July 26, 2011

BNY Mellon Asset Servicing Selected to Provide Mutual Fund Services to Formula Investing Funds

Fund Accounting and Administration, Custody, Transfer Agency Included in Mandate

NEW YORK, July 26, 2011 — BNY Mellon Asset Servicing, the global leader in investment services, has been selected to provide its mutual fund turnkey solutions 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 U.S. 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," said Blake Darcy, chief executive officer of Gotham Asset Management, LLC.

"We continue to see strong demand for our FundVantage mutual funds solutions product," said Jay F. Nusblatt, head of U.S. fund accounting and administration at BNY Mellon Asset Servicing.  "This product enables investment advisors to create their own mutual funds within a turnkey solution and is ideal for investment advisors 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."

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities including custody and fund services, securities lending, performance and analytics, and execution support services.  

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team.  It has $26.3 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day.  BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).  Additional information is available at www.bnymellon.com and through Twitter @bnymellon.