Company Press Release

Gotham Asset Management Launches Gotham Neutral Fund

September 26, 2013 - New York, NY – Gotham Asset Management, LLC (“Gotham”) is pleased to announce the launch of Gotham Neutral Fund (GONIX), the firm’s third long/short equity hedged fund available in the form of a mutual fund.   The fund seeks long-term capital appreciation with minimal correlation to the general stock market.   Stocks are selected using the fundamental equity research of Gotham’s Co-CIO’s, Joel Greenblatt and Robert Goldstein, and their team of investment analysts.  Gotham Neutral Fundtargets a neutral beta exposure to general market movements.

??Gotham’s three long/short equity mutual funds (the “Gotham Funds”) are:

Gotham Enhanced Return Fund (GENIX): 100% long (e.g.,170% long – 70% short = 100% long)

Gotham Absolute Return Fund (GARIX): 50% – 60% net long e.g., 120% long – 60% short = 60% long)

Gotham Neutral Fund (GONIX): Market Neutral

The funds employ Gotham’s fundamental stock equity research and systematic portfolio construction process to select long and short stock portfolios primarily from the U.S. large and mid-cap range.  Messrs. Greenblatt and Goldstein and their team of equity analysts employ Gotham’s proprietary analytical framework to evaluate stocks within its coverage universe on measures of absolute and relative value.

??The long portfolios of the Gotham Funds are rebalanced daily to weight most heavily those stocks that are priced at the largest discount to Gotham’s assessment of value.   In general, as a company appears cheaper its weight in the portfolio increases.  Similarly, the short portfolios are rebalanced daily to weight most heavily those stocks selling at the largest premium to Gotham’s measures of value.

??Risk for the Gotham Funds’ long/short portfolios is managed following 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 minimum investment for each of the Gotham Funds is $250,000.

Please read more about the Gotham Neutral Fund by visiting our website at www.gothamfunds.com.  If you have any questions, Client Service Representatives are available from 9am to 5pm ET, Monday through Friday, at 877-974-6852, or you can email us atgothamfunds@gothamassetmanagement.com.

Important Information

?Mutual fund investing involves risks, including possible loss of principal.  An investor should consider the investment objectives, risks, charges and expenses carefully before investing.  The relevant prospectus contains this and other important information.  Copies of the prospectuses are available on our website www.GothamFunds.com or by calling 877-974-6852.  The relevant prospectus should be read carefully before investing.  

??The Gotham Funds are recently formed mutual funds and have a limited history of operations.  It is anticipated the Gotham Funds will frequently adjust the size of its long and short positions so that they may experience high portfolio turnover which tends to increase fund brokerage costs and may negatively affect performance.  Short sales theoretically involve unlimited loss potential since the market price of securities sold short may continuously increase. 

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