<SEC-DOCUMENT>0001999371-24-009436.txt : 20240910
<SEC-HEADER>0001999371-24-009436.hdr.sgml : 20240910
<ACCEPTANCE-DATETIME>20240801172103
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001999371-24-009436
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GDL FUND
		CENTRAL INDEX KEY:			0001378701
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		914-921-5100

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Gabelli Global Deal Fund
		DATE OF NAME CHANGE:	20061019
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 10pt EngraversGothic BT; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 60%; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt EngraversGothic BT; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 8pt EngraversGothic BT; width: 40%; padding-right: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 1, 2024</FONT></TD></TR>
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<P STYLE="font: 10pt EngraversGothic BT; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"><B><U>VIA EDGAR</U></B> &nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">Division of Investment Management</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">U.S. Securities and Exchange Commission</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">100 F Street N.E.</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">Washington, DC 20549&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="text-indent: 0pt; width: 5%; padding-right: 5.4pt; padding-left: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0pt; width: 95%; padding-right: 5.4pt; padding-left: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">David L. Orlic</FONT></TD></TR>
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    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-indent: 0in"><FONT STYLE="font-size: 10pt">Christina DiAngelo Fettig</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: -0.5in">&nbsp;</P>

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<TD></TD><TD>RE:</TD><TD COLSPAN="2">The GDL Fund</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 25%">(File Nos.: 333-279464 ; 811-21969)</TD>
                              <TD STYLE="width: 60%">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0in">Dear
Mr. Orlic and Ms. Fetting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; text-align: justify; text-indent: 0.5in">Thank you for your oral comments
regarding your review of pre-effective amendment no. 1 (the &ldquo;Amendment&rdquo;) to the registration statement on Form N-2 filed on
May 16, 2024 (the &ldquo;<U>Registration Statement</U>&rdquo;) by The GDL Fund (the &ldquo;<U>Fund</U>&rdquo;) with the U.S. Securities
and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;). The Fund has considered your comments and authorized us to respond on its behalf
as set forth below. Changes will be reflected in final prospectus of the Fund as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Your oral comments are summarized
in bold to the best of our understanding, followed by the Fund&rsquo;s responses. Capitalized terms not otherwise defined herein have
the meanings ascribed to them in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Investment Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">August 1, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><I>Accounting Comments</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Consider if additional changes regarding dividends on preferred shares
are needed in the footnote to the Expense Example. </B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The footnote has
been revised to match the fee table, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&ldquo;The example
should not be considered a representation of future expenses. The example is based on total Annual Expenses <FONT STYLE="color: red"><STRIKE>and
Dividends on Preferred Shares </STRIKE></FONT>shown in the table above and assumes that the amounts set forth in the table do not change
and that all distributions are reinvested at net asset value. Actual expenses may be greater or less than those assumed. Moreover, the
Fund&rsquo;s actual rate of return may be greater or less than the hypothetical 5% return shown in the example.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Confirm that the section reference in the </B>paragraph above price range of common shares is correct.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Fund confirms
that the price range of common shares table appears in the annual report under the heading &ldquo;Additional Fund Information&mdash;Summary
of Fund Expenses.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Please add hyperlinks to the cross references under the headings &ldquo;Financial Highlights&rdquo;
and &ldquo;Senior Securities.&rdquo;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Fund confirms
that the final prospectus will include hyperlinks to the cross references under the headings &ldquo;Financial Highlights&rdquo; and &ldquo;Senior
Securities.&rdquo;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>The N-CSR for the fiscal year ended December 31, 2023 did not include an auditors consent. Amend the
N-CSR to include an auditors consent.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Fund filed an
amendment to the N-CSR on July 26, 2024 to include the auditors consent.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Please consider if any changes are necessary to your response to prior comment 8(a) to confirm whether
the fee table in December 31, 2023 Annual Report remains current and that the estimates therein remain valid.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Fund confirms that
the estimates used for purposes of preparing the fee table in the December 31, 2023 Annual Report remain valid. However, as noted in
the Fund&rsquo;s prior response filed on or about July 5, 2024, the presentation and calculation of the management fee and performance
fee have been corrected in the updated fee table that has been included in the Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">* * * * * * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in">Should you have any additional comments
or concerns, please do not hesitate to contact me at (312) 407-0641.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Investment Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">August 1, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 3</P>

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    <TD STYLE="padding: 0pt; width: 50%; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; width: 20%; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Best regards,</FONT></TD>
    <TD STYLE="padding: 0pt; width: 30%; text-indent: 0pt">&nbsp;</TD></TR>
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    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
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    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">/s/ Kevin T. Hardy </FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
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    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Kevin T. Hardy</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
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