The Gabelli Global Small and Mid Cap Value Trust (the Fund) is a diversified, closed-end management investment company. The Company’s investment objective is to seek long-term growth of capital. The Fund attempts to achieve its investment objective by investing, at least 80% of its total assets in equity securities (such as common stock and preferred stock) of companies with small or medium sized market capitalizations (small cap and mid cap companies, respectively) and at least 40% of its total assets in the equity securities of companies located outside the United States and in at least three countries. The Company invests in food and beverages, financial services, health care, consumer products and business service sectors. The Fund is managed by Gabelli Funds, LLC.