Gotham Enhanced Return Fund (GENIX)

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

NAV $15.97

Daily Return 0.06%

YTD Return 8.27%

Minimum Investment$250,000
GENIX Return (Since Inception)170.16%
S&P 500 Return (Since Inception)180.41%
Fund Net Assets$982,278,962
Inception DateMay 31, 2013
As of 01/23/2018

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 12/31/2017

  Month Trailing 3
YTD 1 YEAR 3 YEAR Since Inception Annualized1 Since Inception Cumulative1
Gotham Enhanced Return Fund - GENIX 2.51% 8.88% 18.22% 18.22% 5.91% 12.29% 70.16%
S&P 500 1.11% 6.64% 21.83% 21.83% 11.41% 13.74% 80.41%

1Inception date: May 31, 2013

Composition & Holdings as of 12/31/2017

Portfolio Exposures
Long 172.53%
Short -73.54%
Net 98.99%
Gross 246.07%
Portfolio Composition
Long Holdings 577
Short Holdings 512
Net Sector Allocation (% of Equity)
Industrials 25.19%
Information Tech 24.50%
Consumer Disc 21.00%
Health Care 13.30%
Consumer Staples 13.07%
Telecom Services 1.96%
Materials -0.01%
Energy -0.02%

Fees & Minimums

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

Annual Fund Operating Expenses
Current Expense Ratio1 (Includes management fee of 2.00%) 2.15%
Gross Expense Ratio (Includes dividend expense on short sales and financing of 1.43%, but does not reflect dividends earned by the Fund on its long positions of 3.74%) 3.58%
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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