Gotham Index Plus (GINDX)

100% Net Long: Index Investment + Long/Short Overlay

NAV $14.58

Daily Return -0.14%

Since Inception Return (Cum) 49.65%

Minimum Investment$250,000
Fund Net Assets$658,716,264
Inception DateMarch 31, 2015
As of 12/10/2018

Investment Overview

The Gotham Index Plus Fund (the "Fund") was created for investors that are seeking to more closely track an index by combining an index investment with an active long/short overlay. The Fund generally seeks 100% net long exposure by being 190% long vs. 90% short (100% index + active long/short overlay). 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

For each $100 invested in Gotham Index Plus, we start with $100 of U.S. stocks that seek to track the S&P 500® Index. Next, we select long and short positions (from a large cap investment universe) that we believe are the cheapest and most expensive, respectively, relative to our assessment of value. Finally, we net positions that appear in both the index portion and the actively managed long/short overlay, with the result being a portfolio with an overall exposure of approximately $190 long and $90 short.

For the active long/short overlay, 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 Fund also employs risk management, which follows 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 11/30/2018

  Month Trailing 3
YTD 1 YEAR 3 YEAR Since Inception Annualized1 Since Inception Cumulative1
Gotham Index Plus Fund - GINDX 2.68% -0.97% 5.94% 10.06% 15.84% 13.17% 57.45%
S&P 500 2.04% -4.40% 5.11% 6.27% 12.16% 10.45% 43.98%

1Inception date: March 31, 2015

Please click here to view quarterly standardized performance

Composition & Holdings as of 09/30/2018

Portfolio Exposures
Long 181.64%
Short -82.64%
Net 99.00%
Gross 264.28%
Portfolio Composition
Long Holdings 263
Short Holdings 234
Net Sector Allocation (% of Equity)
Information Tech 25.22%
Health Care 24.53%
Consumer Staples 18.46%
Industrials 16.48%
Consumer Disc 9.31%
Telecom Services 6.68%
Energy 5.65%
Financials 1.30%
Materials 1.30%
Utilities -2.90%
Real Estate -7.03%

Fees & Minimums

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

Annual Fund Operating Expenses
Expense Limitation1 (Includes management fee of 1.00%) 1.15%
Gross Expense Ratio (Includes dividend expense on short sales and financing of 2.46%, but does not reflect dividends earned by the Fund on its long positions of 4.07% or waiver/reimbursements by the Advisor of 0.01%) 3.62%
Net Expense Ratio (after waivers and reimbursements under expense cap agreement) 3.61%
Distribution (12b-1) Fee None

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

Purchase Directly through the Fund Family (See Below)


Available at the Following Firms:

Purchase through the Fund Family (steps 1-3):