UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21529
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The Gabelli Global Utility & Income Trust
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(Exact name of registrant as specified in charter)
One Corporate Center
Rye, New York 10580-1422
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(Address of principal executive offices) (Zip code)
Bruce N. Alpert
Gabelli Funds, LLC
One Corporate Center
Rye, New York 10580-1422
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(Name and address of agent for service)
Registrant's telephone number, including area code: 1-800-422-3554
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Date of fiscal year end: December 31
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Date of reporting period: September 30, 2007
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549. The OMB has reviewed this collection of information under the clearance
requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
The Schedule(s) of Investments is attached herewith.
[GRAPHIC OMITTED]
GLOBAL UTILITY
& INCOME TRUST
THE GABELLI GLOBAL UTILITY & INCOME TRUST
Third Quarter Report
September 30, 2007
TO OUR SHAREHOLDERS,
The Gabelli Global Utility & Income Trust's (the "Fund") net asset value
("NAV") rose 2.24% in the third quarter of 2007, compared with a 1.95% gain for
the Standard & Poor's ("S&P") Utilities Index and a rise of 2.07% for the Lipper
Utility Fund Average. The Fund's market price, adjusted for distributions, was
up 2.80% during the past quarter. As of September 30, 2007, the Fund's market
price was $22.10 on the American Stock Exchange, representing a discount of
12.79% to its NAV of $25.34 at the end of the quarter.
Enclosed is the investment portfolio as of September 30, 2007.
COMPARATIVE RESULTS
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AVERAGE ANNUAL RETURNS THROUGH SEPTEMBER 30, 2007 (a)
-----------------------------------------------------
Since
Inception
Quarter 1 Year 3 Year (05/28/04)
------- ------ ------ ----------
GABELLI GLOBAL UTILITY & INCOME TRUST
NAV TOTAL RETURN (b) .............. 2.24% 17.58% 15.86% 15.27%
INVESTMENT TOTAL RETURN (c) ....... 2.80 16.49 13.08 9.71
S&P 500 Utilities Index .............. 1.95 21.15 20.74 21.33
Lipper Utility Fund Average .......... 2.07 25.72 22.00 22.35
(a) RETURNS REPRESENT PAST PERFORMANCE AND DO NOT GUARANTEE FUTURE RESULTS.
INVESTMENT RETURNS AND THE PRINCIPAL VALUE OF AN INVESTMENT WILL
FLUCTUATE. WHEN SHARES ARE SOLD, THEY MAY BE WORTH MORE OR LESS THAN THEIR
ORIGINAL COST. CURRENT PERFORMANCE MAY BE LOWER OR HIGHER THAN THE
PERFORMANCE DATA PRESENTED. VISIT WWW.GABELLI.COM FOR PERFORMANCE
INFORMATION AS OF THE MOST RECENT MONTH END. PERFORMANCE RETURNS FOR
PERIODS LESS THAN ONE YEAR ARE NOT ANNUALIZED. INVESTORS SHOULD CAREFULLY
CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES, AND EXPENSES OF THE
FUND BEFORE INVESTING. THE S&P 500 UTILITIES INDEX IS AN UNMANAGED
INDICATOR OF ELECTRIC AND GAS UTILITY STOCK PERFORMANCE. THE LIPPER
AVERAGE REFLECTS THE AVERAGE PERFORMANCE OF OPEN-END MUTUAL FUNDS
CLASSIFIED IN THIS PARTICULAR CATEGORY. DIVIDENDS ARE CONSIDERED
REINVESTED. YOU CANNOT INVEST DIRECTLY IN AN INDEX.
(b) TOTAL RETURNS AND AVERAGE ANNUAL RETURNS REFLECT CHANGES IN NAV PER SHARE
AND REINVESTMENT OF DISTRIBUTIONS AT NAV ON THE EX-DIVIDEND DATE AND ARE
NET OF EXPENSES. SINCE INCEPTION RETURN IS BASED ON AN INITIAL NAV OF
$19.06.
(c) TOTAL RETURNS AND AVERAGE ANNUAL RETURNS REFLECT CHANGES IN CLOSING MARKET
VALUES ON THE AMERICAN STOCK EXCHANGE AND REINVESTMENT OF DISTRIBUTIONS.
SINCE INCEPTION RETURN IS BASED ON AN INITIAL OFFERING PRICE OF $20.00.
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We have separated the portfolio manager's commentary from the financial
statements and investment portfolio due to corporate governance regulations
stipulated by the Sarbanes-Oxley Act of 2002. We have done this to ensure that
the content of the portfolio manager's commentary is unrestricted. The financial
statements and investment portfolio are mailed separately from the commentary.
Both the commentary and the financial statements, including the portfolio of
investments, will be available on our website at www.gabelli.com.
--------------------------------------------------------------------------------
THE GABELLI GLOBAL UTILITY & INCOME TRUST
SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 2007 (UNAUDITED)
MARKET
SHARES VALUE
---------- ------------
COMMON STOCKS -- 96.0%
ENERGY AND UTILITIES -- 68.8%
ENERGY AND UTILITIES: ALTERNATIVE ENERGY -- 0.1%
U.S. COMPANIES
1,200 Ormat Technologies Inc. ........................... $ 55,608
------------
ENERGY AND UTILITIES:
ELECTRIC TRANSMISSION AND DISTRIBUTION -- 5.9%
NON U.S. COMPANIES
8,775 National Grid plc, ADR ............................ 704,018
U.S. COMPANIES
4,900 CH Energy Group Inc. .............................. 234,220
1,000 Consolidated Edison Inc. .......................... 46,300
20,000 Energy East Corp. ................................. 541,000
5,000 Northeast Utilities ............................... 142,850
50,000 NSTAR ............................................. 1,740,500
40,000 Pepco Holdings Inc. ............................... 1,083,200
1,666 UIL Holdings Corp. ................................ 52,479
------------
4,544,567
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ENERGY AND UTILITIES: INTEGRATED -- 44.2%
NON U.S. COMPANIES
150,000 AEM SpA ........................................... 561,465
500 Areva SA .......................................... 505,747
8,000 Chubu Electric Power Co. Inc. ..................... 207,200
152,000 Datang International Power Generation Co. Ltd.,
Cl. H .......................................... 174,606
9,000 E.ON AG, ADR ...................................... 552,330
8,400 Electric Power Development Co. Ltd. ............... 326,888
4,000 Endesa SA ......................................... 228,664
45,000 Enel SpA .......................................... 509,490
9,760 Energias de Portugal SA, ADR ...................... 569,088
29,000 Enersis SA, ADR ................................... 514,460
142,000 Hera SpA .......................................... 586,191
10,000 Hokkaido Electric Power Co. Inc. .................. 216,341
10,000 Hokuriku Electric Power Co. ....................... 195,447
4,000 Huaneng Power International Inc., ADR ............. 211,120
20,000 Iberdrola SA ...................................... 1,174,978
16,000 Iberdrola SA, ADR ................................. 937,482
5,000 Korea Electric Power Corp., ADR ................... 115,750
10,000 Kyushu Electric Power Co. Inc. .................... 264,658
4,500 Oesterreichische Elektrizitaetswirtschafts AG,
Cl. A .......................................... 259,365
10,000 Shikoku Electric Power Co. Inc. ................... 251,164
10,000 The Chugoku Electric Power Co. Inc. ............... 203,282
16,000 The Kansai Electric Power Co. Inc. ................ 365,647
10,000 The Tokyo Electric Power Co. Inc. ................. 252,470
10,000 Tohoku Electric Power Co. Inc. .................... 213,729
MARKET
SHARES VALUE
---------- ------------
U.S. COMPANIES
1,000 Allegheny Energy Inc.+ ............................ $ 52,260
7,000 ALLETE Inc. ....................................... 313,320
19,000 Ameren Corp. ...................................... 997,500
30,000 American Electric Power Co. Inc. .................. 1,382,400
276,100 Aquila Inc.+ ...................................... 1,107,161
1,000 Avista Corp. ...................................... 20,350
6,000 Black Hills Corp. ................................. 246,120
500 Cleco Corp. ....................................... 12,635
500 CMS Energy Corp. .................................. 8,410
60,000 DPL Inc. .......................................... 1,575,600
42,000 Duke Energy Corp. ................................. 784,980
1,000 El Paso Electric Co.+ ............................. 23,130
6,000 Florida Public Utilities Co. ...................... 70,800
9,000 FPL Group Inc. .................................... 547,920
60,000 Great Plains Energy Inc. .......................... 1,728,600
26,000 Hawaiian Electric Industries Inc. ................. 564,460
29,500 Integrys Energy Group Inc. ........................ 1,511,285
5,000 Maine & Maritimes Corp.+ .......................... 141,600
15,000 MGE Energy Inc. ................................... 501,600
45,000 NiSource Inc. ..................................... 861,300
16,000 NorthWestern Corp. ................................ 434,720
19,500 OGE Energy Corp. .................................. 645,450
6,000 Otter Tail Corp. .................................. 213,900
1,000 PG&E Corp. ........................................ 47,800
15,000 Pinnacle West Capital Corp. ....................... 592,650
4,200 PPL Corp. ......................................... 194,460
33,000 Progress Energy Inc. .............................. 1,546,050
18,000 Public Service Enterprise Group Inc. .............. 1,583,820
19,000 SCANA Corp. ....................................... 736,060
1,000 TECO Energy Inc. .................................. 16,430
1,000 The Empire District Electric Co. .................. 22,590
45,000 The Southern Co. .................................. 1,632,600
20,000 TXU Corp. ......................................... 1,369,400
17,000 Unisource Energy Corp. ............................ 508,130
17,000 Vectren Corp. ..................................... 463,930
41,000 Westar Energy Inc. ................................ 1,006,960
5,000 Wisconsin Energy Corp. ............................ 225,150
45,000 Xcel Energy Inc. .................................. 969,300
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34,058,393
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ENERGY AND UTILITIES: NATURAL GAS INTEGRATED -- 4.5%
NON U.S. COMPANIES
80,000 Snam Rete Gas SpA ................................. 497,654
U.S. COMPANIES
25,000 El Paso Corp. ..................................... 424,250
1,000 Energen Corp. ..................................... 57,120
16,000 National Fuel Gas Co. ............................. 748,960
2,000 ONEOK Inc. ........................................ 94,800
110,000 SEMCO Energy Inc.+ ................................ 867,900
See accompanying notes to schedule of investments.
2
THE GABELLI GLOBAL UTILITY & INCOME TRUST
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2007 (UNAUDITED)
MARKET
SHARES VALUE
---------- ------------
COMMON STOCKS (CONTINUED)
ENERGY AND UTILITIES (CONTINUED)
ENERGY AND UTILITIES: NATURAL GAS INTEGRATED (CONTINUED)
U.S. COMPANIES (CONTINUED)
10,500 Southern Union Co. ................................ $ 326,655
20,000 Spectra Energy Corp. .............................. 489,600
------------
3,506,939
------------
ENERGY AND UTILITIES: NATURAL GAS UTILITIES -- 2.8%
U.S. COMPANIES
23,000 Atmos Energy Corp. ................................ 651,360
2,000 Chesapeake Utilities Corp. ........................ 67,980
20,000 Nicor Inc. ........................................ 858,000
5,000 Piedmont Natural Gas Co. Inc. ..................... 125,450
6,000 Southwest Gas Corp. ............................... 169,740
10,000 The Laclede Group Inc. ............................ 322,800
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2,195,330
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ENERGY AND UTILITIES: OIL -- 2.5%
NON U.S. COMPANIES
500 Niko Resources Ltd. ............................... 48,887
1,500 PetroChina Co. Ltd., ADR .......................... 277,665
10,000 Royal Dutch Shell plc, Cl. A, ADR ................. 821,800
U.S. COMPANIES
4,000 Chevron Corp. ..................................... 374,320
2,000 ConocoPhillips .................................... 175,540
2,000 Devon Energy Corp. ................................ 166,400
1,000 Exxon Mobil Corp. ................................. 92,560
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1,957,172
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ENERGY AND UTILITIES: SERVICES -- 0.2%
NON U.S. COMPANIES
5,000 ABB Ltd., ADR ..................................... 131,150
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ENERGY AND UTILITIES: WATER -- 5.2%
NON U.S. COMPANIES
1,000 Consolidated Water Co. Ltd. ....................... 30,020
50,000 Severn Trent plc .................................. 1,442,426
2,000 Suez SA ........................................... 118,039
12,000 Suez SA, ADR ...................................... 704,819
7,200 Suez SA, Strips+ .................................. 103
50,000 United Utilities plc .............................. 716,098
U.S. COMPANIES
8,666 Aqua America Inc. ................................. 196,545
3,000 California Water Service Group .................... 115,470
SHARES/ MARKET
UNITS VALUE
---------- ------------
4,000 Middlesex Water Co. ............................... $ 75,600
17,000 SJW Corp. ......................................... 580,380
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3,979,500
------------
DIVERSIFIED INDUSTRIAL -- 1.8%
NON U.S. COMPANIES
14,500 Bouygues SA ....................................... 1,250,702
U.S. COMPANIES
2,400 Woodward Governor Co. ............................. 149,760
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1,400,462
------------
ENVIRONMENTAL SERVICES -- 1.6%
NON U.S. COMPANIES
75,000 Biffa plc ......................................... 339,891
10,000 Veolia Environnement .............................. 861,127
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1,201,018
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TOTAL ENERGY AND UTILITIES ........................ 53,030,139
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COMMUNICATIONS -- 24.3%
CABLE AND SATELLITE -- 7.0%
NON U.S. COMPANIES
10,000 Cogeco Inc. ....................................... 380,033
2,500 Rogers Communications Inc., Cl. B ................. 113,825
U.S. COMPANIES
40,000 Cablevision Systems Corp., Cl. A+ ................. 1,397,600
16,000 EchoStar Communications Corp.,Cl. A+ .............. 748,960
4,580 Liberty Global Inc., Cl. A+ ....................... 187,872
4,000 Liberty Global Inc., Cl. C+ ....................... 154,640
100,000 The DIRECTV Group Inc.+ ........................... 2,428,000
------------
5,410,930
------------
TELECOMMUNICATIONS -- 12.0%
NON U.S. COMPANIES
28,000 BCE Inc. .......................................... 1,121,400
2,103 Bell Aliant Regional Communications
Income Fund (a) ................................ 67,726
26,000 BT Group plc, ADR ................................. 1,633,580
30,000 Deutsche Telekom AG, ADR .......................... 588,900
6,000 France Telecom SA, ADR ............................ 200,640
3,000 Manitoba Telecom Services Inc. .................... 145,981
30,000 Portugal Telecom SGPS SA .......................... 420,511
15,000 Royal KPN NV, ADR ................................. 260,550
1,500 Swisscom AG ....................................... 570,432
24,062 Telecom Italia SpA ................................ 73,168
See accompanying notes to schedule of investments.
3
THE GABELLI GLOBAL UTILITY & INCOME TRUST
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2007 (UNAUDITED)
MARKET
SHARES VALUE
---------- ------------
COMMON STOCKS (CONTINUED)
COMMUNICATIONS (CONTINUED)
TELECOMMUNICATIONS (CONTINUED)
NON U.S. COMPANIES (CONTINUED)
16,000 Telefonica SA, ADR ................................ $ 1,340,480
15,000 Telefonos de Mexico SAB de CV,Cl. L, ADR .......... 493,050
U.S. COMPANIES
20,000 AT&T Inc. ......................................... 846,200
1,000 Embarq Corp. ...................................... 55,600
20,000 Sprint Nextel Corp. ............................... 380,000
24,000 Verizon Communications Inc. ....................... 1,062,720
------------
9,260,938
------------
WIRELESS COMMUNICATIONS -- 5.3%
NON U.S. COMPANIES
500 America Movil SAB de CV,Cl. L, ADR ................ 32,000
2,500 Millicom International Cellular SA+ ............... 209,750
1,600 Mobile TeleSystems OJSC, ADR ...................... 110,896
10,000 Vimpel-Communications, ADR ........................ 270,400
2,000 Vodafone Group plc, ADR ........................... 72,600
U.S. COMPANIES
19,000 Alltel Corp. ...................................... 1,323,920
150,000 Dobson Communications Corp.,Cl. A+ ................ 1,918,500
1,500 United States Cellular Corp.+ ..................... 147,300
------------
4,085,366
------------
TOTAL COMMUNICATIONS .............................. 18,757,234
------------
OTHER -- 2.9%
AEROSPACE -- 1.0%
NON U.S. COMPANIES
68,000 Rolls-Royce Group plc+ ............................ 726,942
------------
AVIATION: PARTS AND SERVICES -- 0.8%
U.S. COMPANIES
1,500 Sequa Corp., Cl. A+ ............................... 248,670
2,400 Sequa Corp., Cl. B+ ............................... 399,600
------------
648,270
------------
BUSINESS SERVICES -- 0.2%
NON U.S. COMPANIES
3,700 Sistema JSFC, GDR ................................. 123,025
------------
MARKET
SHARES VALUE
---------- ------------
ENTERTAINMENT -- 0.4%
NON U.S. COMPANIES
8,000 Vivendi ........................................... $ 337,663
------------
METALS AND MINING -- 0.3%
NON U.S. COMPANIES
5,000 Compania de Minas Buenaventura SA, ADR ............ 238,900
------------
PUBLISHING -- 0.1%
U.S. COMPANIES
1,200 Idearc Inc. ....................................... 37,764
------------
TRANSPORTATION -- 0.1%
U.S. COMPANIES
2,000 GATX Corp. ........................................ 85,500
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TOTAL OTHER ....................................... 2,198,064
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TOTAL COMMON STOCKS ............................... 73,985,437
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CONVERTIBLE PREFERRED STOCKS -- 0.1%
COMMUNICATIONS -- 0.0%
TELECOMMUNICATIONS -- 0.0%
U.S. COMPANIES
500 Cincinnati Bell Inc.,6.750% Cv. Pfd., Ser. B ...... 22,745
------------
OTHER -- 0.1%
TRANSPORTATION -- 0.1%
U.S. COMPANIES
200 GATX Corp.,$2.50 Cv. Pfd. ......................... 43,500
------------
TOTAL CONVERTIBLE PREFERRED STOCKS ................ 66,245
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PRINCIPAL
AMOUNT
----------
CONVERTIBLE CORPORATE BONDS -- 0.6%
COMMUNICATIONS -- 0.2%
COMMUNICATIONS EQUIPMENT -- 0.1%
U.S. COMPANIES
$ 100,000 Agere Systems Inc., Sub. Deb. Cv.,6.500%, 12/15/09 101,500
------------
See accompanying notes to schedule of investments.
4
THE GABELLI GLOBAL UTILITY & INCOME TRUST
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2007 (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
---------- ------------
CONVERTIBLE CORPORATE BONDS (CONTINUED)
COMMUNICATIONS (CONTINUED)
TELECOMMUNICATIONS -- 0.1%
NON U.S. COMPANIES
$ 112,000 Nortel Networks Corp., Cv.,4.250%, 09/01/08 ....... $ 110,460
------------
OTHER -- 0.4%
REAL ESTATE -- 0.4%
U.S. COMPANIES
Palm Harbor Homes Inc., Cv.,
150,000 3.250%, 05/15/24 ............................... 116,250
200,000 3.250%, 05/15/24 (a) ........................... 155,000
------------
271,250
------------
TOTAL CONVERTIBLE CORPORATE BONDS ................. 483,210
------------
U.S. GOVERNMENT OBLIGATIONS -- 3.3%
2,567,000 U.S. Treasury Bills, 3.632% to 4.065%++,
11/23/07 to 03/20/08 ........................... 2,541,745
------------
TOTAL INVESTMENTS -- 100.0%
(Cost $58,127,147) $ 77,076,637
============
----------
Aggregate book cost $ 58,127,147
============
Gross unrealized appreciation $ 19,387,737
Gross unrealized depreciation (438,247)
------------
Net unrealized appreciation (depreciation) $ 18,949,490
============
----------
(a) Security exempt from registration under Rule 144A of the Securities Act of
1933, as amended. These securities may be resold in transactions exempt
from registration, normally to qualified institutional buyers. At
September 30, 2007, the market value of Rule 144A securities amounted to
$222,726 or 0.29% of total investments.
+ Non-income producing security.
++ Represents annualized yield at date of purchase.
ADR American Depository Receipt
GDR Global Depository Receipt
% OF
MARKET MARKET
VALUE VALUE
---------- ------------
GEOGRAPHIC DIVERSIFICATION
North America ..................................... 67.6% $ 52,080,076
Europe ............................................ 26.5 20,412,163
Japan ............................................. 3.2 2,496,827
Latin America ..................................... 1.7 1,308,430
Asia/Pacific ...................................... 1.0 779,141
---------- ------------
100.0% $ 77,076,637
========== ============
See accompanying notes to schedule of investments.
5
THE GABELLI GLOBAL UTILITY & INCOME TRUST
NOTES TO SCHEDULE OF INVESTMENTS (UNAUDITED)
SECURITY VALUATION. Portfolio securities listed or traded on a nationally
recognized securities exchange or traded in the U.S. over-the-counter market for
which market quotations are readily available are valued at the last quoted sale
price or a market's official closing price as of the close of business on the
day the securities are being valued. If there were no sales that day, the
security is valued at the average of the closing bid and asked prices or, if
there were no asked prices quoted on that day, then the security is valued at
the closing bid price on that day. If no bid or asked prices are quoted on such
day, the security is valued at the most recently available price or, if the
Board of Trustees (the "Board") so determines, by such other method as the Board
shall determine in good faith to reflect its fair market value. Portfolio
securities traded on more than one national securities exchange or market are
valued according to the broadest and most representative market, as determined
by the Gabelli Funds, LLC.
Portfolio securities primarily traded on a foreign market are generally valued
at the preceding closing values of such securities on the relevant market, but
may be fair valued pursuant to procedures established by the Board if market
conditions change significantly after the close of the foreign market but prior
to the close of business on the day the securities are being valued. Debt
instruments with remaining maturities of 60 days or less that are not credit
impaired are valued at amortized cost, unless the Board determines such amount
does not reflect the securities' fair value, in which case these securities will
be fair valued as determined by the Board. Debt instruments having a maturity
greater than 60 days for which market quotations are readily available are
valued at the average of the latest bid and asked prices. If there were no asked
prices quoted on such day, the security is valued using the closing bid price.
Securities and assets for which market quotations are not readily available are
fair valued as determined by the Board.
6
[GRAPHIC OMITTED]
TRUSTEES AND OFFICERS
THE GABELLI GLOBAL UTILITY & INCOME TRUST
ONE CORPORATE CENTER, RYE, NY 10580-1422
TRUSTEES
Anthony J. Colavita
ATTORNEY-AT-LAW,
ANTHONY J. COLAVITA, P.C.
James P. Conn
FORMER MANAGING DIRECTOR &
CHIEF INVESTMENT OFFICER,
FINANCIAL SECURITY ASSURANCE HOLDINGS LTD.
Mario d'Urso
CHAIRMAN, MITTEL CAPITAL MARKETS SPA
Vincent D. Enright
FORMER SENIOR VICE PRESIDENT &
CHIEF FINANCIAL OFFICER,
KEYSPAN CORP.
Michael J. Melarkey
ATTORNEY-AT-LAW,
AVANSINO, MELARKEY, KNOBEL & MULLIGAN
Salvatore M. Salibello
CERTIFIED PUBLIC ACCOUNTANT,
SALIBELLO & BRODER, LLP
Salvatore J. Zizza
CHAIRMAN, ZIZZA & CO., LTD.
OFFICERS
Bruce N. Alpert
PRESIDENT
Peter D. Goldstein
CHIEF COMPLIANCE OFFICER
James E. McKee
SECRETARY
Agnes Mullady
TREASURER
David I. Schachter
VICE PRESIDENT
INVESTMENT ADVISER
Gabelli Funds, LLC
One Corporate Center
Rye, New York 10580-1422
CUSTODIAN
State Street Bank and Trust Company
COUNSEL
Skadden, Arps, Slate, Meagher & Flom, LLP
TRANSFER AGENT AND REGISTRAR
Computershare Trust Company, N.A.
STOCK EXCHANGE LISTING
Common
---------
Amex-Symbol: GLU
Shares Outstanding: 3,050,236
The Net Asset Value per share appears in the Publicly Traded Funds column, under
the heading "Specialized Equity Funds," in Monday's The Wall Street Journal. It
is also listed in Barron's Mutual Funds/Closed End Funds section under the
heading "Specialized Equity Funds."
The Net Asset Value per share may be obtained each day by calling (914) 921-5070
or visiting www.gabelli.com.
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For general information about the Gabelli Funds, call 800-GABELLI
(800-422-3554), fax us at 914-921-5118, visit Gabelli Funds' Internet homepage
at: WWW.GABELLI.COM, or e-mail us at: closedend@gabelli.com
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Notice is hereby given in accordance with Section 23(c) of the Investment
Company Act of 1940, as amended, that the Fund may, from time to time, purchase
its shares in the open market when the Fund's shares are trading at a discount
of 10% or more from the net asset value of the shares.
--------------------------------------------------------------------------------
THE GABELLI GLOBAL UTILITY & INCOME TRUST
ONE CORPORATE CENTER
RYE, NY 10580-1422
(914) 921-5070
WWW.GABELLI.COM
THIRD QUARTER REPORT
SEPTEMBER 30, 2007
GLU Q3/2007
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive and principal financial officers,
or persons performing similar functions, have concluded that the
registrant's disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the
"1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within
90 days of the filing date of the report that includes the disclosure
required by this paragraph, based on their evaluation of these
controls and procedures required by Rule 30a-3(b) under the 1940 Act
(17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the
Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or
240.15d-15(b)).
(b) There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the 1940 Act
(17 CFR 270.30a-3(d)) that occurred during the registrant's last
fiscal quarter that have materially affected, or are reasonably likely
to materially affect, the registrant's internal control over financial
reporting.
ITEM 3. EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of
the Sarbanes-Oxley Act of 2002 are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) The Gabelli Global Utility & Income Trust
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By (Signature and Title)* /s/ Bruce N. Alpert
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Bruce N. Alpert, Principal Executive Officer
Date November 15, 2007
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ Bruce N. Alpert
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Bruce N. Alpert, Principal Executive Officer
Date November 15, 2007
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By (Signature and Title)* /s/ Agnes Mullady
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Agnes Mullady,
Principal Financial Officer and Treasurer
Date November 15, 2007
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* Print the name and title of each signing officer under his or her signature.