Teton Advisors (TETAA) has renamed its group of funds that it has advised since it was spun off from GAMCO Investors—Mario Gabelli’s fund group—in March 2009. The change erases the Gabelli connection and rebrands the funds the TETON Westwood Funds.
The name change—first outlined in a filing with the U.S. Securities and Exchange Commission on Sept. 25—became effective Oct. 1. The fund group was previously called the GAMCO Westwood Funds.
The six renamed open-end mutual funds under the TETON Westwood brand now include: TETON Westwood Mighty Mites Fund, TETON Westwood SmallCap Equity Fund, TETON Westwood Income Fund, TETON Westwood Equity Fund, TETON Westwood Balanced Fund and TETON Westwood Intermediate Bond Fund.
Rye, N.Y.-based Teton Advisors had $836 million in assets under management as of the end of June, much of that in its flagship Mighty Mites fund, which holds $560 million.
“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,” stated Teton’s president and chief executive Nicholas Galluccio.