Company: GLU-PB
Filing Date: 2025-03-10
Form Type: N-CSR
Source: 0001829126-25-001658
Chunk: 7

Company: GABELLI GLOBAL UTILITY & INCOME TRUST
Filing Date: 2025-03-10
Form: N-CSR
Chunk 7
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 presented, there was no material impact on the expense ratios.                                                                                                                            |
| (e) | Ratio of operating expenses to average net assets including liquidation value of preferred shares for the years ended December 31, 2024, 2023, 2022, 2021, and 2020, would have been 1.07%, 0.88%, 0.83%, 0.89%, and 0.82%, respectively. |
| (f) | Based on weekly prices.                                                                                                                                                                                                                   |
| (g) | Asset coverage per share is calculated by combining all series of preferred shares.                                                                                                                                                       |
| (h) | Asset coverage is calculated by combining all series of preferred shares.                                                                                                                                                                 |

<div align='center'>See accompanying notes to financial statements.

15</div>

The Gabelli Global Utility & Income Trust

Notes to Financial Statements

1. Organization.The Gabelli Global Utility & Income Trust (the Fund) was organized on March 8, 2004 as a Delaware statutory trust. Although the Fund is registered as a non-diversified fund, it has operated as a diversified fund for over three years. Therefore, the Investment Company Act of 1940, as amended (the 1940 Act) obliges the Fund to continue to operate as a diversified fund unless the Fund obtains shareholder approval to operate as a non-diversified fund. The Fund commenced investment operations on May 28, 2004.

The Fund’s investment objective is to seek a consistent level of after-tax total return over the long term with an emphasis currently on qualified dividends. The Fund will attempt to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in equity securities (including preferred securities) of domestic and foreign companies involved to a substantial extent in providing products, services, or equipment for the generation or distribution of electricity, gas, or water and infrastructure operations, and in equity securities (including preferred securities) of companies in other industries, in each case in such securities that are expected to pay periodic dividends.

Gabelli Funds, LLC (the Adviser), with its principal offices located at One Corporate Center, Rye, New York 10580-1422, serves as investment adviser to the Fund. The Adviser makes investment decisions for the Fund and continuously reviews and administers the Fund’s investment program and manages its operations under the general supervision of the Fund’s Board of Directors (the Board).

2. Significant Accounting Policies.As an investment company