The fund seeks to achieve its investment objective by investing under normal circumstances in long and short positions of equity and equity-related securities, primarily companies traded on U.S. markets. It generally takes long positions in securities 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.

Nasdaq

GARIX

The investment seeks long-term capital appreciation. The fund seeks to achieve its investment objective by investing under normal circumstances in long and short positions of equity and equity-related securities, primarily companies traded on U.S. markets. It seeks a total return greater than that of the S&P 500 Index over a full market cycle, which is a period that includes both a bull (rising) market and a bear (falling) market cycle.

GENIX

The fund invests in long and short positions of equity and equity-related securities. The Adviser will invest a portion of the assets in securities intended to track the performance of the S&P 500 Index and additional exposure to a long/short portfolio, consisting of long and short positions, generally selected from the largest 500 to 700 U.S. companies by market capitalization. The fund is not a passive index fund, but instead utilizes an enhanced index or "index plus" strategy.

GINDX

The Gotham Neutral Fund is a market neutral long/short U.S. equity fund that seeks long-term capital appreciation with minimal correlation to the general stock market, taking long positions in securities believed to be undervalued and short positions in securities believed to be overvalued.

GONIX

The investment seeks long-term capital appreciation. The fund seeks to achieve its investment objective by investing under normal circumstances in equity securities. It invests at least 80% of its assets in securities of issuers included in the S&P 500 Index (the "index") at the time of purchase, but not necessarily at index weightings. The Adviser seeks to capitalize on pricing inefficiencies in the market by employing 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.

GSPFX

The advisor intends to allocate the majority of its assets among mutual funds advised by Gotham (each an "underlying fund" and collectively, the "underlying funds"). Each of the underlying funds utilize a long/short equity strategy with varying levels of net exposure (long positions less short positions). The adviser expects that the net exposure for the fund will be in the range of approximately 40% - 95% during normal market conditions. The fund's allocation to the underlying funds and investments may be rebalanced based on the adviser's current assessment of market conditions.

GTRFX

The investment seeks long-term capital appreciation. The fund seeks a total return greater than that of the S&P 500 Index over a full market cycle, which is a period that includes both a bull (rising) market and a bear (falling) market cycle. It will primarily invest in U.S. common stocks of companies listed in the S&P 500 Index, but may invest in other large capitalization companies, primarily selected from the largest 500 - 700 U.S. companies based on market capitalization.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield	Risk / Return Rank
GARIX	Gotham Absolute Return Fund	Long-Short	Aug 30, 2012	1.50%	0.28%	8.69%	7.16%	85
GENIX	Gotham Enhanced Return Fund	Mid Cap Blend Equities	May 31, 2013	1.50%	-0.61%	12.29%	2.08%	73
GINDX	Gotham Index Plus Fund	Large Cap Blend Equities	Mar 31, 2015	1.15%	-4.73%	14.17%	3.43%	58
GONIX	Gotham Neutral Fund Institutional Class	Equity Market Neutral	Aug 30, 2013	1.51%	-1.13%	3.93%	0.14%	20
GSPFX	Gotham Enhanced S&P 500 Index Fund	Large Cap Blend Equities	Dec 30, 2016	0.50%	-3.23%	—	9.99%	46
GTRFX	Gotham Total Return Fund	Long-Short	Mar 30, 2015	0.00%	-0.53%	8.10%	9.58%	49
GVALX	Gotham Large Value Fund	Large Cap Value Equities	Dec 31, 2015	1.05%	3.27%	—	11.44%	44

Gotham Mutual Funds List

Risk vs. Return Scatterplot