Joel Greenblatt, the hedge fund manager who wrote the bestseller The Little Book That Beats the Market, is preparing to roll out six mutual funds. [SEC filing] The funds will utilize the "Magic Formula" system Greenblatt discussed in his 2006 book.

The funds, branded under the Formula Investing banner, are U.S. Value 1000, U.S. Value Select, Global Value, Global Value Select, International Value and International Value Select.

Greenblatt's Gotham Asset Management will serve as investment adviser, BNY Mellon Distributors will be the principal underwriter, BNY Mellon Investment Servicing will handle administration, accounting and transfer agency duties and PFPC Trust Company will serve as custodian.

Morningstar analyst Ryan Leggio picked up on Greenblatt's plan in his Fund Times column on Thursday. 

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