BNY Mellon Asset Servicing has been selected to provide its mutual fund turnkey software product, FundVantage Trust, which includes fund accounting and administration, custody, transfer agency and underwriter services, to Gotham Asset Management, LLC.
Gotham Asset Management, LLC, based in New York City, is utilizing FundVantage Trust to launch its Formula Investing Funds, which comprise two US equity and two international equity mutual funds. The Formula Investing Funds are based on the value-weighted investment methods of Joel Greenblatt, co-chief investment officer of Gotham and author of The New York Times best-selling books The Little Book That Beats the Market and The Big Secret for the Small Investor.
“By using BNY Mellon’s services, we were able to launch our mutual funds more quickly and less expensively than if we had to build out our own infrastructure,” says Blake Darcy, CEO of Gotham Asset Management, LLC.
Jay F. Nusblatt, head of US fund accounting and administration at BNY Mellon Asset Servicing, adds: “We continue to see strong demand for our FundVantage mutual funds solutions product. This product enables investment advisers to create their own mutual funds within a turnkey solution and is ideal for investment advisers and sponsors that want to focus on managing investments and distribution, while outsourcing most of the fund administration, processing and regulatory support functions to a team of experienced service providers.”
(CM)