<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 0000909504
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 GABELLI GLOBAL SERIES FUNDS, INC.
001 B000000 811-7896
001 C000000 8004223554
002 A000000 ONE CORPORATE CENTER
002 B000000 RYE
002 C000000 NY
002 D010000 10580
002 D020000 1434
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 THE GABELLI GLOBAL TELECOMMUNICATIONS FUND
007 C030100 N
007 C010200 2
007 C020200 THE GABELLI GLOBAL CONVERTIBLE SECURITIES FND
007 C030200 N
007 C010300 3
007 C020300 THE GABELLI GLOBAL INTERACTIVE COUCH POTATO F
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
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008 B00AA01 A
008 C00AA01 801-37706
008 D01AA01 RYE
008 D02AA01 NY
008 D03AA01 10580
008 D04AA01 1434
010 A00AA01 GABELLI FUNDS, INC.
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<PAGE> PAGE 2
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010 A00AA02 BISYS FUND SERVICES L.P.
010 C01AA02 COLUMBUS
010 C02AA02 OH
010 C03AA02 43219
011 A00AA01 GABELLI & COMPANY, INC.
011 B00AA01 8-21373
011 C01AA01 RYE
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011 C04AA01 1434
012 A00AA01 STATE STREET BANK & TRUST COMPANY
012 B00AA01 85-05003
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012 C03AA01 02171
013 A00AA01 GRANT THORNTON LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10004
013 B04AA01 2616
014 A00AA01 GABELLI & COMPANY, INC.
014 B00AA01 8-21373
014 A00AA02 IFG NETWORK SECURITIES
014 B00AA02 8-37937
014 A00AA03 KEELEY INVESTMENT CORP.
014 B00AA03 8-20353
015 A00AA01 STATE STREET BANK & TRUST COMPANY
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020 B000001 13-2885006
020 C000001 23
020 A000002 ASIEL & CO.
020 B000002 13-4933080
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020 A000003 GOLDMAN SACHS & CO.
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020 A000005 CASELLA VINDETT
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 7
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE TRACIE PERSINGER
TITLE MANAGER
Board of Directors
The Gabelli Global Series Fund, Inc.,
consisting of:
The Gabelli Global Telecommunications Fund
The Gabelli Global Interactive Couch Potato Fund
The Gabelli Global Convertible Securities Fund
The Gabelli Global Entertainment and Media Fund
The Gabelli Global Growth Fund
In planning and performing our audit of the financial statements of The
Gabelli Global Series Fund, Inc. for the year ended December 31, 1997,
we considered its internal control structure, including procedures for
safeguarding securities in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, not to provide assurance
on the internal control structure.
The management of The Gabelli Global Series Fund, Inc. is responsible for
establishing and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of internal control structure
policies and procedures. Two of the objectives of an internal control
structure are to provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from unauthorized
use or disposition and that transactions are executed in accordance with
management's authorization and recorded properly to permit preparation
of financial statements in conformity with generally accepted accounting
principles.
Because of inherent limitations in any internal control structure, errors
or irregularities may occur and not be detected. Also, projection of
any evaluation of the structure to future periods is subject to the
risk that it may become inadequate because of changes in conditions
or that the effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be
material weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness is a
condition in which the design or operation of the specific internal
control structure elements does not reduce to a relatively low level the
risk that errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted
no matters involving the internal control structure, including
procedures for safeguarding securities, that we consider to be material
weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission.
New York, New York
February 26, 1998
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000909504
<NAME> GABELLI GLOBAL SERIES FUNDS, INC.
<SERIES>
<NUMBER> 021
<NAME> THE GABELLI GLOBAL CONVERTIBLE SECURITIES FUND
<MULTIPLIER> 1
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1997
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<PERIOD-END> DEC-31-1997
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<PER-SHARE-NAV-BEGIN> 10.18
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<EXPENSE-RATIO> 2.48
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000909504
<NAME> GABELLI GLOBAL SERIES FUNDS, INC.
<SERIES>
<NUMBER> 031
<NAME> THE GLOBAL INTERACTIVE COUCH POTATO FUND
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
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