M&A - FundVantage Trust

Form Type: 497

Filing Date: 2025-04-10

Corporate Action: Merger

Type: New

Accession Number: 000182912625002539

Filing Summary: The Board of Trustees of FundVantage Trust has approved the reorganization of the Gotham Hedged Core Fund into the Gotham Index Plus Fund, expected to take place on or about May 9, 2025. Existing shareholders will receive shares in the Acquiring Fund without needing to take action. The reorganization is in the best interest of shareholders and is intended to be tax-free under the Internal Revenue Code of 1986. The investment objectives of both funds differ slightly, with the Gotham Hedged Core Fund aiming for long-term capital appreciation while the Index Plus Fund aims to outperform the S&P 500®. The reorganization was approved by a majority of shareholders and a preliminary information statement/prospectus has been filed. Fund closes to new accounts on April 17, 2025, with redemptions accepted until May 5, 2025.

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Form Type: 497

Filing Date: 2025-04-10

Corporate Action: Merger

Type: Update

Accession Number: 000182912625002540

Filing Summary: On April 10, 2025, FundVantage Trust announced the reorganization of the Gotham Defensive Long 500 Fund into the Gotham Index Plus Fund. The Board of Trustees approved this strategic move, results expected on or about May 9, 2025, with current shareholders of the Gotham Defensive Long 500 Fund receiving shares of the Acquiring Fund with no required action on their part. The investment objective of the Acquiring Fund seeks to outperform the S&P 500® Index, alongside maintaining substantially similar investment strategies and portfolio management. The reorganization is deemed to be tax-free under the U.S. Internal Revenue Code, avoiding any taxable gain or loss for shareholders. The Fund will close to new accounts on April 17, 2025, with existing shareholders allowed to make purchases until the closure. A preliminary information statement regarding this merger was submitted to the SEC on March 31, 2025, highlighting all aspects of the merger, as shareholders are encouraged to review such documents upon release for significant details regarding the transaction.

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Form Type: 497

Filing Date: 2025-04-10

Corporate Action: Merger

Type: Update

Accession Number: 000182912625002541

Filing Summary: The Board of Trustees of FundVantage Trust has approved the reorganization of the Gotham Enhanced 500 Plus Fund into the Gotham Index Plus Fund, expected on or about May 9, 2025. Existing shareholders will automatically receive shares of the Acquiring Fund without needing to take action. The Reorganization aims to be tax-free, meaning shareholders generally won't recognize taxable gains. The Fund will be closed to new accounts on April 17, 2025, but existing shareholders can make purchases until 4:00 p.m. on that day. Redemptions will be accepted until May 5, 2025. A preliminary information statement/prospectus related to the Reorganization was filed with the SEC on March 31, 2025, urging investors to read the upcoming materials.

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Form Type: N-14

Filing Date: 2025-03-31

Corporate Action: Merger

Type: New

Accession Number: 000182912625002215

Filing Summary: FundVantage Trust has filed an N-14 registration statement for the reorganization of Gotham Defensive Long 500 Fund, Gotham Enhanced 500 Plus Fund, and Gotham Hedged Core Fund (the 'Acquired Funds') into the Gotham Index Plus Fund (the 'Acquiring Fund'). This decision was made unanimously by the Board of Trustees after reviewing a recommendation from the investment adviser, Gotham Asset Management, LLC. The primary motivation for this merger involves potential operational efficiencies and the sharing of fixed expenses over a larger asset base, aimed to enhance shareholder interests. Upon completion, expected on May 9, 2025, shareholders of the Acquired Funds will hold Institutional Class shares of the Acquiring Fund, matching their aggregate net asset value from the Acquired Funds. The reorganization is structured to be tax-free for federal income tax purposes, indicating that shareholders will not recognize any capital gains or losses through this exchange. Gotham's management fees will decrease for shareholders moving from the Acquired Funds to the Acquiring Fund, leading to anticipated lower operating expenses for the combined fund. The merger does not require shareholder voting for the Gotham Defensive Long 500 Fund or Gotham Enhanced 500 Plus Fund, as they have not required consent, although major shareholders of the Gotham Hedged Core Fund approved the merge via written consent. The enclosed statement serves as an informational guide regarding this process and does not solicit proxies.

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Form Type: 497

Filing Date: 2025-02-24

Corporate Action: Merger

Type: New

Accession Number: 000182912625001167

Filing Summary: The document presents a combined information statement and prospectus regarding the reorganization (termed as Reorganization) of the Polen Bank Loan Fund, which is a series of FundVantage Trust (the Acquired Fund), into the Polen Floating Rate Income ETF (the Acquiring Fund). The reorganization has been recommended by Polen Capital Credit, LLC, the investment adviser, stating it would be in the best interests of the shareholders. The funds share the same investment objective: to achieve high current income and long-term capital appreciation. Post-reorganization, shareholders will receive shares in the Acquiring Fund with the same net asset value as their holdings in the Acquired Fund. The management fee for the combined fund will be reduced to 0.59% compared to 0.65% for the Acquired Fund, and the expense ratio is also expected to decrease. The transaction is structured to be tax-free under federal income tax rules, meaning shareholders will not recognize gain or loss. The reorganization is anticipated to be completed by March 21, 2025, with expenses borne by the adviser, not the funds. A majority of shareholders have approved the Reorganization by written consent.

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Form Type: 497

Filing Date: 2025-02-21

Corporate Action: Merger

Type: New

Accession Number: 000182912625001161

Filing Summary: On February 21, 2025, FundVantage Trust announced a significant reorganization involving the Polen Bank Loan Fund. The Board of Trustees approved the reorganization of the Fund into the Polen Floating Rate Income ETF, set to occur on or about March 21, 2025. This transition involves converting a mutual fund into an exchange-traded fund (ETF), aimed at providing existing and prospective shareholders with enhanced benefits such as lower overall net expenses, greater trading flexibility, and improved portfolio transparency. Shareholders of the Fund will receive shares of the new ETF without needing to take action, provided their accounts can hold ETF shares. If their accounts cannot accommodate ETF holdings, they must take specific steps to ensure they receive ETF shares or risk receiving cash equivalent to the NAV of their Fund shares upon completion of the reorganization. The reorganization is anticipated to be tax-free under U.S. Internal Revenue Code, meaning shareholders will typically not recognize taxable gains or losses; however, any cash received in the process may be taxable. Further details about the reorganization will be shared with shareholders around February 24, 2025, along with a closure of the Fund to new accounts starting March 10, 2025, and a reverse stock split occurring on March 11, 2025.

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Form Type: N-14

Filing Date: 2025-01-24

Corporate Action: Merger

Type: New

Accession Number: 000182912625000364

Filing Summary: FundVantage Trust, through its Registration Statement on Form N-14, has proposed the reorganization of the Polen Bank Loan Fund (the 'Acquired Fund') into the Polen Floating Rate Income ETF (the 'Acquiring Fund'). The Board of Trustees has unanimously approved this Reorganization, determining it to be in the best interest of shareholders following a recommendation from Polen Capital Credit, LLC, the funds' investment adviser. Both funds share the same investment adviser and objective, targeting high current income and long-term capital appreciation, while primarily investing in bank loans and high yield fixed income securities. The structure of the Acquiring Fund as an ETF is anticipated to attract more assets due to potentially lower expenses and greater flexibility for shareholders, allowing for trades throughout the trading day at current market prices. A tax-free reorganization is expected, meaning shareholders will not recognize any taxable gain or loss from exchanging shares. The Reorganization is scheduled for March 21, 2025, and does not require a vote, as it has already been approved by majority consent from shareholders of the Acquired Fund. Following the Reorganization, shareholders will receive shares in the Acquiring Fund equal in value to their holdings in the Acquired Fund, with no transactional fees imposed during the process.

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