Filed with the Securities and Exchange Commission on June 6, 2018
Securities Act of 1933 File No. 333-141120
Investment Company Act of 1940 File No. 811-22027
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | x | |
Pre-Effective Amendment No. | o | |
Post-Effective Amendment No. 192 | x | |
And | ||
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | x | |
Amendment No. 194 | x |
(Check Appropriate Box or Boxes)
FUNDVANTAGE TRUST
(Exact Name of Registrant as Specified in Charter)
301 Bellevue Parkway, Wilmington, DE 19809
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (856)-528-3500
Joel L. Weiss
JW Fund Management LLC
100 Springdale Road, Suite A3-416
Cherry Hill, NJ 08003
(Name and Address of Agent for Service)
Copies to:
Joseph V. Del Raso, Esq.
Pepper Hamilton LLP
3000 Two Logan Square
Philadelphia, PA 19103
It is proposed that this filing will become effective (check appropriate box)
x immediately upon filing pursuant to paragraph (b)
o on (date) pursuant to paragraph (b)
o 60 days after filing pursuant to paragraph (a)(1)
o on (date) pursuant to paragraph (a)(1)
o 75 days after filing pursuant to paragraph (a)(2)
o on (date) pursuant to paragraph (a)(2) of Rule 485.
If appropriate, check the following box:
o This post-effective amendment designates a new effective date for a previously filed post-effective amendment.
EXPLANATORY NOTE
This Post-Effective Amendment No. 192 to the Registrant’s Registration Statement on Form N-1A is filed for the sole purpose of submitting exhibits containing interactive data format risk/return summary information for the Pacific Capital U.S. Government Money Market Fund.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirement for effectiveness of this Post-Effective Amendment No. 192 to its Registration Statement on Form N-1A under Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment No. 192 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, duly authorized, in the City of Wilmington, State of Delaware on the 6th day of June 2018.
FUNDVANTAGE TRUST | ||
By: | /s/ Joel L. Weiss | |
Joel L. Weiss, President and CEO |
Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment No. 192 to the Registrant’s Registration Statement on Form N-1A has been signed below by the following persons in the capacities and on the dates indicated.
/s/ Robert J. Christian* | Trustee | June 6, 2018 | ||
Robert J. Christian | ||||
/s/ Iqbal Mansur* | Trustee | June 6, 2018 | ||
Iqbal Mansur | ||||
/s/ Nicholas M. Marsini, Jr.* | Trustee | June 6, 2018 | ||
Nicholas M. Marsini, Jr. | ||||
/s/ Nancy B. Wolcott* | Trustee | June 6, 2018 | ||
Nancy B. Wolcott | ||||
/s/ Stephen M. Wynne* | Trustee | June 6, 2018 | ||
Stephen M. Wynne | ||||
/s/ T. Richard Keyes | Treasurer and CFO | June 6, 2018 | ||
T. Richard Keyes | ||||
/s/ Joel L. Weiss | President and CEO | June 6, 2018 | ||
Joel L. Weiss | ||||
* By: | /s/ Joel L. Weiss | |
Joel L. Weiss | ||
Attorney-in-Fact |
EXHIBIT INDEX
EXHIBIT NO. | DESCRIPTION OF EXHIBIT | |
EX-101.INS | XBRL Instance Document | |
EX-101.SCH | XBRL Taxonomy Extension Schema Document | |
EX-101.CAL | XBRL Taxonomy Extension Calculation Linkbase | |
EX-101.DEF | XBRL Taxonomy Extension Definition Linkbase | |
EX-101.LAB | XBRL Taxonomy Extension Labels Linkbase | |
EX-101.PRE | XBRL Taxonomy Extension Presentation Linkbase |
Document and Entity Information |
Total |
---|---|
Prospectus [Line Items] | |
Document Type | 485BPOS |
Document Period End Date | May 16, 2018 |
Registrant Name | FundVantage Trust |
Central Index Key | 0001388485 |
Amendment Flag | false |
Document Creation Date | May 16, 2018 |
Document Effective Date | May 16, 2018 |
Prospectus Date | May 16, 2018 |
Pacific Capital U.S. Government Money Market Fund | Institutional Class | |
Prospectus [Line Items] | |
Trading Symbol | PCGXX |
Pacific Capital U.S. Government Money Market Fund | Investor Class | |
Prospectus [Line Items] | |
Trading Symbol | PCUXX |
Pacific Capital U.S. Government Money Market Fund | ||||||||||||||||||||||
PACIFIC CAPITAL U.S. GOVERNMENT MONEY MARKET FUND | ||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||
The Pacific Capital U.S. Government Money Market Fund (the “Fund”) is a money market fund that seeks to maintain a stable net asset value (“NAV”) of $1.00 per share. The Fund seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity by investing exclusively in high quality money market instruments. | ||||||||||||||||||||||
Fees and Expenses | ||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. | ||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment)
None. | ||||||||||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||
| ||||||||||||||||||||||
Example | ||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund’s Institutional and Investor class shares for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (reflecting any contractual fee waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||
| ||||||||||||||||||||||
Principal Investment Strategies | ||||||||||||||||||||||
The Fund seeks to achieve its objectives by investing, under normal circumstances, substantially all of its net assets in securities issued or guaranteed as to principal and interest by the U.S. government or by its agencies, instrumentalities or sponsored enterprises, and repurchase agreements backed by such securities.
The Fund operates as a “Government Money Market Fund” as defined in Rule 2a-7 under the Investment Company Act of 1940, as amended. This means that the Fund invests at least 99.5% of its total assets in (1) U.S. government securities, (2) repurchase agreements that are collateralized fully by U.S. government securities or cash, (3) cash, and/or (4) other money market mutual funds that operate as Government Money Market Funds. Under normal circumstances, the Fund invests at least 80% of its net assets in U.S. government securities and repurchase agreements that are fully collateralized by U.S. government securities. In contrast to the Fund’s 99.5% policy, the Fund’s 80% policy does not include cash.
The Fund makes significant investments in securities issued by U.S. government-sponsored entities. Such securities are neither issued nor guaranteed by the U.S. Treasury. Under unusual circumstances, as when appropriate U.S. government securities and repurchase agreements backed by such securities are unavailable, the Fund may also invest in cash equivalents, including money market funds.
The Securities and Exchange Commission imposes strict requirements on the investment quality, maturity, and diversification of the Fund’s investments. Accordingly, the Fund’s investments must have a remaining maturity of no more than 397 days and must be high quality. The Fund’s investment adviser may consider, among other things, credit, interest rate and prepayment risks as well as general market conditions when deciding whether to buy or sell investments for the Fund.
During extraordinary market conditions and interest rate environments, all or any portion of the Fund’s assets may be uninvested and will therefore not generate income. The Fund may not achieve its investment objectives during this time. | ||||||||||||||||||||||
Principal Risks | ||||||||||||||||||||||
An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation, any other government agency, or The Bank of Hawaii, its affiliates, subsidiaries or any other bank. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.
Stable NAV Risk: The risk that the Fund will not be able to maintain an NAV per share of $1.00 at all times. A significant enough market disruption or drop in market prices of securities held by the Fund, especially at a time when the Fund needs to sell securities to meet shareholder redemption requests, could cause the value of the Fund’s shares to decrease to a price less than $1.00 per share.
Interest Rate Risk: The risk that during periods of rising interest rates, the Fund’s yield (and the market value of its securities) will tend to be lower than prevailing market rates; in periods of falling interest rates, the Fund’s yield (and the market value of its securities) will tend to be higher.
Prepayment (Or Call) Risk: The risk that prepayment of the underlying collateral of some fixed-income securities may result in a decreased rate of return and a decline in value of those securities.
Debt Extension Risk: The risk that an issuer will exercise its right to pay principal on an obligation held by the Fund later than expected. This may happen during a period of rising interest rates. Under these circumstances, the value of the obligation will decrease and the Fund will suffer from the inability to invest in higher yielding securities.
Income Risk: The risk that falling interest rates will cause the Fund’s income to decline. Income risk is generally higher for short-term debt securities.
Management Risk: The risk that a strategy used by the Fund’s Adviser may fail to produce the intended results.
U.S. Government Securities Risk: The risk that the U.S. government will not provide financial support to its agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. Many U.S. government securities purchased by the Fund are not backed by the full faith and credit of the United States. It is possible that the issuers of such securities will not have the funds to meet their payment obligations in the future.
Credit Risk: The risk that the issuer of a fixed income security (potentially even the U.S. Government) may be unable to make timely payments of interest and principle. | ||||||||||||||||||||||
Performance Information | ||||||||||||||||||||||
The Fund does not yet have a full calendar year of performance, therefore, no performance information is presented.
Updated performance information is available on the Fund's website at https://www.boh.com/personal/non-banking-products/mutual-funds-investment-products.asp or by calling the Fund toll-free at (888) 678-6034. |
Label | Element | Value | ||
---|---|---|---|---|
Pacific Capital U.S. Government Money Market Fund | ||||
Prospectus [Line Items] | rr_ProspectusLineItems | |||
Risk/Return [Heading] | rr_RiskReturnHeading | PACIFIC CAPITAL U.S. GOVERNMENT MONEY MARKET FUND |
||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective |
||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Pacific Capital U.S. Government Money Market Fund (the “Fund”) is a money market fund that seeks to maintain a stable net asset value (“NAV”) of $1.00 per share. The Fund seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity by investing exclusively in high quality money market instruments. |
||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses |
||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. |
||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment)
None. |
||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example |
||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund’s Institutional and Investor class shares for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (reflecting any contractual fee waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies |
||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund seeks to achieve its objectives by investing, under normal circumstances, substantially all of its net assets in securities issued or guaranteed as to principal and interest by the U.S. government or by its agencies, instrumentalities or sponsored enterprises, and repurchase agreements backed by such securities.
The Fund operates as a “Government Money Market Fund” as defined in Rule 2a-7 under the Investment Company Act of 1940, as amended. This means that the Fund invests at least 99.5% of its total assets in (1) U.S. government securities, (2) repurchase agreements that are collateralized fully by U.S. government securities or cash, (3) cash, and/or (4) other money market mutual funds that operate as Government Money Market Funds. Under normal circumstances, the Fund invests at least 80% of its net assets in U.S. government securities and repurchase agreements that are fully collateralized by U.S. government securities. In contrast to the Fund’s 99.5% policy, the Fund’s 80% policy does not include cash.
The Fund makes significant investments in securities issued by U.S. government-sponsored entities. Such securities are neither issued nor guaranteed by the U.S. Treasury. Under unusual circumstances, as when appropriate U.S. government securities and repurchase agreements backed by such securities are unavailable, the Fund may also invest in cash equivalents, including money market funds.
The Securities and Exchange Commission imposes strict requirements on the investment quality, maturity, and diversification of the Fund’s investments. Accordingly, the Fund’s investments must have a remaining maturity of no more than 397 days and must be high quality. The Fund’s investment adviser may consider, among other things, credit, interest rate and prepayment risks as well as general market conditions when deciding whether to buy or sell investments for the Fund.
During extraordinary market conditions and interest rate environments, all or any portion of the Fund’s assets may be uninvested and will therefore not generate income. The Fund may not achieve its investment objectives during this time. |
||
Strategy Portfolio Concentration [Text] | rr_StrategyPortfolioConcentration | The Fund operates as a “Government Money Market Fund” as defined in Rule 2a-7 under the Investment Company Act of 1940, as amended. This means that the Fund invests at least 99.5% of its total assets in (1) U.S. government securities, (2) repurchase agreements that are collateralized fully by U.S. government securities or cash, (3) cash, and/or (4) other money market mutual funds that operate as Government Money Market Funds. Under normal circumstances, the Fund invests at least 80% of its net assets in U.S. government securities and repurchase agreements that are fully collateralized by U.S. government securities. In contrast to the Fund’s 99.5% policy, the Fund’s 80% policy does not include cash. |
||
Risk [Heading] | rr_RiskHeading | Principal Risks |
||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation, any other government agency, or The Bank of Hawaii, its affiliates, subsidiaries or any other bank. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.
Stable NAV Risk: The risk that the Fund will not be able to maintain an NAV per share of $1.00 at all times. A significant enough market disruption or drop in market prices of securities held by the Fund, especially at a time when the Fund needs to sell securities to meet shareholder redemption requests, could cause the value of the Fund’s shares to decrease to a price less than $1.00 per share.
Interest Rate Risk: The risk that during periods of rising interest rates, the Fund’s yield (and the market value of its securities) will tend to be lower than prevailing market rates; in periods of falling interest rates, the Fund’s yield (and the market value of its securities) will tend to be higher.
Prepayment (Or Call) Risk: The risk that prepayment of the underlying collateral of some fixed-income securities may result in a decreased rate of return and a decline in value of those securities.
Debt Extension Risk: The risk that an issuer will exercise its right to pay principal on an obligation held by the Fund later than expected. This may happen during a period of rising interest rates. Under these circumstances, the value of the obligation will decrease and the Fund will suffer from the inability to invest in higher yielding securities.
Income Risk: The risk that falling interest rates will cause the Fund’s income to decline. Income risk is generally higher for short-term debt securities.
Management Risk: The risk that a strategy used by the Fund’s Adviser may fail to produce the intended results.
U.S. Government Securities Risk: The risk that the U.S. government will not provide financial support to its agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. Many U.S. government securities purchased by the Fund are not backed by the full faith and credit of the United States. It is possible that the issuers of such securities will not have the funds to meet their payment obligations in the future.
Credit Risk: The risk that the issuer of a fixed income security (potentially even the U.S. Government) may be unable to make timely payments of interest and principle. |
||
Risk Lose Money [Text] | rr_RiskLoseMoney | It is possible to lose money by investing in the Fund. |
||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation, any other government agency, or The Bank of Hawaii, its affiliates, subsidiaries or any other bank. |
||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance Information |
||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The Fund does not yet have a full calendar year of performance, therefore, no performance information is presented.
Updated performance information is available on the Fund's website at https://www.boh.com/personal/non-banking-products/mutual-funds-investment-products.asp or by calling the Fund toll-free at (888) 678-6034. |
||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | (888) 678-6034 |
||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund does not yet have a full calendar year of performance, therefore, no performance information is presented. |
||
Pacific Capital U.S. Government Money Market Fund | Institutional Class | ||||
Prospectus [Line Items] | rr_ProspectusLineItems | |||
Management Fees (as a percentage of Assets) | rr_ManagementFeesOverAssets | 0.40% | ||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||
Other Expenses (as a percentage of Assets): | rr_OtherExpensesOverAssets | 0.08% | [1] | |
Expenses (as a percentage of Assets) | rr_ExpensesOverAssets | 0.48% | ||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 49 | ||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | $ 154 | ||
Pacific Capital U.S. Government Money Market Fund | Investor Class | ||||
Prospectus [Line Items] | rr_ProspectusLineItems | |||
Management Fees (as a percentage of Assets) | rr_ManagementFeesOverAssets | 0.40% | ||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||
Other Expenses (as a percentage of Assets): | rr_OtherExpensesOverAssets | 0.08% | [1] | |
Expenses (as a percentage of Assets) | rr_ExpensesOverAssets | 0.73% | ||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 75 | ||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | $ 233 | ||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Prospectus Date | rr_ProspectusDate | May 16, 2018 |
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