NextShares current investable universe includes US and non-US listed companies in the telecommunications, media, publishing, and entertainment industries.

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