March 2nd | Leonora Walters
“Monica Tepes, director, investment companies research at Cantor Fitzgerald, says: ‘Gabelli Value Plus + Trust is less well known despite being run by a prestigious US fund manager with a strong long-term record. It invests in US equities across the market cap spectrum and is run with a value-orientated bottom-up approach.’

Its managers look to invest in stocks that trade at a significant discount to their private market valuation – the price they believe a strategic buyer would pay for the whole company – and where they can see one or more catalysts that should narrow that discount. Catalysts can include restructurings such as demergers and asset sales, operational improvements, regulatory/managerial changes, and mergers and acquisitions. This approach has delivered since 1997, on average, better performance relative to the S&P 500 index in down quarters, while also keeping up in quarters when things are going up.”