AN
INVESTMENT IN A FUND IS NOT A BANK DEPOSIT AND IS NOT INSURED BY THE
FEDERAL DEPOSIT
INSURANCE
CORPORATION OR ANY OTHER GOVERNMENT AGENCY. AN INVESTMENT IN A FUND
INVOLVES
INVESTMENT
RISKS, AND YOU MAY LOSE MONEY IN A
FUND. |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Acquired
Fund Fees and Expenses |
|
Total
Annual Fund Operating Expenses |
|
Expense
Limitation1 |
( |
Total
Annual Fund Operating Expenses After Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
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1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
- |
|
Returns
After Taxes on Distributions |
- |
- |
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
- |
|
J.P.Morgan
Emerging Markets Bond Index (EMBI™) Global Diversified Index (Gross, USD,
Unhedged) (reflects no
deduction
for fees, expenses or taxes) |
- |
- |
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Total
Annual Fund Operating Expenses |
|
Fee
Waiver and Expense Limitation1 |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
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|
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1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
|
|
Returns
After Taxes on Distributions |
- |
- |
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg
U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for
fees or expenses) |
- |
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Acquired
Fund Fees and Expenses |
|
Total
Annual Fund Operating Expenses1 |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
|
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|
|
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1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
|
|
Returns
After Taxes on Distributions |
- |
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Credit
Suisse Leveraged Loan Index (reflects no deduction for fees or
expenses) |
- |
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Total
Annual Fund Operating Expenses |
|
Expense
Limitation1 |
( |
Total
Annual Fund Operating Expenses After Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
|
|
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|
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|
|
1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
|
|
Returns
After Taxes on Distributions |
- |
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg
U.S. Credit Index (reflects no deduction for fees or
expenses) |
- |
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Acquired
Fund Fees and Expenses |
|
Total
Annual Fund Operating Expenses |
|
Fee
Waiver and Expense Limitation1 |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
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|
|
1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
- |
|
Returns
After Taxes on Distributions |
- |
- |
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
- |
|
J.P.
Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global
Diversified Index (Gross, USD,
Unhedged)
(reflects no deduction for fees, expenses or taxes) |
- |
- |
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
INVESTMENT
OBJECTIVEs |
PRINCIPAL
INVESTMENT STRATEGIES |
ADDITIONAL
FEES AND EXPENSES INFORMATION |
ADDITIONAL
PERFORMANCE INFORMATION |
OTHER
INVESTMENT PRACTICES AND
SECURITIES |
10
Percent of total assets (including securities lending collateral) (italic
type)
10 Percent
of net assets (excluding borrowings for investment purposes) (roman
type)
• No
specific percentage limitation on usage; limited only by the objectives
and strategies of the Fund
— Not
permitted |
Emerging
Markets
Debt
Fund |
High
Yield
Fund |
High
Yield
Floating
Rate |
Investment
Grade
Credit
Fund |
Local
Emerging
Markets
Debt
Fund |
Investment
Practices |
|
|
|
|
|
Borrowings |
33 1∕3 |
33 1∕3 |
33
1⁄2 |
33 1∕3 |
33 1∕3 |
Credit,
Interest Rate and Total Return Swaps |
• |
• |
• |
• |
• |
Cross
Hedging of Currencies |
• |
• |
• |
• |
• |
Currency
Swaps |
• |
• |
• |
• |
• |
Custodial
Receipts and Trust Certificates |
• |
• |
• |
• |
• |
Foreign
Currency Transactions |
• |
• |
• |
•5 |
• |
Futures
Contracts |
• |
• |
• |
• |
• |
Illiquid
Investments* |
15 |
15 |
15 |
15 |
15 |
Interest
Rate Caps, Floors and Collars |
• |
• |
• |
• |
• |
Investment
Company Securities (including ETFs)1 |
10 |
10 |
10 |
10 |
10 |
Mortgage
Dollar Rolls |
— |
— |
— |
• |
— |
Mortgage
Swaps |
— |
• |
• |
• |
— |
Options2 |
• |
• |
• |
• |
• |
Options
on Foreign Currencies3 |
• |
• |
• |
• |
• |
Repurchase
Agreements |
• |
• |
• |
• |
• |
Reverse
Repurchase Agreements |
• |
• |
• |
• |
• |
Short
Sales4 |
— |
— |
— |
— |
— |
Securities
Lending |
— |
33 1∕3 |
33 1∕3 |
— |
— |
When-Issued
Securities and Forward Commitments |
• |
• |
• |
• |
• |
10 Percent
of total assets (excluding securities lending collateral) (italic
type)
10 Percent
of Net Assets (including borrowings for investment purposes) (roman
type)
• No
specific percentage limitation on usage; limited only by the objectives
and strategies of the Fund
— Not
permitted* |
Emerging
Markets
Debt
Fund |
High
Yield
Fund |
High
Yield
Floating
Rate
Fund |
Investment
Grade
Credit
Fund |
Local
Emerging
Markets
Debt
Fund |
Investment
Securities |
|
|
|
|
|
Asset-Backed
Securities |
• |
• |
— |
• |
• |
Bank
Obligations |
• |
• |
• |
• |
• |
Collateralized
Loan Obligations |
• |
• |
• |
• |
• |
Convertible
Securities |
• |
• |
• |
• |
• |
Corporate
Debt Obligations
and
Trust Preferred Securities |
• |
• |
• |
• |
• |
Emerging
Country Securities |
• |
253 |
• |
103 |
• |
Floating
and Variable Rate Obligations |
• |
• |
80+8 |
• |
• |
Foreign
Securities1 |
• |
•4 |
• |
•4 |
• |
Loans
and Loan Participations |
• |
• |
• |
• |
• |
Mortgage-Related
Securities |
|
|
|
|
|
Adjustable
Rate Mortgage Loans |
— |
• |
— |
• |
— |
Collateralized
Mortgage Obligations |
— |
• |
— |
• |
— |
Fixed
Rate Mortgage Loans |
— |
• |
— |
• |
— |
Government
Issued Mortgage-Backed Securities |
— |
• |
— |
• |
— |
Multiple
Class Mortgage-Backed Securities |
— |
• |
— |
• |
— |
Privately
Issued Mortgage-Backed Securities |
— |
• |
— |
• |
— |
Stripped
Mortgage-Backed Securities |
— |
• |
— |
• |
— |
Non-Investment
Grade Fixed Income Securities |
• |
80+5 |
• |
—6 |
• |
Preferred
Stock, Warrants and Rights |
• |
• |
• |
• |
• |
Second
Lien Loans |
• |
• |
• |
• |
• |
Senior
Loans |
• |
• |
• |
• |
• |
Structured
Securities (which may include credit linked notes)2 |
• |
• |
• |
• |
• |
Taxable
Municipal Securities |
• |
• |
— |
• |
• |
Tax-Free
Municipal Securities |
• |
• |
— |
• |
• |
Temporary
Investments |
•7 |
•7 |
• |
• |
•7 |
U.S.
Government Securities |
• |
• |
• |
• |
• |
✓ Principal
Risk
• Additional
Risk |
Emerging
Markets
Debt
Fund |
High
Yield
Fund |
High
Yield
Floating
Rate
Fund |
Investment
Grade
Credit
Fund |
Local
Emerging
Markets
Debt
Fund |
Call/Prepayment |
• |
• |
• |
• |
• |
Collateralized
Loan Obligations and Other Collateralized Debt
Obligations |
• |
• |
• |
• |
• |
Conflict
of Interest |
|
|
✓ |
|
|
Counterparty |
✓ |
|
|
|
✓ |
Credit/Default |
✓ |
✓ |
✓ |
✓ |
✓ |
Currency |
|
|
|
|
• |
Cybersecurity |
• |
• |
• |
• |
• |
Derivatives |
✓ |
✓ |
✓ |
✓ |
✓ |
Distressed
Debt |
• |
• |
• |
|
• |
Emerging
Countries |
✓ |
• |
• |
• |
✓ |
ESG
Integration |
• |
• |
• |
• |
• |
Extension |
• |
• |
• |
• |
• |
Floating
and Variable Rate Obligations |
• |
• |
✓ |
• |
• |
Foreign |
✓ |
✓ |
✓ |
✓ |
✓ |
Geographic |
• |
|
|
|
• |
Interest
Rate |
✓ |
✓ |
• |
✓ |
✓ |
Large
Shareholder Transactions |
✓ |
✓ |
✓ |
✓ |
✓ |
Leverage |
• |
• |
• |
• |
• |
Liquidity |
✓ |
✓ |
✓ |
• |
✓ |
Loan-Related
Investments |
• |
✓ |
✓ |
• |
• |
Management |
• |
• |
• |
• |
• |
Market |
✓ |
✓ |
✓ |
✓ |
✓ |
Mortgage-Backed
and Other Asset-Backed Securities |
|
• |
• |
• |
|
Municipal
Securities |
• |
• |
|
✓ |
• |
NAV |
• |
• |
• |
• |
• |
Non-Diversification |
|
|
|
|
✓ |
Non-Hedging
Foreign Currency Trading |
• |
• |
• |
• |
✓ |
Non-Investment
Grade Fixed Income Securities |
✓ |
✓ |
✓ |
• |
✓ |
Other
Investment Companies |
✓ |
✓ |
✓ |
✓ |
✓ |
Reverse
Repurchase Agreements |
• |
• |
• |
• |
• |
Sector |
• |
|
|
|
• |
Sovereign
Default |
|
|
|
|
|
Economic |
✓ |
• |
• |
• |
✓ |
Political |
✓ |
• |
• |
• |
✓ |
Repayment |
✓ |
• |
• |
• |
✓ |
U.S.
Government Securities |
• |
• |
• |
• |
• |
INVESTMENT
ADVISER |
Investment
Adviser |
Fund |
Goldman
Sachs Asset Management, L.P.
200
West Street
New
York, NY 10282 |
Emerging
Markets Debt
High
Yield
High
Yield Floating Rate
Investment
Grade Credit
Local
Emerging Markets Debt
|
MANAGEMENT
FEES AND OTHER EXPENSES |
Fund |
Contractual
Management
Fee
Annual
Rate |
Average
Daily
Net
Assets |
Actual
Rate
For
the Fiscal
Year
Ended
March
31, 2023* |
Emerging
Markets Debt |
0.80% |
First $ 2
Billion |
0.79% |
|
0.72% |
Next $3
Billion |
|
|
0.68% |
Next $3
Billion |
|
|
0.67% |
Over $8
Billion |
|
High
Yield |
0.70% |
First $ 2
Billion |
0.67% |
|
0.63% |
Next $3
Billion |
|
|
0.60% |
Next $3
Billion |
|
|
0.59% |
Over $8
Billion |
|
High
Yield Floating Rate |
0.60% |
First $ 1
Billion |
0.53% |
|
0.54% |
Next $1
Billion |
|
|
0.51% |
Next $3
Billion |
|
|
0.50% |
Next $3
Billion |
|
|
0.49% |
Over $8
Billion |
|
Investment
Grade Credit |
0.34% |
First $ 1
Billion |
0.34% |
|
0.31% |
Next $1
Billion |
|
|
0.29% |
Next $3
Billion |
|
|
0.28% |
Next $3
Billion |
|
|
0.28% |
Over $8
Billion |
|
Local
Emerging Markets Debt |
0.80% |
First $ 2
Billion |
0.78% |
|
0.72% |
Next $3
Billion |
|
|
0.68% |
Next $3
Billion |
|
|
0.67% |
Over $8
Billion |
|
FUND
MANAGERS |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible |
Five
Year Employment History |
Kay
Haigh
Managing
Director,
Global
Co-Head of Emerging
Markets |
Portfolio
Manager—
Emerging
Markets Debt Fund
Local
Emerging Markets Debt
Fund |
Since
2020 |
Mr.
Haigh is the Global Co-Head of Emerging Markets. Prior to
joining
the Investment Adviser, he was an emerging markets
portfolio
manager at Stone Milliner Asset Management, and he was
global
head of emerging markets at Morgan Stanley Investment
Management. |
Nicholas
Saunders
Managing
Director |
Portfolio
Manager—
Emerging
Markets Debt Fund |
Since
2023 |
Mr.
Saunders is Head of the Emerging Markets Corporate Debt team
and
a member of the Fixed Income Portfolio Management team. He
joined
the Investment Adviser in 2001. |
Angus
Bell
Managing
Director |
Portfolio
Manager—
Local
Emerging Markets Debt
Fund |
Since
2023 |
Mr.
Bell is a Portfolio Manager on the Emerging Markets Debt team.
He
joined the Investment Adviser in 2005. |
Benjamin
Johnson, CFA
Managing
Director |
Portfolio
Manager—
Investment
Grade Credit Fund |
Since
2003 |
Mr.
Johnson is Head of the Global Investment Grade Credit team
and
Global Head of Corporate Credit. He joined the Investment
Adviser
in 1998 and specializes in credit research. |
Robert
Magnuson
Managing
Director
|
Portfolio
Manager—
High
Yield Fund |
Since
2014 |
Mr.
Magnuson is a Portfolio Manager for High Yield Strategies. He
joined
the Investment Adviser in 2006. |
Peter
Campo
Managing
Director,
Global
Co-Head of High Yield and
Bank
Loans |
Portfolio
Manager—
High
Yield Fund
High
Yield Floating Rate Fund |
Since
2023
2018 |
Mr.
Campo is Global Co-Head of High Yield and Bank Loans. He
joined
the Investment Adviser in 2018. Prior to joining the
Investment
Adviser, he worked at Eaton Vance from 2003 to 2018
as a
portfolio manager and research analyst. |
Aakash
Thombre, CFA
Managing
Director,
Global
Co-Head of High Yield and
Bank
Loans |
Portfolio
Manager—
High
Yield Fund
High
Yield Floating Rate Fund |
Since
2023
2023 |
Mr.
Thombre is Global Co-Head of High Yield and Bank Loans. He
joined
the Investment Adviser in 2007. |
Ashish
Shah
Managing
Director,
Global
Chief Investment Officer of
Public
Investing |
Portfolio
Manager—
High
Yield Fund
High
Yield Floating Rate Fund |
Since
2021
2021 |
Mr.
Shah is Global Chief Investment Officer of Public Investing. He
joined
the Investment Adviser in 2018. Mr. Shah was previously at
AllianceBernstein
from 2010 to 2018, where he was most recently
the
Head of Fixed Income and Chief Investment Officer of Global
Credit. |
DISTRIBUTOR
AND TRANSFER AGENT |
ACTIVITIES
OF GOLDMAN SACHS AND ITS AFFILIATES AND OTHER
ACCOUNTS
MANAGED BY GOLDMAN SACHS |
Fund |
Investment
Income
Dividends |
Capital
Gains
Distributions | |
Declared |
Paid |
Declared
and Paid | |
Emerging
Markets Debt |
Daily |
Monthly |
Annually |
High
Yield |
Daily |
Monthly |
Annually |
High
Yield Floating Rate |
Daily |
Monthly |
Annually |
Investment
Grade Credit |
Daily |
Monthly |
Annually |
Local
Emerging Markets Debt |
Daily |
Monthly |
Annually |
Important
Notice: |
Class
P Shares generally are available to the following
investors: |
◼Clients
of the Goldman Sachs Private Wealth Management business unit (“GS PWM”)
that custody their positions at
Goldman
Sachs & Co. LLC (“Goldman Sachs”); |
◼Clients
of The Goldman Sachs Trust Company, N.A. or The Goldman Sachs Trust
Company of Delaware (collectively, the
“Trust
Companies”) that custody their positions at Goldman
Sachs; |
◼Clients
of The Ayco Company, L.P. (“Ayco”) that either custody their positions at
Goldman Sachs or with certain
intermediaries
that are authorized to offer Class P Shares (“Authorized Institutions”)
(such clients of GS PWM, the Trust
Companies,
and Ayco are collectively referred to herein as “GS Clients”);
or |
◼Other
investors at the discretion of Goldman Sachs Trust’s (the “Trust”)
officers. |
You
may only purchase Class P Shares in accordance with the eligibility
criteria described above. If you are a GS Client and
propose
to transfer your shares to another institution for any reason, or if you
are no longer a GS Client, you may be required to
redeem
your shares of the Fund, or at the discretion of the Trust’s officers, you
may be able hold Class P Shares through another
institution,
which must be an Authorized Institution and the basis on which you hold
such Class P Shares may be limited to hold
and
redeem only. If available in such circumstances, in the alternative you
may be able to choose to exchange your shares of the
Fund
for a different share class offered by the Fund or another Goldman Sachs
Fund, which may be offered in another
Prospectus.
There is no guarantee that a different share class offered by the Fund
will be available to clients of the institution to
which
you intend to transfer your shares or that an option to exchange will be
made available. Moreover, the shares you receive
in
any exchange are subject to different (and possibly higher) fees and
expenses (which affect performance). Information
regarding
these other share classes may be obtained from the institution to which
you intend to transfer your shares or from the
Transfer
Agent by calling the number on the back cover of the
Prospectus. |
A
redemption is a taxable transaction for federal income tax purposes, and
may also be subject to state and local taxes. You
should
consult your tax adviser concerning the potential tax consequences of
investing in Class P Shares. None of the Trust, the
Investment
Adviser, Goldman Sachs, the Trust Companies, Ayco or an Authorized
Institution will be responsible for any loss in
an
investor’s account or tax liability resulting from a redemption or
exchange of Class P Shares. For more information about
exchanges,
please see “How to Sell Shares—Can I Exchange My Investment From One
Goldman Sachs Fund To Another
Goldman
Sachs Fund.” |
How
To Buy Shares |
NAV
= |
(Value
of Assets of the Class)
–
(Liabilities of the Class) |
|
Number
of Outstanding Shares of the
Class |
How
To Sell Shares |
Shareholder
Services |
Restrictions
on Excessive Trading
Practices |
DISTRIBUTIONS |
SALES
AND EXCHANGES |
OTHER
INFORMATION |
A. General
Portfolio Risks |
B.
Other Portfolio Risks |
C.
Portfolio Securities and
Techniques |
|
Goldman
Sachs Emerging Markets Debt Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$10.65 |
$11.99 |
$10.37 |
$12.20 |
$12.59 | |||||
Net
investment income(b) |
0.46 |
0.47 |
0.48 |
0.55 |
0.55 | |||||
Net
realized and unrealized gain (loss) |
(1.52
) |
(1.32
) |
1.60 |
(1.84
) |
(0.40
) | |||||
Total
from investment operations |
(1.06
) |
(0.85
) |
2.08 |
(1.29
) |
0.15 | |||||
Distributions
to shareholders from net investment income |
(0.71
) |
(0.49
) |
(0.46
) |
(0.29
) |
(0.50
) | |||||
Distributions
to shareholders from return of capital |
— |
— |
— |
(0.25
) |
(0.04
) | |||||
Total
distributions |
(0.71
) |
(0.49
) |
(0.46
) |
(0.54
) |
(0.54
) | |||||
Net
asset value, end of period |
$8.88 |
$10.65 |
$11.99 |
$10.37 |
$12.20 | |||||
Total
return(c) |
(9.81
)% |
(7.43
)% |
20.12
% |
(11.10
)% |
1.46
% | |||||
Net
assets, end of period (in 000s) |
$30,394 |
$35,720 |
$35,499 |
$14,207 |
$14,908 | |||||
Ratio
of net expenses to average net assets |
0.85
% |
0.85
% |
0.85
% |
0.86
% |
0.85
%(d) | |||||
Ratio
of total expenses to average net assets |
0.95
% |
0.88
% |
0.90
% |
0.91
% |
0.91
%(d) | |||||
Ratio
of net investment income to average net assets |
5.03
% |
3.97
% |
3.96
% |
4.49
% |
5.00
%(d) | |||||
Portfolio
turnover rate(e) |
53
% |
32
% |
79
% |
87
% |
80
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(d) |
Annualized. |
(e) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs High Yield Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$6.02 |
$6.41 |
$5.48 |
$6.33 |
$6.42 | |||||
Net
investment income(b) |
0.30 |
0.28 |
0.33 |
0.35 |
0.33 | |||||
Net
realized and unrealized gain (loss) |
(0.57
) |
(0.36
) |
0.94 |
(0.83
) |
(0.08
) | |||||
Total
from investment operations |
(0.27
) |
(0.08
) |
1.27 |
(0.48
) |
0.25 | |||||
Distributions
to shareholders from net investment income |
(0.30
) |
(0.28
) |
(0.34
) |
(0.37
) |
(0.34
) | |||||
Distributions
to shareholders from return of capital |
(0.02
) |
(0.03
) |
— |
—
(c) |
— | |||||
Total
distributions |
(0.32
) |
(0.31
) |
(0.34
) |
(0.37
) |
(0.34
) | |||||
Net
asset value, end of period |
$5.43 |
$6.02 |
$6.41 |
$5.48 |
$6.33 | |||||
Total
return(d) |
(4.37
)% |
(1.47
)% |
23.35
% |
(8.04
)% |
4.00
% | |||||
Net
assets, end of period (in 000s) |
$1,294,140 |
$1,417,912 |
$1,575,340 |
$1,331,465 |
$1,604,685 | |||||
Ratio
of net expenses to average net assets |
0.70
% |
0.71
% |
0.74
% |
0.74
% |
0.74
%(e) | |||||
Ratio
of total expenses to average net assets |
0.77
% |
0.76
% |
0.77
% |
0.76
% |
0.77
%(e) | |||||
Ratio
of net investment income to average net assets |
5.47
% |
4.44
% |
5.31
% |
5.55
% |
5.67
%(e) | |||||
Portfolio
turnover rate(f) |
39
% |
56
% |
71
% |
80
% |
59
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Amount
is less than $0.005 per share. |
(d) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(e) |
Annualized. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs High Yield Floating Rate Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$9.25 |
$9.37 |
$7.91 |
$9.37 |
$9.69 | |||||
Net
investment income(b) |
0.55 |
0.32 |
0.35 |
0.49 |
0.45 | |||||
Net
realized and unrealized gain (loss) |
(0.46
) |
(0.12
) |
1.47 |
(1.46
) |
(0.33
) | |||||
Total
from investment operations |
0.09 |
0.20 |
1.82 |
(0.97
) |
0.12 | |||||
Distributions
to shareholders from net investment income |
(0.61
) |
(0.32
) |
(0.36
) |
(0.49
) |
(0.44
) | |||||
Net
asset value, end of period |
$8.73 |
$9.25 |
$9.37 |
$7.91 |
$9.37 | |||||
Total
return(c) |
1.13
% |
2.18
% |
23.49
% |
(11.11
)% |
1.32
% | |||||
Net
assets, end of period (in 000s) |
$2,075,297 |
$4,252,333 |
$1,681,575 |
$1,132,605 |
$2,215,089 | |||||
Ratio
of net expenses to average net assets after interest
expense |
0.71
% |
0.62
% |
0.71
% |
0.69
% |
0.62
% | |||||
Ratio
of net expenses to average net assets before interest
expense |
0.65
% |
0.62
% |
0.70
% |
0.67
% |
0.62
% | |||||
Ratio
of total expenses to average net assets after interest
expense |
0.72
% |
0.64
% |
0.76
% |
0.69
% |
0.63
% | |||||
Ratio
of net investment income to average net assets |
6.16
% |
3.40
% |
3.94
% |
5.22
% |
5.04
%(d) | |||||
Portfolio
turnover rate(e) |
24
% |
26
% |
53
% |
39
% |
69
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(d) |
Annualized. |
(e) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Investment Grade Credit Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$8.76 |
$9.59 |
$8.96 |
$9.16 |
$8.93 | |||||
Net
investment income(b) |
0.27 |
0.23 |
0.27 |
0.31 |
0.30 | |||||
Net
realized and unrealized gain (loss) |
(0.76
) |
(0.58
) |
0.78 |
(0.07
) |
0.23 | |||||
Total
from investment operations |
(0.49
) |
(0.35
) |
1.05 |
0.24 |
0.53 | |||||
Distributions
to shareholders from net investment income |
(0.27
) |
(0.20
) |
(0.29
) |
(0.32
) |
(0.30
) | |||||
Distributions
to shareholders from net realized gains |
— |
(0.22
) |
(0.13
) |
(0.12
) |
— | |||||
Distributions
to shareholders from return of capital |
(0.03
) |
(0.06
) |
— |
— |
— | |||||
Total
distributions |
(0.30
) |
(0.48
) |
(0.42
) |
(0.44
) |
(0.30
) | |||||
Net
asset value, end of period |
$7.97 |
$8.76 |
$9.59 |
$8.96 |
$9.16 | |||||
Total
return(c) |
(5.39
)% |
(4.10
)% |
11.61
% |
2.45
% |
6.12
% | |||||
Net
assets, end of period (in 000s) |
$178,640 |
$176,368 |
$156,039 |
$189,611 |
$196,668 | |||||
Ratio
of net expenses to average net assets |
0.37
% |
0.37
% |
0.37
% |
0.37
% |
0.37
%(d) | |||||
Ratio
of total expenses to average net assets |
0.45
% |
0.45
% |
0.45
% |
0.46
% |
0.51
%(d) | |||||
Ratio
of net investment income to average net assets |
3.39
% |
2.38
% |
2.73
% |
3.22
% |
3.57
%(d) | |||||
Portfolio
turnover rate(e) |
58
% |
31
% |
69
% |
76
% |
82
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(d) |
Annualized. |
(e) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Local Emerging Markets Debt Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$4.99 |
$5.55 |
$4.97 |
$5.74 |
$6.75 | |||||
Net
investment income(b) |
0.24 |
0.21 |
0.22 |
0.26 |
0.31 | |||||
Net
realized and unrealized gain (loss) |
(0.33
) |
(0.55
) |
0.58 |
(0.78
) |
(1.03
) | |||||
Total
from investment operations |
(0.09
) |
(0.34
) |
0.80 |
(0.52
) |
(0.72
) | |||||
Distributions
to shareholders from net investment income |
(0.37
) |
(0.22
) |
— |
—
(c) |
— | |||||
Distributions
to shareholders from return of capital |
— |
— |
(0.22
) |
(0.25
) |
(0.29
) | |||||
Total
distributions |
(0.37
) |
(0.22
) |
(0.22
) |
(0.25
) |
(0.29
) | |||||
Net
asset value, end of period |
$4.53 |
$4.99 |
$5.55 |
$4.97 |
$5.74 | |||||
Total
return(d) |
(1.30
)% |
(6.42
)% |
16.27
% |
(9.82
)% |
(10.66
)% | |||||
Net
assets, end of period (in 000s) |
$16,196 |
$20,864 |
$29,194 |
$30,957 |
$52,263 | |||||
Ratio
of net expenses to average net assets |
0.91
% |
0.91
% |
0.90
% |
0.92
% |
0.90
%(e) | |||||
Ratio
of total expenses to average net assets |
2.15
% |
1.41
% |
1.50
% |
1.28
% |
1.24
%(e) | |||||
Ratio
of net investment income to average net assets |
5.38
% |
3.73
% |
3.87
% |
4.48
% |
5.75
%(e) | |||||
Portfolio
turnover rate(f) |
168
% |
123
% |
111
% |
84
% |
117
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Rounds
to less than $0.005 per share. |
(d) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(e) |
Annualized. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
FOR
MORE INFORMATION |
|
|
|
◼ By
telephone: |
1-800-621-2550 |
|
◼ By
mail: |
Goldman
Sachs Funds
71
South Wacker Drive, Suite 1200
Chicago,
IL 60606 |
|
◼ On
the Internet: |
SEC
EDGAR database – http://www.sec.gov |
|