Gotham Enhanced Return Fund (GENIX)

100% Net Long* (e.g., 170% long - 70% short)

NAV $14.87

Daily Return 0.07%

Since Inception Return (Cum) 71.54%

TickerGENIX
CUSIP360873129
Minimum Investment$250,000
Fund Net Assets$790,569,469
Inception DateMay 31, 2013
As of 11/13/2018

Investment Overview

The Gotham Enhanced Return Fund (the "Fund") is a long/short U.S. equity fund with a net long exposure of 100% (e.g., 170% long vs. 70% short = 100% net long). The Fund seeks long-term capital appreciation greater than that of the S&P 500® Index over a full market cycle. Joel Greenblatt and Robert Goldstein are the Managing Principals and Co-CIOs of Gotham Asset Management, LLC, the Advisor to this Fund.

Investment Strategy & Process

Gotham's proprietary equity research and risk controls are used to select long and short stock portfolios primarily from the U.S. large and mid-cap range.

The Co-CIOs and their team of equity analysts employ Gotham’s proprietary analytical framework to evaluate stocks within the coverage universe on measures of absolute and relative value.

The long portfolio is rebalanced daily to weight most heavily those stocks that are priced at the largest discount to Gotham's assessment of value. In general, as a company appears cheaper its weight in the portfolio increases.

Similarly, the short portfolio is rebalanced daily to weight most heavily those short positions selling at the largest premium to Gotham's measures of value.

Risk for the Fund's integrated long/short portfolio is managed following a disciplined proprietary process limiting concentration in any one company, industry or sector. In addition, gross and net exposures are managed daily to remain within carefully defined ranges.

Performance as of 10/31/2018

  Month Trailing 3
Months
YTD 1 YEAR 3 YEAR 5 YEAR Since Inception Annualized1 Since Inception Cumulative1
Gotham Enhanced Return Fund - GENIX -5.59% -3.23% -0.47% 5.97% 8.69% 8.72% 10.21% 69.35%
S&P 500 -6.84% -3.25% 3.01% 7.35% 11.52% 11.34% 12.12% 85.83%

1Inception date: May 31, 2013

Please click here to view quarterly standardized performance

Composition & Holdings as of 09/30/2018

Portfolio Exposures
Long 172.18%
Short -73.26%
Net 98.91%
Gross 245.44%
Portfolio Composition
Long Holdings 580
Short Holdings 497
Net Sector Allocation (% of Equity)
Information Tech 26.15%
Health Care 21.35%
Industrials 17.06%
Consumer Disc 13.41%
Consumer Staples 12.06%
Telecom Services 8.95%
Energy -0.03%
Materials -0.05%

Fees & Minimums

Purchase of Shares
Investment Minimum $250,000
Additional Investment Minimum $5,000

Annual Fund Operating Expenses
Expense Limitation1 (Includes management fee of 2.00%) 2.15%
Gross Expense Ratio (Includes dividend expense on short sales and financing of 1.40%, but does not reflect dividends earned by the Fund on its long positions of 2.98% or waiver/reimbursements by the Advisor of 0.01%) 3.56%
Net Expense Ratio (after waivers and reimbursements under expense cap agreement) 3.55%
Distribution (12b-1) Fee None

Shareholder Fees
Sales Load None
Deferred Sales Load None
Redemption Fees (within 30 days) 1.00%

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