Gotham Asset Management LLC, founded and managed by Joel Greenblatt, has added another fund to its growing portfolio. GARIX, Gotham Absolute Return Fund (MUTF:GARIX), was initiated on Aug 31, 2012. The minimum investment in the fund is $250,000, with an additional investment of $25,000. The gross expense ratio is 3.82 percent. The fund is based on Long/Short investments in US equity.
By numbers, the fund has 305 long holdings and 306 short holdings. However the exposure in long equity is 118 percent, while short exposure is -58 percent. The fund gained 1.7 percent in its first month of operation (Sep 2012), while on the HFRX Equity Hedge Index, the performance has been +0.78 percent by the end of September. GARIX gained 0.30 percent in the first three days of October. Trading began in September at $9.98, and opened today with 10.25. This is a 2.7 percent gain, with +0.27.
By Sector, maximum holdings are allocated in Information Technology (23 percent). Industrials take 11.7 percent of the portfolio, Health Care is 10 .8 percent, Consumer Discretionary 9.12 percent, Consumer Staples 4 percent, and Telecom 0.67 percent.
The portfolio managers for Absolute Return Fund (“the Fund”) are Joel Greenblatt and Robert Goldstein, both share the position of Chief Investment Officer for the Fund. Joel Greenblatt founded Gotham Capital in 1985. He established Gotham Asset Management LLC in 2008. The total assets under management exceed $1.4 billion, as of February 2012.