GENDX — Gotham Enhanced Index Plus Fund

GENDX Fund Overview

GENDX — Gotham Enhanced Index Plus Fund is a US mutual fund managed by FundVantage Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: FundVantage Trust
• Category: United States Large Cap Blend / Core Equity
• Assets under management: $2.67M
• Ticker: GENDX
• SEC CIK: 0001388485
• SEC series ID: S000055226
• Share class ID: C000173677

GENDX Investment Objective and Strategy

Gotham Enhanced Index Plus Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by FundVantage Trust.

Investment objective

"The Gotham Enhanced Index Plus Fund (the ""Fund"") seeks to outperform the S&P 500 Index (the ""benchmark"") over most annual periods."

Principal investment strategy

"The Fund seeks to achieve its investment objective by investing under normal circumstances in long and short positions of equity securities, primarily U.S. common stocks. The Adviser will invest a portion of the assets in securities included in the benchmark but not necessarily in the same weightings within the benchmark (the ""Long Portfolio""). The Fund will also have additional exposure to a long/short portfolio (the ""Long/Short Portfolio""), consisting of long and short positions in securities in large-, mid- and small-sized companies, generally selected from securities included in the Russell 3000 Index (the ""Index""). The Long Portfolio will generally consist of long positions in the securities that comprise the benchmark that are weighted based on the Adviser's assessment of value and an individual security's benchmark weight.

The Long/Short Portfolio will consist of long positions in securities within the Index that the Adviser believes to be undervalued and short positions in securities that the Adviser believes to be overvalued, based on the Adviser's analysis of the issuer's financial reports and market valuation. The Fund intends to target a net exposure, which is the value of the Fund's long positions minus its short positions, of approximately 100%. The Adviser expects that the Fund's gross exposure, which is the value of the Fund's long positions plus its short positions, will be in the range of approximately 150 200%. In determining which individual securities to purchase or short for the Long/Short Portfolio, the Adviser employs a systematic, bottom-up, valuation approach based on the Adviser's proprietary analytical framework to identify companies that appear to be undervalued or overvalued on both an absolute and relative basis.

This approach consists of: Researching and analyzing each company in the Adviser's coverage universe according to a methodology that emphasizes fundamentals such as recurring earnings, cash flows, capital efficiency, capital structure, and valuation; Identifying and excluding companies that do not conform to the Adviser's valuation methodology or companies judged by the Adviser to have questionable financial reporting; Updating the analysis for earning releases, annual (Form 10-K) and quarterly (Form 10-Q) reports and other corporate filings; and Recording analysis in a centralized database enabling the Adviser to compare companies and identify longs and shorts based on the Adviser's assessment of value. Generally the long portion of the Long/Short Portfolio is weighted towards those stocks that are priced at the largest discount to the Adviser's assessment of value.

Similarly, the short portion of the Long/Short Portfolio is generally weighted towards those short positions selling at the largest premium to the Adviser's measures of value. The Long/Short Portfolio is also subject to the Adviser's risk controls, which include liquidity and diversification considerations. The Fund is rebalanced (generally daily) to maintain exposure levels, manage risk and reposition the portfolio to reflect earnings releases and other new information related to particular companies. Because the Fund generally rebalances its long and short positions within the Long/Short Portfolio on a daily basis, the Fund may experience a high portfolio turnover rate. Under normal market conditions, the Fund invests at least 80% of its net assets in securities of issuers included in the Russell 3000 Index at the time of purchase.

For purposes of this 80% investment policy, the term ""assets"" means net assets, plus the amount of any borrowings for investment purposes and reinvested proceeds from short sales. This 80% policy may be changed by the Board of Trustees upon 60 days' written notice to shareholders. The Fund is not an index fund and does not utilize a passive investment strategy. The Fund may invest in ETFs, including to manage capital flows. In addition, the Fund may lend portfolio securities to brokers, dealers and other financial organizations meeting capital and other credit requirements or other criteria established by the Fund's Board of Trustees. Loans of portfolio securities will be collateralized by liquid securities and cash. The Fund may invest cash collateral received in securities consistent with its principal investment strategy.

The Fund's investment of the proceeds of short sales creates leverage in the Fund which may amplify changes in the Fund's net asset value."

GENDX Costs and Fees

GENDX costs about $184 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.84%
• Gross expense ratio: 6.19%
• Portfolio turnover: 346%
• Brokerage commissions: 8.82 bps of average net assets (SEC N-CEN)

GENDX Cashflows

Over the 12 months to 2020-03, Gotham Enhanced Index Plus Fund had net inflows of $507.34K, from monthly SEC N-PORT filings.

GENDX Debt Constituents

No individual debt constituents are reported in Gotham Enhanced Index Plus Fund's latest SEC N-PORT filing.

GENDX Prospectus and SEC Filings

Official Gotham Enhanced Index Plus Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-02-20
• Prospectus (485BPOS) — filed 2019-02-22
• Prospectus supplement (497) — filed 2020-02-20
• Portfolio holdings (N-PORT) — filed 2020-05-20
• Portfolio holdings (N-PORT) — filed 2020-02-28
• Portfolio holdings (N-PORT) — filed 2019-11-19
• Annual census (N-CEN) — filed 2019-12-13
• Annual census (N-CEN) — filed 2018-12-14

Related Funds

Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:

• Vanguard Total Stock Market Index Fund (VTSMX)
• Vanguard 500 Index Fund (VFINX)
• iShares Core S&P 500 ETF (IVV)
• Fidelity 500 Index Fund (FXAIX)
• Vanguard Institutional Index Fund (VINIX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.