May 7, 1998
VIA EDGAR
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC 20549
Attention: Office of Filings, Information & Consumer Services
Re: The Gabelli Asset Fund (the "Fund")
File Nos. 33-1719/811-4494
Dear Sir or Madam:
Pursuant to Rule 497(j) under the Securities Act of
1933, as amended, please accept this letter as certification that
the Statement of Additional Information for the above-referenced
Fund does not differ from that contained in Post-Effective
Amendment No. 15 (the "Amendment") to the Fund's Registration
Statement on Form N-1A. This Amendment was filed electronically
on May 1, 1998 (Accession # 00000927405-98-000147).
Any comments on this filing should be directed to the
undersigned at (617) 573-1192.
Please return an electronic transmittal as evidence of
your receipt of this filing.
Very truly yours,
/s/ Teresa M.R. Hamlin
Teresa M.R. Hamlin
Counsel
cc: B. Alpert, Gabelli, Funds, Inc.
J. McKee, Gabelli, Funds, Inc.
R. Prins, Esq., Skadden, Arps, Slate, Meagher & Flom LLP
J. Tedesco, Esq., First Data Investor Services Group, Inc.
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