Gotham Index Plus (GINDX)

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

NAV $12.26

Daily Return -1.76%

YTD Return 6.33%

TickerGINDX
CUSIP360875579
Minimum Investment$250,000
GINDX Return (Since Inception)125.78%
S&P 500 Return (Since Inception)125.47%
Fund Net Assets$182,272,879
Inception DateMarch 31, 2015
As of 08/17/2017

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 07/31/2017

  Month Trailing 3
Months
YTD 1 YEAR Since Inception Annualized1 Since Inception Cumulative1
Gotham Index Plus Fund - GINDX 2.16% 1.15% 6.68% 16.27% 10.32% 25.78%
S&P 500 2.06% 4.14% 11.59% 16.04% 10.21% 25.47%

1Inception date: March 31, 2015

Composition & Holdings as of 06/30/2017

Portfolio Exposures
Long 190.60%
Short -91.60%
Net 99.00%
Gross 282.19%
Portfolio Composition
Long Holdings 317
Short Holdings 179
Net Sector Allocation (% of Equity)
Information Tech 31.42%
Consumer Disc 26.43%
Financials 11.90%
Consumer Staples 10.26%
Industrials 9.36%
Health Care 8.85%
Materials 2.25%
Telecom Services 1.93%
Energy 0.90%
Utilities -1.06%
Real Estate -3.24%

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 1.00%) 1.15%
Gross Expense Ratio (Includes dividend expense on short sales and financing of 2.23%, but does not reflect dividends earned by the Fund on its long positions of 4.13% or waiver/reimbursements by the Advisor of 0.09%) 3.47%
Net Expense Ratio (after waivers and reimbursements under expense cap agreement) 3.38%
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)

OR

Available at the Following Firms:

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