**The Gotham Neutral Fund is designed to be market neutral, which means the Fund seeks to achieve returns that are not closely correlated, in most cases, with the returns of the U.S. equity markets.

The performance data quoted represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that an investor's shares upon redemption may be worth more or less than their original cost. The performance quoted does not reflect a 1% redemption fee imposed on shares redeemed or exchanged within 30 days of purchase. Returns would have been lower if certain expenses had not been reduced or reimbursed. Current performance may be lower or higher than the performance data quoted. For performance current to the most recent month-end, please call 877-974-6852.

The Gotham Neutral Fund’s gross expense ratio is estimated to be 1.86%. The net expense ratio is 1.51% and the management fee is 1.50%.

Annual Fund Operating Expenses reflect current fees as if the following changes were in effect during the entire fiscal year ended September 30, 2020: (i) the Fund’s principal investment strategy was revised to reflect that the Fund obtains long and short exposure through one or more swaps; and (ii) effective July 20, 2020, the Fund’s investment advisory fee was reduced from 2.00% to 1.50% and the Fund’s expense limitation was reduced from 2.15% to 1.50%.

The Adviser has contractually agreed to reduce its investment advisory fee and/or reimburse certain expenses of the Fund to the extent necessary to ensure that the Fund’s total operating expenses do not exceed 1.50% (on an annual basis) of average daily net assets of the Fund until January 31, 2027. The expense limitation is exclusive of certain expenses. See the Prospectus and Summary Prospectus for additional details.

Portfolio composition is subject to change at any time.

**The Gotham Neutral Fund is designed to be market neutral, which means the Fund seeks to achieve returns that are not closely correlated, in most cases, with the returns of the U.S. equity markets.

¹Annual Fund Operating Expenses reflect current fees as if the following changes were in effect during the entire fiscal year ended September 30, 2020: (i) the Fund’s principal investment strategy was revised to reflect that the Fund obtains long and short exposure through one or more swaps; and (ii) effective July 20, 2020, the Fund’s investment advisory fee was reduced from 2.00% to 1.50% and the Fund’s expense limitation was reduced from 2.15% to 1.50%.

²The Adviser has contractually agreed to reduce its investment advisory fee and/or reimburse certain expenses of the Fund to the extent necessary to ensure that the Fund’s total operating expenses do not exceed 1.50% (on an annual basis) of average daily net assets of the Fund until January 31, 2027. The expense limitation is exclusive of certain expenses. See the Prospectus and Summary Prospectus for additional details.

*The net long exposures are approximate and are the targeted exposures during most market environments.