Gotham Index Plus (GINDX)

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

NAV $17.56

Daily Return -1.95%

Since Inception Return (Cum) 88.42%

TickerGINDX
CUSIP360875579
Minimum Investment$250,000
Fund Net Assets$389,417,344
Inception DateMarch 31, 2015
As of 02/25/2021

Investment Overview

The Gotham Index Plus Fund (the "Fund") was created as an investment that seeks to more closely track an index than purely active funds 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 to outperform the S&P 500 over most annual periods. The Fund is not a passive index fund. 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 01/31/2021

  Month Trailing 3
Months		 YTD 1 YEAR 3 YEAR 5 YEAR Since Inception Annualized1 Since Inception Cumulative1
Gotham Index Plus Fund - GINDX 0.23% 11.33% 0.23% 11.04% 5.49% 14.25% 10.93% 83.27%
S&P 500 -1.01% 14.05% -1.01% 17.25% 11.70% 16.16% 12.80% 101.85%

1Inception date: March 31, 2015

Please click here to view quarterly standardized performance

Composition & Holdings as of 12/31/2020

Portfolio Exposures
Long 193.24%
Short -94.24%
Net 99.00%
Gross 287.49%
Portfolio Composition
Long Holdings 302
Short Holdings 196
Net Sector Allocation (% of Equity)
Information Tech 25.30%
Industrials 15.21%
Consumer Disc 14.09%
Communication Services 12.43%
Consumer Staples 10.80%
Health Care 10.73%
Financials 8.15%
Materials 5.81%
Energy 0.23%
Real Estate 0.02%
Utilities -3.76%

Fees & Minimums

Purchase of Shares
Investment Minimum** $100,000
Additional Investment Minimum $250

Annual Fund Operating Expenses
Gross Expense Ratio1 1.25%
Net Expense Ratio2 1.15%
Distribution (12b-1) Fee None

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

 

Resources
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Individual Investors

Purchase Directly through the Fund Family (See Below)

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Available at the Following Firms:

  • 1.

    To purchase directly, Complete Online Application for Non-Retirement Account or Retirement Account:

    CLICK HERE for the application

  • 2.

    Any questions?

     

    If you have any questions, please contact Shareholder Services at (877) 974-6852 Monday – Friday 9:00am to 5:00pm ET. 



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

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 click here.

The Gotham Index Plus Fund’s (GINDX) gross expense ratio is 1.25%, net expense ratio is 1.15%.

Annual Fund Operating Expenses reflect current fees as if the following changes were in effect during the entire fiscal year ended September 30, 2020: effective February 1, 2021, (a) the investment advisory agreement between FundVantage Trust, on behalf of the Fund, and Gotham Asset Management, LLC (“Gotham” or the “Adviser”) was amended to reduce the Fund’s annual investment advisory fee by the dollar amount of “total annual fund operating expenses after fee waivers” attributable to any Fund assets invested in other investment companies advised or sub-advised by Gotham (each an “underlying fund” and collectively, the “underlying funds”), and (b) the Fund’s expense limitation agreement was revised to limit the Fund’s “Other Expenses,” as set forth in the Fund's "Annual Fund Operating Expenses" table in the summary section of its prospectus, to 0.15%. The effect of the reduction is intended to provide that Gotham’s aggregate direct and indirect compensation from the Fund and any underlying fund, respectively, does not exceed the 1.00% annual investment advisory fee paid by the Fund prior to February 1, 2021.

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 “Other Expenses,” as set forth in the Fund's "Annual Fund Operating Expenses" table in the summary section of its prospectus, do not exceed 0.15% (on an annual basis) of average daily net assets of the Fund until January 31, 2022. The expense limitation is exclusive of certain expenses. See the Prospectus and Summary Prospectus for additional details.

The information on this page is for the Gotham Index Plus Fund's Institutional Share Class.

This site is intended for residents of the U.S. only. The information on the website does not constitute an offer for products or services, or a solicitation of an offer to any person outside of the United States who is prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence.

Mutual fund investing involves risks, including possible loss of principal. It is anticipated that the funds will frequently adjust the size of positions and thus may experience high portfolio turnover which may increase brokerage costs. Certain funds short securities and/or utilize leverage. Short sales theoretically involve unlimited loss potential since the market price of securities sold short may continuously increase. Leverage could result in greater losses than if the funds were not leveraged. Certain funds utilize swap agreements in their investment programs. The use of derivatives such as swaps exposes the funds to additional risks including increased volatility, lack of liquidity and possible losses greater than the fund’s initial investment. In addition, certain funds invest in large, mid and small cap companies. Small and mid cap equity securities may be more volatile and less liquid than the securities of larger companies. Please see each Fund’s prospectus and fact sheet for additional risks.

An investor should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. The prospectus and summary prospectus contain this and other information about the funds. The prospectuses and summary prospectuses are available by clicking here or by calling 877-974-6852. The prospectuses and summary prospectuses should be read carefully before investing.

Gotham Funds, which are registered with the United States Securities and Exchange Commission pursuant to the Investment Company Act of 1940, are distributed by Foreside Funds Distributors LLC (“Foreside”). Gotham Asset Management, LLC is the investment adviser to the Gotham Funds and is not affiliated with Foreside.

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