Gotham Index Plus (GINDX)

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

NAV $26.34

Daily Return 0.11%

Since Inception Return (Cum)216.12%

Ticker GINDX
CUSIP 360875579
Minimum Investment $100,000
Fund Net Assets $812,542,082
Inception Date March 31, 2015
As of 09/10/2024

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.

*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 call 877-974-6852.

The Gotham Index Plus Fund’s (GINDX) gross expense ratio is 1.24%, 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, 2026. 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.

Performance as of 08/31/2024

 MonthTrailing 3
Months		YTD1 YEAR3 YEAR5 YEARSince Inception Annualized1Since Inception Cumulative1
Gotham Index Plus Fund - GINDX2.50%8.71%21.55%29.23%12.96%16.27%13.50%229.68%
S&P 5002.43%7.39%19.53%27.14%9.38%15.92%13.31%224.40%

1Inception date: March 31, 2015

Please click here to view quarterly standardized performance

Composition & Holdings as of 06/30/2024

PORTFOLIO EXPOSURES

Long

190.65%

Short

-91.72%

Net

98.93%

Gross

282.37%

PORTFOLIO COMPOSITION

Long Holdings

291

Short Holdings

208

NET SECTOR ALLOCATION (% OF EQUITY)

Information Tech

32.15%

Consumer Disc

16.11%

Financials

14.98%

Communication Services

12.84%

Industrials

10.95%

Health Care

8.17%

Consumer Staples

7.68%

Energy

2.90%

Materials

1.52%

Real Estate

-1.24%

Utilities

-7.14%

*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 call 877-974-6852.

The S&P 500 Total Return Index is a commonly followed equity index and is generally considered a barometer of the U.S. equity market. Returns for the S&P 500 Total Return Index include the reinvestment of income and do not include transaction fees, management fees or any other costs. The performance and volatility of the fund will be different than those of the index. It is not possible to invest directly in the index.

The Gotham Index Plus Fund’s (GINDX) gross expense ratio is 1.24%, 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, 2026. The expense limitation is exclusive of certain expenses. See the Prospectus and Summary Prospectus for additional details.

Portfolio composition is subject to change at any time.

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

Fees & Minimums

PURCHASE OF SHARES

Investment Minimum**

$100,000

Additional Investment Minimum

$250

ANNUAL FUND OPERATING EXPENSES

Gross Expense Ratio1

1.24%

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%

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

**Please see the prospectus for investment minimum and details for the Investor Share Class (GNNDX).

1Annual 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” to 0.15% (see footnote 2 below). 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.

2The 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, 2026. 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.

INDIVIDUAL INVESTORS

Purchase Directly through the Fund Family (See Below)

OR

Available at the Following Firms:

  • 1.

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

     

    CLICK HERE for the application

     

    CLICK HERE for the IRA Disclosures and Distribution Forms

  • 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.

 

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