%PDF-1.3
%
1 0 obj
<>stream
application/pdfdataActive
Apple pstopdfVersion=1.4;GeneratorContact=am-it-camra-support@gs.com;DocumentType=MR;Language=en;ShareClass=LU0820548633;RecordDate=2018-05-31;PublicationCountry=AT,LU,SE,SG,GB,IT,NO,FR,CH,GR,ES,NL,BE.RES,DE,DK,FI,CL,IE;ModificationDate=2018-06-13;
2018-06-13T07:17:49+01:002018-06-14T08:52:35-04:00
endstream
endobj
2 0 obj
<>
endobj
4 0 obj
<>
endobj
3 0 obj
<>
endobj
5 0 obj
<>
endobj
6 0 obj
<>
endobj
7 0 obj
<>
endobj
8 0 obj
<>
endobj
9 0 obj
<>
endobj
11 0 obj
<>/ProcSet[/PDF/Text]/ColorSpace<>/Font<>>>
endobj
10 0 obj
<>stream
BT
/TT2 1 Tf
12 0 0 12 0 829.8892 Tm
0 0 0 0 k
/GS1 gs
0 Tc
0 Tw
(PV100313)Tj
ET
1 0.84 0.31 0.17 k
27.5 814.389 369 -86 re
f
BT
/F1 1 Tf
19 0 0 19 33.5 793.3892 Tm
0 0 0 0 k
(Goldman Sachs Global Credit Portfolio )Tj
0 -1.2632 TD
(\(Hedged\))Tj
/F2 1 Tf
14 0 0 14 33.5 743.3892 Tm
0.53 0.32 0.11 0 k
-0.0071 Tc
(A sub-fund of Goldman Sachs Funds, SICAV)Tj
ET
q
0.6 i
396.5 728.389 85 86 re
W n
396.5 814.389 85 -86 re
f
Q
q
0.6 i
399.5 729.389 80 78 re
W n
399.5 807.389 80 -78 re
f
Q
399.5 807.389 80 -30.5 re
f
q
0.6 i
399.5 784.889 80 22.5 re
W n
399.5 807.389 80 -22.5 re
f
Q
BT
/F1 1 Tf
9 0 0 9 399.5 800.3892 Tm
1 0.84 0.31 0.17 k
0 Tc
(Overall Morningstar )Tj
0 -1.2222 TD
(Rating)Tj
4.5 0 0 4.5 422.504 792.8892 Tm
( TM)Tj
ET
q
0.6 i
399.5 776.889 80 8 re
W n
0.53 0.32 0.11 0 k
399.5 784.889 80 -8 re
f
Q
0 0 0 0 k
0.2 i
413.894 781.889 m
417.063 781.889 l
414.51 779.975 l
415.5 776.938 l
412.959 778.809 l
410.417 776.938 l
411.418 779.975 l
408.844 781.889 l
412.002 781.889 l
412.959 784.848 l
f
q
399.5 776.889 27 8 re
W n
402.658 781.89 m
399.5 781.89 l
402.074 779.976 l
401.073 776.939 l
403.615 778.81 l
406.156 776.939 l
405.166 779.976 l
407.719 781.89 l
404.55 781.89 l
403.615 784.848 l
f
423.331 781.89 m
426.5 781.89 l
423.947 779.976 l
424.937 776.939 l
422.396 778.81 l
419.854 776.939 l
420.855 779.976 l
418.281 781.89 l
421.439 781.89 l
422.396 784.849 l
f
Q
0 0.97 1 0.5 k
481.5 814.389 85 -58.5 re
f
q
0.6 i
481.5 755.889 42.5 58.5 re
W n
481.5 814.389 42.5 -58.5 re
f
Q
BT
/F3 1 Tf
36 0 0 36 485.568 777.3892 Tm
0 0.485 0.5 0.25 k
-0.0222 Tc
(05)Tj
ET
0 0.97 1 0.5 k
524 814.389 42.5 -58.5 re
f
BT
36 0 0 36 524 777.3892 Tm
0 0 0 0 k
(18)Tj
ET
q
0.6 i
481.5 728.389 85 40 re
W n
0 0.97 1 0.5 k
481.5 768.389 85 -40 re
f
Q
BT
10 0 0 10 491.5 760.3892 Tm
0 Tc
[(Monthly F)55(und )]TJ
0 -1.3 TD
(Update)Tj
ET
q
0.6 i
27.5 697.889 170 16.5 re
W n
1 0.84 0.31 0.17 k
27.5 714.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 31.5 703.3892 Tm
[(In)20(vestor P)20(role)]TJ
/F5 1 Tf
9 0 0 9 27.5 686.3893 Tm
1 0.84 0.31 0.17 k
(Investor objective)Tj
/F1 1 Tf
8 0 0 8 27.5 675.8893 Tm
0.53 0.32 0.11 0 k
(Income with some capital appreciation.)Tj
/F5 1 Tf
9 0 0 9 27.5 660.8893 Tm
1 0.84 0.31 0.17 k
(Position in your overall investment portfolio*)Tj
/F1 1 Tf
8 0 0 8 27.5 650.3893 Tm
0.53 0.32 0.11 0 k
(The fund can complement your portfolio.)Tj
/F5 1 Tf
9 0 0 9 27.5 635.3893 Tm
1 0.84 0.31 0.17 k
(The fund is designed for:)Tj
/F1 1 Tf
8 0 0 8 27.5 624.8893 Tm
0.53 0.32 0.11 0 k
(The fund is designed for investors who want )Tj
0 -1.25 TD
(exposure to a portfolio of primarily global investment )Tj
T*
(grade corporate bonds on a currency hedged basis.)Tj
ET
q
0.6 i
27.5 579.889 170 16.5 re
W n
1 0.84 0.31 0.17 k
27.5 596.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 31.5 585.3893 Tm
0 0 0 0 k
[(P)30(erformance \(%\))]TJ
/F2 1 Tf
5 0 0 5 77.585 570.8892 Tm
0 0 0 1 k
-0.06 Tc
(31-May-13 )Tj
ET
q
77.5 562.389 19 12.5 re
W n
BT
5 0 0 5 95.41 570.8892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 96.5 570.8892 Tm
0 Tc
( )Tj
-3.403 -1.2 TD
-0.06 Tc
(31-May-1)Tj
ET
q
77.5 562.389 19 12.5 re
W n
BT
5 0 0 5 94.58 564.8892 Tm
0 Tc
(4)Tj
ET
Q
BT
5 0 0 5 101.585 570.8892 Tm
(31-May-14 )Tj
ET
q
101.5 562.389 19 12.5 re
W n
BT
5 0 0 5 119.41 570.8892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 120.5 570.8892 Tm
0 Tc
( )Tj
-3.403 -1.2 TD
-0.06 Tc
(31-May-1)Tj
ET
q
101.5 562.389 19 12.5 re
W n
BT
5 0 0 5 118.58 564.8892 Tm
0 Tc
(5)Tj
ET
Q
BT
5 0 0 5 125.585 570.8892 Tm
(31-May-15 )Tj
ET
q
125.5 562.389 19 12.5 re
W n
BT
5 0 0 5 143.41 570.8892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 144.5 570.8892 Tm
0 Tc
( )Tj
-3.403 -1.2 TD
-0.06 Tc
(31-May-1)Tj
ET
q
125.5 562.389 19 12.5 re
W n
BT
5 0 0 5 142.58 564.8892 Tm
0 Tc
(6)Tj
ET
Q
BT
5 0 0 5 149.585 570.8892 Tm
(31-May-16 )Tj
ET
q
149.5 562.389 19 12.5 re
W n
BT
5 0 0 5 167.41 570.8892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 168.5 570.8892 Tm
0 Tc
( )Tj
-3.403 -1.2 TD
-0.06 Tc
(31-May-1)Tj
ET
q
149.5 562.389 19 12.5 re
W n
BT
5 0 0 5 166.58 564.8892 Tm
0 Tc
(7)Tj
ET
Q
BT
5 0 0 5 173.585 570.8892 Tm
(31-May-17 )Tj
ET
q
173.5 562.389 19 12.5 re
W n
BT
5 0 0 5 191.41 570.8892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 192.5 570.8892 Tm
0 Tc
( )Tj
-3.403 -1.2 TD
-0.06 Tc
(31-May-1)Tj
ET
q
173.5 562.389 19 12.5 re
W n
BT
5 0 0 5 190.58 564.8892 Tm
0 Tc
(8)Tj
ET
Q
q
0.6 i
27.5 549.389 50 13 re
W n
0.132 0.08 0.028 0 k
27.5 562.389 50 -13 re
f
Q
BT
8 0 0 8 32.5 553.8893 Tm
-0.025 Tc
(Fund \(GBP\))Tj
ET
q
0.6 i
77.5 549.389 24 13 re
W n
0.132 0.08 0.028 0 k
77.5 562.389 24 -13 re
f
Q
BT
8 0 0 8 88.22 553.8893 Tm
(5.1)Tj
ET
q
0.6 i
101.5 549.389 24 13 re
W n
0.132 0.08 0.028 0 k
101.5 562.389 24 -13 re
f
Q
BT
8 0 0 8 112.22 553.8893 Tm
(3.3)Tj
ET
q
0.6 i
125.5 549.389 24 13 re
W n
0.132 0.08 0.028 0 k
125.5 562.389 24 -13 re
f
Q
BT
8 0 0 8 136.22 553.8893 Tm
(2.)Tj
ET
q
125.5 549.389 19 11 re
W n
BT
8 0 0 8 141.148 553.8893 Tm
0 Tc
(4)Tj
ET
Q
q
0.6 i
149.5 549.389 24 13 re
W n
0.132 0.08 0.028 0 k
149.5 562.389 24 -13 re
f
Q
BT
8 0 0 8 160.22 553.8893 Tm
(3.3)Tj
ET
q
0.6 i
173.5 549.389 24 13 re
W n
0.132 0.08 0.028 0 k
173.5 562.389 24 -13 re
f
Q
BT
8 0 0 8 182.196 553.8893 Tm
(-1.0)Tj
-18.712 -1.625 TD
[(Index)-5147(4.7)-1965(4.1)-1965(3.3)-1965(4.0)-1712(-0.5)]TJ
ET
q
0.6 i
27.5 512.889 50 23.5 re
W n
0.132 0.08 0.028 0 k
27.5 536.389 50 -23.5 re
f
Q
BT
8 0 0 8 32.5 527.8892 Tm
(Morningstar )Tj
0 -1.3125 TD
(Sector av.)Tj
4 0 0 4 59.38 520.8892 Tm
-0.05 Tc
(\(1\))Tj
ET
q
0.6 i
77.5 512.889 24 23.5 re
W n
0.132 0.08 0.028 0 k
77.5 536.389 24 -23.5 re
f
Q
BT
8 0 0 8 84.868 527.8892 Tm
-0.025 Tc
(14.9)Tj
ET
q
0.6 i
101.5 512.889 24 23.5 re
W n
0.132 0.08 0.028 0 k
101.5 536.389 24 -23.5 re
f
Q
BT
8 0 0 8 108.868 527.8892 Tm
(12.6)Tj
ET
q
0.6 i
125.5 512.889 24 23.5 re
W n
0.132 0.08 0.028 0 k
125.5 536.389 24 -23.5 re
f
Q
BT
8 0 0 8 136.22 527.8892 Tm
(2.1)Tj
ET
q
0.6 i
149.5 512.889 24 23.5 re
W n
0.132 0.08 0.028 0 k
149.5 536.389 24 -23.5 re
f
Q
BT
8 0 0 8 160.22 527.8892 Tm
(4.5)Tj
ET
q
0.6 i
173.5 512.889 24 23.5 re
W n
0.132 0.08 0.028 0 k
173.5 536.389 24 -23.5 re
f
Q
BT
8 0 0 8 182.196 527.8892 Tm
(-0.7)Tj
-18.712 -2.9375 TD
(Morningstar )Tj
0 -1.3125 TD
(Quartile)Tj
4 0 0 4 54.004 497.3893 Tm
-0.05 Tc
(\(1\))Tj
8 0 0 8 93.148 504.3892 Tm
2.556 Tc
(233)Tj
ET
q
149.5 499.889 19 11 re
W n
BT
8 0 0 8 165.148 504.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 189.148 504.3892 Tm
0 Tc
(3)Tj
ET
q
0.6 i
27.5 466.889 170 16.5 re
W n
1 0.84 0.31 0.17 k
27.5 483.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 31.5 472.3892 Tm
0 0 0 0 k
[(F)20(und Data)]TJ
/F2 1 Tf
8 0 0 8 32.5 455.3892 Tm
0 0 0 1 k
-0.025 Tc
[(No. of holdings)-13622(392)]TJ
ET
q
0.6 i
27.5 437.889 135 13 re
W n
0.132 0.08 0.028 0 k
27.5 450.889 135 -13 re
f
Q
BT
8 0 0 8 32.5 442.3892 Tm
(% in top 10)Tj
ET
q
0.6 i
162.5 437.889 35 13 re
W n
0.132 0.08 0.028 0 k
162.5 450.889 35 -13 re
f
Q
BT
8 0 0 8 189.148 442.3892 Tm
0 Tc
(8)Tj
-19.581 -1.625 TD
-0.025 Tc
[(Historical Volatility Portfolio - 3 yr)-7278(3.42)]TJ
ET
q
0.6 i
27.5 411.889 135 13 re
W n
0.132 0.08 0.028 0 k
27.5 424.889 135 -13 re
f
Q
BT
8 0 0 8 32.5 416.3892 Tm
(Historical Tracking Error - 3 yr)Tj
ET
q
0.6 i
162.5 411.889 35 13 re
W n
0.132 0.08 0.028 0 k
162.5 424.889 35 -13 re
f
Q
BT
8 0 0 8 180.868 416.3892 Tm
(0.87)Tj
-18.546 -1.625 TD
[(Excess Returns - 3 yr)-11320(-0.72)]TJ
ET
0.132 0.08 0.028 0 k
27.5 398.889 135 -13 re
f
BT
8 0 0 8 32.5 390.3893 Tm
0 0 0 1 k
0 Tc
(R)Tj
ET
q
32.5 385.889 130 11 re
W n
BT
5 0 0 5 36.3 393.3892 Tm
(2)Tj
ET
Q
BT
8 0 0 8 38.32 390.3893 Tm
-0.025 Tc
( - 3 yr)Tj
ET
0.132 0.08 0.028 0 k
162.5 398.889 35 -13 re
f
BT
8 0 0 8 180.868 390.3893 Tm
0 0 0 1 k
(0.9)Tj
ET
q
162.5 385.889 30 11 re
W n
BT
8 0 0 8 189.148 390.3893 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 32.5 377.3892 Tm
[(Beta - 3 yr)-15100(1.06)]TJ
ET
q
0.6 i
27.5 359.889 135 13 re
W n
0.132 0.08 0.028 0 k
27.5 372.889 135 -13 re
f
Q
BT
8 0 0 8 32.5 364.3892 Tm
(Swing Pricing \(%\))Tj
ET
q
0.6 i
162.5 359.889 35 13 re
W n
0.132 0.08 0.028 0 k
162.5 372.889 35 -13 re
f
Q
BT
8 0 0 8 40.5 351.3892 Tm
[(Subscription \(%\))-12004(0.15)]TJ
ET
0.132 0.08 0.028 0 k
27.5 346.889 135 -13 re
f
BT
8 0 0 8 40.5 338.3892 Tm
0 0 0 1 k
(Redemption \(%\))Tj
ET
0.132 0.08 0.028 0 k
162.5 346.889 35 -13 re
f
BT
8 0 0 8 180.868 338.3892 Tm
0 0 0 1 k
(0.15)Tj
ET
q
0.6 i
27.5 314.189 135 13 re
W n
0.132 0.08 0.028 0 k
27.5 327.189 135 -13 re
f
Q
BT
8 0 0 8 32.5 318.6892 Tm
(Initial Sales Charge: up to \(%\))Tj
ET
q
0.6 i
162.5 314.189 35 13 re
W n
0.132 0.08 0.028 0 k
162.5 327.189 35 -13 re
f
Q
BT
8 0 0 8 180.868 318.6892 Tm
(0.00)Tj
-18.546 -1.625 TD
[(Performance Fee Rate \(%\))-9790(N/)]TJ
ET
q
162.5 301.189 30 11 re
W n
BT
8 0 0 8 188.252 305.6892 Tm
0 Tc
(A)Tj
ET
Q
0.132 0.08 0.028 0 k
27.5 301.189 135 -13 re
f
BT
8 0 0 8 32.5 292.6892 Tm
0 0 0 1 k
(Ongoing Charges \(%\))Tj
4 0 0 4 89.556 296.1892 Tm
-0.05 Tc
(\(2\))Tj
ET
0.132 0.08 0.028 0 k
162.5 301.189 35 -13 re
f
BT
8 0 0 8 180.868 292.6892 Tm
0 0 0 1 k
-0.025 Tc
(0.68)Tj
-17.546 -1.625 TD
[(Management Fee \(%\))-10222(0.50)]TJ
ET
q
0.6 i
27.5 262.189 135 13 re
W n
0.132 0.08 0.028 0 k
27.5 275.189 135 -13 re
f
Q
BT
8 0 0 8 40.5 266.6892 Tm
(Distribution Fee \(%\))Tj
ET
q
0.6 i
162.5 262.189 35 13 re
W n
0.132 0.08 0.028 0 k
162.5 275.189 35 -13 re
f
Q
BT
8 0 0 8 180.868 266.6892 Tm
(0.00)Tj
-17.546 -1.625 TD
[(Other Expenses \(%\))-10943(0.18)]TJ
ET
q
0.6 i
212.5 697.889 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 714.389 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 703.3892 Tm
0 0 0 0 k
0 Tc
[(P)30(erformance \(Indexed\))]TJ
ET
0.132 0.08 0.028 0 k
232.5 687.889 335 -135 re
f
BT
/F1 1 Tf
7 0 0 7 225.311 542.8892 Tm
/Cs7 cs 0 scn
[(08/12)-13898.4(08/14)-13909.3(08/16)-13887.5(08/18)]TJ
ET
0 0 0 1 K
0 J 0 j 0.5 w 10 M []0 d
0.6 i
232.5 552.889 m
232.5 549.889 l
288.372 552.889 m
288.372 549.889 l
S
0 0 0 0 K
288.372 552.889 m
288.372 687.889 l
S
0 0 0 1 K
344.167 552.889 m
344.167 549.889 l
S
0 0 0 0 K
344.167 552.889 m
344.167 687.889 l
S
0 0 0 1 K
399.962 552.889 m
399.962 549.889 l
S
0 0 0 0 K
399.962 552.889 m
399.962 687.889 l
S
0 0 0 1 K
455.91 552.889 m
455.91 549.889 l
S
0 0 0 0 K
455.91 552.889 m
455.91 687.889 l
S
0 0 0 1 K
511.705 552.889 m
511.705 549.889 l
S
0 0 0 0 K
511.705 552.889 m
511.705 687.889 l
S
0 0 0 1 K
567.5 552.889 m
567.5 549.889 l
S
0 0 0 0 K
567.5 552.889 m
567.5 687.889 l
S
0 0 0 1 K
232.5 552.889 m
567.5 552.889 l
232.5 552.889 m
229.5 552.889 l
S
BT
7 0 0 7 221.284 551.8892 Tm
(95)Tj
ET
232.5 572.175 m
229.5 572.175 l
S
0 0 0 0 K
232.5 572.175 m
567.5 572.175 l
S
BT
7 0 0 7 218.176 571.1749 Tm
(100)Tj
ET
0 0 0 1 K
232.5 591.461 m
229.5 591.461 l
S
0 0 0 0 K
232.5 591.461 m
567.5 591.461 l
S
BT
7 0 0 7 218.176 590.4606 Tm
(105)Tj
ET
0 0 0 1 K
232.5 610.746 m
229.5 610.746 l
S
0 0 0 0 K
232.5 610.746 m
567.5 610.746 l
S
BT
7 0 0 7 218.176 609.7463 Tm
(110)Tj
ET
0 0 0 1 K
232.5 630.032 m
229.5 630.032 l
S
0 0 0 0 K
232.5 630.032 m
567.5 630.032 l
S
BT
7 0 0 7 218.176 629.0321 Tm
(115)Tj
ET
0 0 0 1 K
232.5 649.318 m
229.5 649.318 l
S
0 0 0 0 K
232.5 649.318 m
567.5 649.318 l
S
BT
7 0 0 7 218.176 648.3178 Tm
(120)Tj
ET
0 0 0 1 K
232.5 668.604 m
229.5 668.604 l
S
0 0 0 0 K
232.5 668.604 m
567.5 668.604 l
S
BT
7 0 0 7 218.176 667.6035 Tm
(125)Tj
ET
0 0 0 1 K
232.5 687.889 m
229.5 687.889 l
S
BT
7 0 0 7 218.176 686.8893 Tm
(130)Tj
ET
232.5 552.889 m
232.5 687.889 l
S
0 0 0 0.5 K
1.5 w
553.36 643.532 m
548.621 644.381 l
544.036 646.502 l
539.303 647.119 l
535.023 651.941 l
530.284 653.599 l
525.545 652.481 l
520.959 653.136 l
516.214 650.745 l
511.628 651.671 l
506.89 649.472 l
502.151 646.309 l
497.565 646.232 l
492.826 642.298 l
488.24 638.904 l
483.508 639.366 l
479.228 634.738 l
474.489 633.774 l
469.75 631.189 l
465.164 639.791 l
460.419 643.262 l
455.833 643.956 l
451.095 640.562 l
446.356 632.385 l
441.77 625.751 l
437.031 625.751 l
432.445 620.659 l
427.713 609.281 l
423.28 608.779 l
418.541 609.088 l
413.802 612.212 l
409.216 611.904 l
404.471 608.046 l
399.885 609.551 l
395.147 612.174 l
390.408 609.319 l
385.822 616.146 l
381.083 617.921 l
376.497 618.846 l
371.765 617.998 l
367.485 617.612 l
362.746 610.206 l
358.007 610.978 l
353.421 608.895 l
348.676 606.272 l
344.09 609.705 l
339.351 605.424 l
334.613 605.539 l
330.027 604.073 l
325.288 599.484 l
320.702 595.703 l
315.97 594.971 l
311.69 591.229 l
306.951 586.678 l
302.212 586.292 l
297.626 587.565 l
292.881 581.625 l
288.295 577.652 l
283.556 580.121 l
278.818 576.456 l
274.232 588.606 l
269.493 594.392 l
264.913 587.488 l
260.175 586.524 l
255.894 583.322 l
251.156 586.331 l
246.417 584.171 l
241.831 582.589 l
237.086 578.076 l
232.5 572.175 l
S
1 0.84 0.31 0.17 K
[4 2 ]0 d
553.36 650.012 m
548.621 649.125 l
544.036 652.095 l
539.303 651.748 l
535.023 657.032 l
530.284 660.465 l
525.545 658.189 l
520.959 658.922 l
516.214 656.376 l
511.628 657.996 l
506.89 654.718 l
502.151 651.825 l
497.565 652.211 l
492.826 648.199 l
488.24 644.342 l
483.508 645.345 l
479.228 640.022 l
474.489 639.829 l
469.75 637.014 l
465.164 646.502 l
460.419 650.745 l
455.833 652.018 l
451.095 650.282 l
446.356 642.876 l
441.77 634.121 l
437.031 633.426 l
432.445 628.991 l
427.713 619.232 l
423.28 616.802 l
418.541 614.835 l
413.802 617.959 l
409.216 617.381 l
404.471 614.642 l
399.885 613.485 l
395.147 616.224 l
390.408 612.559 l
385.822 619.888 l
381.083 621.508 l
376.497 623.976 l
371.765 622.665 l
367.485 625.134 l
362.746 614.333 l
358.007 613.331 l
353.421 609.975 l
348.676 606.581 l
344.09 610.129 l
339.351 604.305 l
334.613 603.572 l
330.027 602.685 l
325.288 597.709 l
320.702 593.428 l
315.97 592.695 l
311.69 589.339 l
306.951 583.014 l
302.212 584.016 l
297.626 584.325 l
292.881 578.771 l
288.295 575.916 l
283.556 577.884 l
278.818 574.181 l
274.232 583.862 l
269.493 590.072 l
264.913 583.631 l
260.175 582.319 l
255.894 578.771 l
251.156 582.011 l
246.417 580.854 l
241.831 579.735 l
237.086 575.222 l
232.5 572.175 l
S
0 0.97 1 0.5 K
[]0 d
553.36 641.989 m
548.621 641.604 l
544.036 643.918 l
539.303 643.918 l
535.023 649.703 l
530.284 653.175 l
525.545 651.632 l
520.959 652.789 l
516.214 649.318 l
511.628 650.475 l
502.151 646.618 l
497.565 646.618 l
492.826 642.375 l
488.24 639.675 l
483.508 640.446 l
479.228 635.432 l
474.489 635.046 l
469.75 633.889 l
465.164 643.918 l
460.419 649.703 l
455.833 650.475 l
451.095 648.546 l
446.356 638.518 l
441.77 631.961 l
437.031 632.346 l
432.445 627.718 l
427.713 615.761 l
423.28 614.604 l
418.541 614.218 l
413.802 619.618 l
409.216 617.689 l
404.471 613.832 l
399.885 613.832 l
395.147 615.761 l
390.408 613.061 l
385.822 621.546 l
381.083 623.089 l
376.497 624.632 l
371.765 624.246 l
367.485 624.632 l
362.746 615.375 l
358.007 614.604 l
353.421 612.675 l
348.676 610.361 l
344.09 614.218 l
339.351 609.203 l
334.613 608.818 l
330.027 607.661 l
325.288 601.875 l
320.702 598.404 l
315.97 597.632 l
311.69 593.389 l
306.951 588.375 l
302.212 587.604 l
297.626 588.761 l
292.881 582.203 l
288.295 577.961 l
283.556 580.275 l
278.818 575.646 l
274.232 587.218 l
269.493 592.232 l
264.913 584.904 l
260.175 583.361 l
255.894 579.504 l
251.156 583.746 l
246.417 581.046 l
241.831 579.118 l
237.086 575.646 l
232.5 572.175 l
S
q
226.5 497.389 8 35.5 re
W n
3 w
226.5 532.889 m
234.5 532.889 l
S
Q
BT
8 0 0 8 237.5 526.8892 Tm
0 0 0 1 k
-0.025 Tc
(Goldman Sachs Global Credit )Tj
0 -1.25 TD
(Portfolio \(Hedged\) - Class P )Tj
T*
(Shares \(Acc.\) \(GBP Hedged\))Tj
/F2 1 Tf
4 0 0 4 322.964 509.9892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
337.5 497.389 4 35.5 re
W n
1 0.84 0.31 0.17 K
3 w
337.5 532.889 m
341.5 532.889 l
S
Q
q
343.5 497.389 4 35.5 re
W n
1 0.84 0.31 0.17 K
3 w
343.5 532.889 m
347.5 532.889 l
S
Q
BT
/F1 1 Tf
8 0 0 8 350.5 526.8892 Tm
-0.025 Tc
(Bloomberg Barclays Global )Tj
T*
(Aggregate - Corporate Index )Tj
T*
(\(TR, 100% Hedged to GBP\))Tj
/F2 1 Tf
4 0 0 4 429.692 509.9892 Tm
-0.05 Tc
(\(3\))Tj
ET
q
450.5 497.389 8 35.5 re
W n
0 0 0 0.5 K
3 w
450.5 532.889 m
458.5 532.889 l
S
Q
BT
/F1 1 Tf
8 0 0 8 461.5 526.8892 Tm
-0.025 Tc
(Morningstar Global Corporate )Tj
T*
(Bond - GBP Hedged)Tj
/F2 1 Tf
4 0 0 4 522.092 519.9892 Tm
-0.05 Tc
(\(1\))Tj
8 0 0 8 212.5 491.3893 Tm
0 Tc
(This is an actively managed fund that is not designed to track its reference benchmark. Therefore the performance of the )Tj
T*
(fund and the performance of its reference benchmark may diverge. In addition stated reference benchmark returns do not )Tj
T*
(reect any management or other charges to the fund, whereas stated returns of the fund do.)Tj
/F5 1 Tf
33.316 0 TD
( Past performance does not )Tj
-33.316 -1.25 TD
[(guarantee future results, which may vary)37(. The value of investments and the income derived from investments )]TJ
T*
[(will uctuate and can go down as well as up. A loss of capital may occur)70(.)]TJ
ET
q
212.5 422.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 438.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 427.8893 Tm
0 0 0 0 k
[(P)30(erformance Summary \(%\))]TJ
/F5 1 Tf
8 0 0 8 398.052 410.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Cumulative)-9389(Annualised)]TJ
/F2 1 Tf
-6.419 -1.625 TD
[(Since Launch)-1709(1 Mth)-1345(3 Mths)-2325(YTD)]TJ
ET
q
477.5 393.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 406.389 m
481.5 381.389 l
S
Q
BT
8 0 0 8 491.748 397.8893 Tm
(1 Y)Tj
ET
q
0.2 i
482.5 393.389 20 11 re
W n
BT
8 0 0 8 500.476 397.8893 Tm
0 Tc
(r)Tj
ET
Q
BT
8 0 0 8 518.836 397.8893 Tm
[(3 Yrs)-2042(5 Yrs)]TJ
ET
q
212.5 380.389 130 13 re
W n
0.132 0.08 0.028 0 k
212.5 393.389 130 -13 re
f
Q
BT
8 0 0 8 217.5 384.8892 Tm
(Class P Shares \(Acc.\) \(GBP Hedged\))Tj
4 0 0 4 312.436 388.3892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
342.5 380.389 45 13 re
W n
0.132 0.08 0.028 0 k
342.5 393.389 45 -13 re
f
Q
BT
8 0 0 8 367.516 384.8892 Tm
-0.025 Tc
(18.10)Tj
ET
q
387.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
387.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 400.868 384.8892 Tm
(0.08)Tj
ET
q
417.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
417.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 427.716 384.8892 Tm
(\(0.42\))Tj
ET
q
447.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
447.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 457.716 384.8892 Tm
(\(2.40\))Tj
ET
q
477.5 380.389 5 13 re
W n
0.132 0.08 0.028 0 k
477.5 393.389 5 -13 re
f
0 0 0 1 K
1 w [2 2 ]2 d
481.5 393.389 m
481.5 368.389 l
S
Q
q
482.5 380.389 25 13 re
W n
0.132 0.08 0.028 0 k
482.5 393.389 25 -13 re
f
Q
BT
8 0 0 8 487.716 384.8892 Tm
(\(1.01\))Tj
ET
q
507.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
507.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 520.868 384.8892 Tm
(1.5)Tj
ET
q
0.2 i
507.5 380.389 25 11 re
W n
BT
8 0 0 8 529.148 384.8892 Tm
0 Tc
(4)Tj
ET
Q
q
537.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
537.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 550.868 384.8892 Tm
(2.59)Tj
-41.671 -1.625 TD
(Bloomberg Barclays Global Aggregate - )Tj
0 -1.3125 TD
(Corporate Index \(TR, 100% Hedged to GBP\))Tj
4 0 0 4 333.876 364.8892 Tm
-0.05 Tc
(\(3\))Tj
8 0 0 8 367.516 371.8892 Tm
-0.025 Tc
[(20.18)-2296(0.19)-1902(\(0.37\))-1902(\(2.21\))]TJ
ET
q
477.5 356.889 5 23.5 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 380.389 m
481.5 355.389 l
S
Q
BT
8 0 0 8 487.716 371.8892 Tm
[(\(0.47\))-2296(2.26)-2296(3.13)]TJ
ET
0.132 0.08 0.028 0 k
212.5 356.889 130 -23.5 re
f
BT
8 0 0 8 217.5 348.3892 Tm
0 0 0 1 k
(Morningstar Global Corporate Bond - GBP )Tj
T*
(Hedged)Tj
4 0 0 4 238.508 341.3892 Tm
-0.05 Tc
(\(1\))Tj
ET
q
342.5 333.389 45 23.5 re
W n
0.132 0.08 0.028 0 k
342.5 356.889 45 -23.5 re
f
Q
q
387.5 333.389 30 23.5 re
W n
0.132 0.08 0.028 0 k
387.5 356.889 30 -23.5 re
f
Q
BT
8 0 0 8 397.716 348.3892 Tm
-0.025 Tc
(\(0.19\))Tj
ET
0.132 0.08 0.028 0 k
417.5 356.889 30 -23.5 re
f
BT
8 0 0 8 427.716 348.3892 Tm
0 0 0 1 k
(\(0.79\))Tj
ET
0.132 0.08 0.028 0 k
447.5 356.889 30 -23.5 re
f
BT
8 0 0 8 457.716 348.3892 Tm
0 0 0 1 k
(\(2.17\))Tj
ET
q
477.5 333.389 5 23.5 re
W n
0.132 0.08 0.028 0 k
477.5 356.889 5 -23.5 re
f
0 0 0 1 K
1 w [2 2 ]2 d
481.5 356.889 m
481.5 331.889 l
S
Q
0.132 0.08 0.028 0 k
482.5 356.889 25 -23.5 re
f
BT
8 0 0 8 487.716 348.3892 Tm
0 0 0 1 k
(\(0.75\))Tj
ET
0.132 0.08 0.028 0 k
507.5 356.889 30 -23.5 re
f
BT
8 0 0 8 520.868 348.3892 Tm
0 0 0 1 k
(1.91)Tj
ET
0.132 0.08 0.028 0 k
537.5 356.889 30 -23.5 re
f
BT
8 0 0 8 550.868 348.3892 Tm
0 0 0 1 k
(2.77)Tj
-41.671 -2.9375 TD
(Quartile Position in Sector)Tj
4 0 0 4 287.62 328.3892 Tm
-0.05 Tc
(\(1\))Tj
8 0 0 8 409.148 324.8892 Tm
3.306 Tc
(223)Tj
ET
q
477.5 320.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 333.389 m
481.5 308.389 l
S
Q
BT
8 0 0 8 499.148 324.8892 Tm
(333)Tj
ET
q
212.5 297.889 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 314.389 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 303.3892 Tm
0 0 0 0 k
0 Tc
[(Calendar )180(Y)95(ear P)30(erformance \(%\))]TJ
/F2 1 Tf
8 0 0 8 449.092 289.3892 Tm
0 0 0 1 k
-0.025 Tc
[(2013)-1449(201)]TJ
ET
q
0.2 i
467.5 284.889 20 11 re
W n
BT
8 0 0 8 484.148 289.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 499.092 289.3892 Tm
[(2015)-1449(2016)-1449(2017)]TJ
ET
0.132 0.08 0.028 0 k
212.5 284.889 230 -13 re
f
BT
8 0 0 8 217.5 276.3892 Tm
0 0 0 1 k
(Class P Shares \(Acc.\) \(GBP Hedged\))Tj
ET
q
442.5 271.889 25 13 re
W n
0.132 0.08 0.028 0 k
442.5 284.889 25 -13 re
f
Q
BT
8 0 0 8 454.22 276.3892 Tm
(1.2)Tj
ET
0.132 0.08 0.028 0 k
467.5 284.889 25 -13 re
f
BT
8 0 0 8 479.22 276.3892 Tm
0 0 0 1 k
(6.7)Tj
ET
q
492.5 271.889 25 13 re
W n
0.132 0.08 0.028 0 k
492.5 284.889 25 -13 re
f
Q
BT
8 0 0 8 502.196 276.3892 Tm
(-0.3)Tj
ET
0.132 0.08 0.028 0 k
517.5 284.889 25 -13 re
f
BT
8 0 0 8 529.22 276.3892 Tm
0 0 0 1 k
(4.9)Tj
ET
q
542.5 271.889 25 13 re
W n
0.132 0.08 0.028 0 k
542.5 284.889 25 -13 re
f
Q
BT
8 0 0 8 554.22 276.3892 Tm
(4.0)Tj
-42.09 -1.625 TD
[(Bloomberg Barclays Global Aggregate - Corporate Index \(TR, 100% Hedged to GBP\))-1555(0.2)-2090(7.9)-2090(0.1)-2090(5.8)-2090(4.6)]TJ
/F5 1 Tf
0 -15.4862 TD
(Please see Additional Notes. All performance and holdings data as at 31-May-18.)Tj
0 -1.3125 TD
0 Tc
[(Past performance does not guarantee future results, which may vary)37(.)]TJ
/F2 1 Tf
0 -1.25 TD
[(* W)18(e)0( identify two broad categories of funds to help investors think about how to construct their overall investment )]TJ
T*
[(portfolio. W)18(e)0( describe the following as)]TJ
/F5 1 Tf
14.085 0 TD
( Core)Tj
/F2 1 Tf
2.999 0 TD
(: \(A\) Equity funds with a global investment remit or those mainly focused )Tj
-17.084 -1.25 TD
(on US and European markets, given the size and transparency of these markets. \(B\) Fixed income funds with a global )Tj
T*
(investment remit or those mainly focused on US, European and UK markets and invest predominantly in investment )Tj
T*
(grade debt, including government. \(C\) Multi asset funds with a multi asset benchmark. All other funds we describe as)Tj
/F5 1 Tf
42.368 0 TD
( )Tj
-42.368 -1.25 TD
(Complements)Tj
/F2 1 Tf
6.388 0 TD
(. Both Core and Complement funds can vary in risk level and those terms are not meant to indicate the )Tj
-6.388 -1.25 TD
(risk level of the funds. There is no guarantee that these objectives will be met.)Tj
T*
(For regionally focussed investment portfolios we understand that the categorisation may be different from the )Tj
T*
(perspective of different investors.)Tj
/F5 1 Tf
12.162 0 TD
( Consult your nancial adviser before investing to help determine if an )Tj
-12.162 -1.25 TD
(investment in this fund and the amount of the investment would be suitable)Tj
/F2 1 Tf
30.276 0 TD
(.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
105.942 52.574 106.042 52.574 106.12 52.595 c
106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
93.618 40.706 93.663 40.349 93.696 40.002 c
92.227 40.002 l
92.159 40.751 l
92.137 40.751 l
91.801 40.169 91.344 39.891 90.659 39.891 c
89.561 39.891 89.157 40.706 89.157 41.693 c
89.157 43.564 90.601 43.642 92.071 43.62 c
92.071 44.057 l
92.071 44.538 92.003 44.887 91.432 44.887 c
90.884 44.887 90.838 44.472 90.838 44.023 c
89.292 44.023 l
89.292 44.707 89.504 45.144 89.874 45.401 c
90.232 45.672 90.749 45.772 91.353 45.772 c
93.359 45.772 93.618 44.91 93.618 43.877 c
93.618 41.054 l
f
96.451 45.088 m
96.474 45.088 l
96.632 45.346 96.821 45.514 97.033 45.614 c
97.26 45.727 97.516 45.772 97.807 45.772 c
98.556 45.772 99.22 45.322 99.22 44.538 c
99.22 40.002 l
97.64 40.002 l
97.64 43.9 l
97.64 44.403 97.549 44.797 97.046 44.797 c
96.541 44.797 96.451 44.403 96.451 43.9 c
96.451 40.002 l
94.871 40.002 l
94.871 45.66 l
96.451 45.66 l
96.451 45.088 l
f
101.795 41.761 m
101.795 41.357 101.862 40.865 102.379 40.865 c
103.309 40.865 103.164 42.118 103.164 42.735 c
102.379 42.701 101.795 42.77 101.795 41.761 c
104.709 41.054 m
104.709 40.706 104.754 40.349 104.789 40.002 c
103.318 40.002 l
103.253 40.751 l
103.231 40.751 l
102.896 40.169 102.436 39.891 101.753 39.891 c
100.652 39.891 100.25 40.706 100.25 41.693 c
100.25 43.564 101.695 43.642 103.164 43.62 c
103.164 44.057 l
103.164 44.538 103.097 44.887 102.525 44.887 c
101.975 44.887 101.931 44.472 101.931 44.023 c
100.386 44.023 l
100.386 44.707 100.598 45.144 100.967 45.401 c
101.326 45.672 101.841 45.772 102.446 45.772 c
104.453 45.772 104.709 44.91 104.709 43.877 c
104.709 41.054 l
f
108.061 41.054 m
108.63 41.054 108.708 41.648 108.708 42.848 c
108.708 44.091 108.653 44.797 108.072 44.797 c
107.476 44.797 107.374 44.382 107.374 42.657 c
107.374 42.129 107.296 41.054 108.061 41.054 c
110.29 45.66 m
110.29 39.765 l
110.29 39.374 110.311 37.826 108.136 37.826 c
106.959 37.826 105.953 38.131 105.919 39.509 c
107.465 39.509 l
107.465 39.274 107.499 39.072 107.599 38.938 c
107.702 38.791 107.881 38.713 108.126 38.713 c
108.519 38.713 108.708 39.082 108.708 39.655 c
108.708 40.741 l
108.687 40.741 l
108.453 40.303 108.003 40.08 107.488 40.08 c
105.751 40.08 105.83 41.67 105.83 42.949 c
105.83 44.192 105.852 45.772 107.499 45.772 c
108.061 45.772 108.54 45.525 108.765 44.997 c
108.787 44.997 l
108.787 45.66 l
110.29 45.66 l
f
114.523 43.464 m
114.523 44.012 114.546 44.797 113.795 44.797 c
113.067 44.797 113.08 43.944 113.08 43.464 c
h
113.08 42.578 m
113.08 41.904 113.101 40.898 113.795 40.898 c
114.356 40.898 114.468 41.435 114.468 41.904 c
116.071 41.904 l
116.048 41.288 115.846 40.785 115.464 40.439 c
115.095 40.091 114.535 39.891 113.795 39.891 c
111.757 39.891 111.488 41.133 111.488 42.903 c
111.488 44.45 111.713 45.772 113.795 45.772 c
115.924 45.772 116.16 44.393 116.105 42.578 c
113.08 42.578 l
f
118.85 45.088 m
118.873 45.088 l
119.186 45.593 119.612 45.772 120.205 45.772 c
120.767 45.772 121.213 45.502 121.471 45.055 c
121.842 45.546 122.29 45.772 122.938 45.772 c
123.69 45.772 124.351 45.322 124.351 44.538 c
124.351 40.002 l
122.771 40.002 l
122.771 43.9 l
122.771 44.403 122.682 44.797 122.176 44.797 c
121.674 44.797 121.584 44.403 121.584 43.9 c
121.584 40.002 l
120.039 40.002 l
120.039 43.9 l
120.039 44.403 119.948 44.797 119.444 44.797 c
118.94 44.797 118.85 44.403 118.85 43.9 c
118.85 40.002 l
117.271 40.002 l
117.271 45.66 l
118.85 45.66 l
118.85 45.088 l
f
128.441 43.464 m
128.441 44.012 128.462 44.797 127.712 44.797 c
126.983 44.797 126.994 43.944 126.994 43.464 c
h
126.994 42.578 m
126.994 41.904 127.016 40.898 127.712 40.898 c
128.272 40.898 128.384 41.435 128.384 41.904 c
129.986 41.904 l
129.965 41.288 129.762 40.785 129.381 40.439 c
129.011 40.091 128.453 39.891 127.712 39.891 c
125.673 39.891 125.405 41.133 125.405 42.903 c
125.405 44.45 125.628 45.772 127.712 45.772 c
129.84 45.772 130.076 44.393 130.02 42.578 c
126.994 42.578 l
f
132.777 45.088 m
132.798 45.088 l
132.955 45.346 133.146 45.514 133.359 45.614 c
133.582 45.727 133.842 45.772 134.131 45.772 c
134.882 45.772 135.544 45.322 135.544 44.538 c
135.544 40.002 l
133.963 40.002 l
133.963 43.9 l
133.963 44.403 133.875 44.797 133.37 44.797 c
132.867 44.797 132.777 44.403 132.777 43.9 c
132.777 40.002 l
131.197 40.002 l
131.197 45.66 l
132.777 45.66 l
132.777 45.088 l
f
q
27.594 27.518 111.827 41.827 re
W n
136.385 45.66 m
137.024 45.66 l
137.024 46.556 l
138.602 47.262 l
138.602 45.66 l
139.421 45.66 l
139.421 44.685 l
138.602 44.685 l
138.602 41.659 l
138.602 41.233 138.591 40.954 139.108 40.954 c
139.209 40.954 139.309 40.954 139.387 40.975 c
139.387 40.002 l
139.175 39.978 138.95 39.944 138.57 39.944 c
137.203 39.944 137.024 40.852 137.024 41.2 c
137.024 44.685 l
136.385 44.685 l
136.385 45.66 l
f
0.5 0.25 0 0.1 k
27.595 69.345 41.778 -41.827 re
f
Q
0 0 0 0 k
39.023 62.533 m
39.023 61.455 39.023 60.486 38.811 60.031 c
38.705 59.804 38.549 59.675 38.266 59.675 c
37.984 59.675 37.826 59.804 37.721 60.031 c
37.507 60.486 37.508 61.455 37.508 62.533 c
37.508 63.612 37.507 64.582 37.721 65.037 c
37.826 65.262 37.984 65.39 38.266 65.39 c
38.549 65.39 38.705 65.262 38.811 65.037 c
39.023 64.582 39.023 63.612 39.023 62.533 c
39.587 65.077 m
39.209 65.396 38.8 65.598 38.266 65.598 c
37.738 65.597 37.321 65.373 36.961 65.047 c
36.422 64.559 35.95 63.711 35.95 62.533 c
35.95 61.459 36.319 60.515 36.947 59.99 c
37.326 59.674 37.734 59.469 38.266 59.469 c
38.8 59.469 39.209 59.674 39.587 59.99 c
40.212 60.515 40.583 61.459 40.583 62.533 c
40.583 63.609 40.212 64.551 39.587 65.077 c
f
64.062 59.582 m
62.557 59.582 l
62.557 65.496 l
63.957 65.496 l
63.957 64.83 l
64.134 65.212 64.574 65.555 65.164 65.599 c
66.128 65.668 66.764 65.084 66.764 63.835 c
66.764 59.582 l
65.26 59.582 l
65.26 64.149 l
65.26 64.645 65.247 65.084 64.898 65.173 c
64.748 65.212 64.536 65.188 64.384 65.055 c
64.129 64.826 64.062 64.557 64.062 64.146 c
64.062 59.582 l
f
59.823 63.199 m
59.343 62.888 l
58.839 62.59 58.748 62.204 58.711 61.756 c
58.68 61.415 58.674 60.876 58.711 60.369 c
58.748 59.866 59.051 59.767 59.314 59.876 c
59.645 60.009 59.823 60.494 59.823 61.066 c
h
60.68 65.322 m
61.096 65.076 61.33 64.738 61.33 63.964 c
61.33 59.582 l
59.871 59.582 l
59.871 60.169 l
59.689 59.76 59.267 59.484 58.608 59.484 c
58.04 59.484 57.146 59.729 57.146 61.092 c
57.146 62.351 57.992 62.619 58.873 63.005 c
59.731 63.381 59.823 63.434 59.823 63.757 c
59.823 64.812 l
59.823 65.211 59.591 65.388 59.157 65.363 c
58.99 65.35 58.687 65.262 58.672 65.049 c
58.649 64.758 58.933 64.707 58.974 64.295 c
59.031 63.718 58.549 63.47 58.109 63.494 c
57.818 63.51 57.439 63.683 57.403 64.183 c
57.348 64.945 58.229 65.597 59.477 65.597 c
60.027 65.597 60.39 65.498 60.68 65.322 c
f
38.785 55.336 m
38.302 55.027 l
37.801 54.73 37.712 54.343 37.672 53.896 c
37.642 53.554 37.632 53.016 37.672 52.509 c
37.707 52.006 38.01 51.908 38.279 52.02 c
38.605 52.15 38.785 52.635 38.785 53.203 c
h
39.64 57.463 m
40.057 57.216 40.291 56.875 40.291 56.102 c
40.291 51.719 l
38.835 51.719 l
38.833 52.308 l
38.65 51.9 38.227 51.623 37.569 51.623 c
37.001 51.623 36.107 51.867 36.107 53.232 c
36.107 54.49 36.95 54.756 37.835 55.144 c
38.695 55.518 38.785 55.575 38.785 55.895 c
38.785 56.952 l
38.785 57.35 38.553 57.528 38.119 57.502 c
37.949 57.489 37.65 57.4 37.632 57.188 c
37.607 56.897 37.895 56.846 37.935 56.439 c
37.992 55.857 37.509 55.611 37.072 55.633 c
36.776 55.649 36.399 55.822 36.363 56.324 c
36.308 57.086 37.19 57.737 38.438 57.737 c
38.989 57.737 39.352 57.635 39.64 57.463 c
f
56.294 59.582 m
56.294 63.835 l
56.294 65.084 55.676 65.668 54.712 65.599 c
54.051 65.55 53.653 65.143 53.499 64.743 c
53.257 65.363 52.754 65.645 52.067 65.599 c
51.475 65.555 51.071 65.212 50.891 64.83 c
50.891 65.496 l
49.527 65.496 l
49.527 59.582 l
50.998 59.582 l
50.998 64.146 l
50.998 64.557 51.07 64.836 51.32 65.055 c
51.486 65.194 51.648 65.212 51.801 65.173 c
52.145 65.084 52.16 64.645 52.16 64.149 c
52.16 59.582 l
53.648 59.582 l
53.648 64.158 l
53.648 64.569 53.706 64.83 53.969 65.055 c
54.133 65.194 54.297 65.212 54.446 65.173 c
54.791 65.084 54.809 64.645 54.809 64.149 c
54.809 59.582 l
56.294 59.582 l
f
41.444 66.715 1.522 -7.133 re
f
46.442 65.086 m
46.753 64.629 46.776 63.513 46.776 62.663 c
46.776 61.809 46.827 60.535 46.46 60.071 c
46.316 59.886 46.225 59.811 45.993 59.811 c
45.69 59.811 45.485 60.136 45.42 60.74 c
45.361 61.262 45.345 62.014 45.345 62.703 c
45.345 63.621 45.392 64.305 45.582 64.881 c
45.653 65.09 45.802 65.315 46.018 65.315 c
46.234 65.315 46.343 65.229 46.442 65.086 c
48.249 59.582 m
48.249 66.715 l
46.745 66.715 l
46.745 65.037 l
46.591 65.35 46.296 65.57 45.844 65.57 c
44.732 65.57 43.865 64.412 43.821 62.674 c
43.793 61.507 44.193 59.52 45.71 59.52 c
46.357 59.52 46.616 59.809 46.806 60.217 c
46.806 59.582 l
48.249 59.582 l
f
54.326 57.736 m
54.326 56.038 l
54.112 56.038 l
53.965 56.734 53.631 57.502 52.881 57.526 c
52.502 57.539 52.043 57.314 52.009 56.862 c
51.974 56.422 52.131 56.071 52.908 55.621 c
53.88 55.058 54.689 54.785 54.689 53.609 c
54.689 52.23 53.622 51.718 52.508 51.718 c
50.93 51.718 l
50.93 53.781 l
51.135 53.781 l
51.433 52.543 51.747 51.951 52.654 51.951 c
53.199 51.951 53.582 52.328 53.582 52.932 c
53.582 53.485 53.207 53.856 52.383 54.345 c
51.479 54.88 50.869 55.224 50.869 56.087 c
50.869 56.98 51.543 57.737 52.738 57.737 c
53.137 57.737 54.326 57.736 y
f
49.92 51.719 m
48.417 51.719 l
48.417 56.287 l
48.417 56.785 48.402 57.223 48.06 57.312 c
47.908 57.351 47.692 57.326 47.546 57.194 c
47.289 56.965 47.222 56.697 47.222 56.285 c
47.222 51.719 l
45.717 51.719 l
45.717 53.412 l
45.496 52.623 44.818 51.614 43.679 51.614 c
42.745 51.614 41.15 52.054 41.15 54.612 c
41.15 56.99 42.721 57.727 43.552 57.737 c
44.196 57.741 44.614 57.536 44.901 57.116 c
45.131 56.78 45.16 56.211 44.849 55.863 c
44.481 55.455 43.649 55.522 43.482 56.08 c
43.332 56.584 43.643 56.887 43.847 57.127 c
43.966 57.273 43.949 57.527 43.533 57.527 c
42.982 57.527 42.842 56.893 42.784 56.397 c
42.645 55.129 42.656 53.953 42.788 53.064 c
42.876 52.455 43.045 51.888 43.826 51.878 c
44.829 51.865 45.663 53.275 45.718 54.56 c
45.718 58.855 l
47.223 58.855 l
47.223 57.151 l
47.441 57.451 47.828 57.703 48.325 57.738 c
49.287 57.806 49.92 57.223 49.92 55.975 c
49.92 51.719 l
f
35.059 66.838 m
35.059 64.569 l
34.834 64.569 l
34.58 65.631 34.042 66.61 33.162 66.62 c
32.621 66.628 32.299 66.367 32.05 65.917 c
31.782 65.432 31.646 64.261 31.646 62.976 c
31.646 61.786 31.699 60.834 31.85 60.198 c
31.926 59.882 32.124 59.4 32.7 59.4 c
33.01 59.4 33.217 59.511 33.371 59.668 c
33.605 59.908 33.645 60.428 33.645 60.797 c
33.645 62.067 l
33.645 62.496 33.483 62.764 33.277 62.89 c
33.106 62.996 32.844 63.006 32.693 63.015 c
32.693 63.227 l
35.146 63.227 l
35.146 57.146 l
34.901 57.146 l
34.803 57.669 34.701 58.005 34.454 58.432 c
34.249 58.783 33.789 59.222 33.155 59.222 c
32.451 59.222 31.92 58.796 31.92 58.095 c
31.92 57.239 32.431 57.021 33.414 56.483 c
34.319 55.99 35.52 55.584 35.52 54.062 c
35.52 52.627 34.384 51.719 32.935 51.719 c
30.493 51.719 l
30.493 54.527 l
30.738 54.527 l
31.121 52.204 32.263 51.947 32.911 51.956 c
33.786 51.966 34.065 52.624 34.036 53.371 c
34.005 54.157 33.377 54.501 32.403 55.052 c
31.121 55.772 30.466 56.13 30.496 57.322 c
30.518 58.324 31.338 58.991 32.292 59.244 c
30.348 59.477 29.792 61.192 29.809 63.027 c
29.827 64.852 30.922 66.838 33.047 66.838 c
35.059 66.838 l
f
BT
/F1 1 Tf
8 0 0 8 219.276 14.5 Tm
0.53 0.32 0.11 0 k
(1)Tj
ET
endstream
endobj
13 0 obj
<>/ProcSet[/PDF/Text]/ColorSpace<>/Font<>>>
endobj
12 0 obj
<>stream
1 0.84 0.31 0.17 k
/GS1 gs
27.5 814.389 369 -86 re
f
BT
/F1 1 Tf
19 0 0 19 33.5 793.3892 Tm
0 0 0 0 k
0 Tc
0 Tw
(Goldman Sachs Global Credit Portfolio )Tj
0 -1.2632 TD
(\(Hedged\))Tj
/F2 1 Tf
14 0 0 14 33.5 743.3892 Tm
0.53 0.32 0.11 0 k
-0.0071 Tc
(A sub-fund of Goldman Sachs Funds, SICAV)Tj
ET
q
0.6 i
396.5 728.389 85 86 re
W n
396.5 814.389 85 -86 re
f
Q
q
0.6 i
399.5 729.389 80 78 re
W n
399.5 807.389 80 -78 re
f
Q
399.5 807.389 80 -30.5 re
f
q
0.6 i
399.5 784.889 80 22.5 re
W n
399.5 807.389 80 -22.5 re
f
Q
BT
/F1 1 Tf
9 0 0 9 399.5 800.3892 Tm
1 0.84 0.31 0.17 k
0 Tc
(Overall Morningstar )Tj
0 -1.2222 TD
(Rating)Tj
4.5 0 0 4.5 422.504 792.8892 Tm
( TM)Tj
ET
q
0.6 i
399.5 776.889 80 8 re
W n
0.53 0.32 0.11 0 k
399.5 784.889 80 -8 re
f
Q
0 0 0 0 k
0.2 i
413.894 781.889 m
417.063 781.889 l
414.51 779.975 l
415.5 776.938 l
412.959 778.809 l
410.417 776.938 l
411.418 779.975 l
408.844 781.889 l
412.002 781.889 l
412.959 784.848 l
f
q
399.5 776.889 27 8 re
W n
402.658 781.89 m
399.5 781.89 l
402.074 779.976 l
401.073 776.939 l
403.615 778.81 l
406.156 776.939 l
405.166 779.976 l
407.719 781.89 l
404.55 781.89 l
403.615 784.848 l
f
423.331 781.89 m
426.5 781.89 l
423.947 779.976 l
424.937 776.939 l
422.396 778.81 l
419.854 776.939 l
420.855 779.976 l
418.281 781.89 l
421.439 781.89 l
422.396 784.849 l
f
Q
0 0.97 1 0.5 k
481.5 814.389 85 -58.5 re
f
q
0.6 i
481.5 755.889 42.5 58.5 re
W n
481.5 814.389 42.5 -58.5 re
f
Q
BT
/F3 1 Tf
36 0 0 36 485.568 777.3892 Tm
0 0.485 0.5 0.25 k
-0.0222 Tc
(05)Tj
ET
0 0.97 1 0.5 k
524 814.389 42.5 -58.5 re
f
BT
36 0 0 36 524 777.3892 Tm
0 0 0 0 k
(18)Tj
ET
q
0.6 i
481.5 728.389 85 40 re
W n
0 0.97 1 0.5 k
481.5 768.389 85 -40 re
f
Q
BT
10 0 0 10 491.5 760.3892 Tm
0 Tc
[(Monthly F)55(und )]TJ
0 -1.3 TD
(Update)Tj
ET
q
0.6 i
27.5 697.889 170 16.5 re
W n
1 0.84 0.31 0.17 k
27.5 714.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 31.5 703.3892 Tm
(Financial Information)Tj
/F2 1 Tf
8 0 0 8 32.5 689.3892 Tm
0 0 0 1 k
-0.025 Tc
(Net Asset Value \(NAV\) - Class P Shares )Tj
0 -1.3125 TD
(\(Acc.\) \(GBP Hedged\))Tj
14.2 1.3125 TD
(GB)Tj
ET
q
142.5 684.889 15 11 re
W n
BT
8 0 0 8 154.148 689.3892 Tm
0 Tc
(P)Tj
ET
Q
BT
8 0 0 8 177.516 689.3892 Tm
(11.81)Tj
ET
q
0.6 i
27.5 661.389 115 13 re
W n
0.132 0.08 0.028 0 k
27.5 674.389 115 -13 re
f
Q
BT
8 0 0 8 32.5 665.8892 Tm
(Total Net Assets \(m\))Tj
ET
q
0.6 i
142.5 661.389 20 13 re
W n
0.132 0.08 0.028 0 k
142.5 674.389 20 -13 re
f
Q
BT
8 0 0 8 145.204 665.8892 Tm
(USD)Tj
ET
q
0.6 i
162.5 661.389 35 13 re
W n
0.132 0.08 0.028 0 k
162.5 674.389 35 -13 re
f
Q
BT
8 0 0 8 182.444 665.8892 Tm
(907)Tj
-18.743 -1.625 TD
[(Current Duration of Portfolio \(years\))-6643(6.20)]TJ
ET
0.132 0.08 0.028 0 k
27.5 648.389 115 -23.5 re
f
BT
8 0 0 8 32.5 639.8892 Tm
0 0 0 1 k
(Current Duration of Reference )Tj
0 -1.3125 TD
(Benchmark \(years\))Tj
ET
0.132 0.08 0.028 0 k
142.5 648.389 20 -23.5 re
f
162.5 648.389 35 -23.5 re
f
BT
8 0 0 8 180.868 639.8892 Tm
0 0 0 1 k
(6.47)Tj
-18.546 -2.9375 TD
[(Yield To Maturity of Portfolio \(%\))-7457(4.07)]TJ
ET
q
0.6 i
27.5 598.889 115 13 re
W n
0.132 0.08 0.028 0 k
27.5 611.889 115 -13 re
f
Q
BT
8 0 0 8 32.5 603.3893 Tm
(Yield To Worst of Portfolio \(%\))Tj
ET
q
0.6 i
142.5 598.889 20 13 re
W n
0.132 0.08 0.028 0 k
142.5 611.889 20 -13 re
f
Q
q
0.6 i
162.5 598.889 35 13 re
W n
0.132 0.08 0.028 0 k
162.5 611.889 35 -13 re
f
Q
BT
8 0 0 8 180.868 603.3893 Tm
(4.06)Tj
ET
q
0.6 i
27.5 576.389 170 16.5 re
W n
1 0.84 0.31 0.17 k
27.5 592.889 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 31.5 581.8892 Tm
0 0 0 0 k
0 Tc
[(F)20(und Characteristics)]TJ
/F2 1 Tf
8 0 0 8 32.5 567.8892 Tm
0 0 0 1 k
-0.025 Tc
(Currency - Class P Shares \(Acc.\) \(GBP )Tj
0 -1.3125 TD
(Hedged\))Tj
18.575 1.3125 TD
(GB)Tj
ET
q
147.5 563.389 45 11 re
W n
BT
8 0 0 8 189.148 567.8892 Tm
0 Tc
(P)Tj
ET
Q
q
0.6 i
27.5 529.389 120 23.5 re
W n
0.132 0.08 0.028 0 k
27.5 552.889 120 -23.5 re
f
Q
BT
8 0 0 8 32.5 544.3892 Tm
(Inception Date - Class P Shares \(Acc.\) )Tj
0 -1.3125 TD
(\(GBP Hedged\))Tj
ET
q
0.6 i
147.5 529.389 50 23.5 re
W n
0.132 0.08 0.028 0 k
147.5 552.889 50 -23.5 re
f
Q
BT
8 0 0 8 164.092 544.3892 Tm
(31-Aug-12)Tj
-16.449 -2.9375 TD
[(Fund Domicile)-11079(Luxembourg)]TJ
ET
q
0.6 i
27.5 493.889 170 16.5 re
W n
1 0.84 0.31 0.17 k
27.5 510.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 31.5 499.3892 Tm
0 0 0 0 k
0 Tc
[(F)20(und F)20(acts)]TJ
/F2 1 Tf
8 0 0 8 32.5 482.3892 Tm
0 0 0 1 k
-0.025 Tc
(ISIN - Class P Shares \(Acc.\) \(GBP )Tj
0 -1.3125 TD
(Hedged\))Tj
14.915 1.3125 TD
(LU0820548633)Tj
ET
q
0.6 i
27.5 443.889 115 23.5 re
W n
0.132 0.08 0.028 0 k
27.5 467.389 115 -23.5 re
f
Q
BT
8 0 0 8 32.5 458.8892 Tm
(Bloomberg Ticker - Class P Shares \(Acc.\) )Tj
0 -1.3125 TD
(\(GBP Hedged\))Tj
ET
q
0.6 i
142.5 443.889 55 23.5 re
W n
0.132 0.08 0.028 0 k
142.5 467.389 55 -23.5 re
f
Q
BT
8 0 0 8 157.164 458.8892 Tm
(GSSBPSH L)Tj
ET
q
142.5 454.389 50 11 re
W n
BT
8 0 0 8 188.7 458.8892 Tm
0 Tc
(X)Tj
ET
Q
BT
8 0 0 8 32.5 435.3893 Tm
[(Dividend Distribution Frequency)-7437(None)]TJ
ET
q
0.6 i
27.5 417.889 115 13 re
W n
0.132 0.08 0.028 0 k
27.5 430.889 115 -13 re
f
Q
BT
8 0 0 8 32.5 422.3892 Tm
(Dealing and valuation)Tj
ET
q
0.6 i
142.5 417.889 55 13 re
W n
0.132 0.08 0.028 0 k
142.5 430.889 55 -13 re
f
Q
BT
8 0 0 8 178.836 422.3892 Tm
(Dail)Tj
ET
q
142.5 417.889 50 11 re
W n
BT
8 0 0 8 189.588 422.3892 Tm
0 Tc
(y)Tj
ET
Q
BT
8 0 0 8 32.5 409.3892 Tm
[(Reporting year end)-9065(30 Novembe)]TJ
ET
q
142.5 404.889 50 11 re
W n
BT
8 0 0 8 190.476 409.3892 Tm
0 Tc
(r)Tj
ET
Q
0.132 0.08 0.028 0 k
27.5 404.889 50 -34 re
f
BT
8 0 0 8 32.5 396.3893 Tm
0 0 0 1 k
(Reference )Tj
T*
(Benchmark)Tj
ET
q
0.6 i
77.5 370.889 120 34 re
W n
0.132 0.08 0.028 0 k
77.5 404.889 120 -34 re
f
Q
BT
8 0 0 8 86.172 396.3893 Tm
(Bloomberg Barclays Global Aggregate - )Tj
0.563 -1.3125 TD
(Corporate Index \(TR, 100% Hedged to )Tj
11.106 -1.3125 TD
(GBP\))Tj
-18.378 -1.625 TD
[(Settlement)-14600(T + 3)]TJ
ET
q
0.6 i
212.5 697.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 714.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 703.3892 Tm
0 0 0 0 k
0 Tc
-0.05 Tw
[(S)20(ector Allocation )-50(\(%\))]TJ
ET
q
0.6 i
397.5 697.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
397.5 714.389 170 -16.5 re
f
Q
BT
10 0 0 10 401.5 703.3892 Tm
0 Tw
[(Country Bond )50(Allocation \(%\))]TJ
ET
q
254 683.889 18 8 re
W n
0 0 0 1 K
0 J 0 j 0.5 w 10 M []0 d
/GS2 gs
270.846 685.91 m
262.45 689.837 254.582 689.142 y
254.5 691.889 m
254.5 686.272 l
269.281 688.483 m
271.19 685.895 l
268.035 684.594 l
S
Q
0 0.97 1 0.5 k
/GS2 gs
0.6 i
252.5 652.889 m
252.5 682.889 l
269.069 682.889 282.5 669.458 282.5 652.889 c
282.5 636.321 269.069 622.889 252.5 622.889 c
235.931 622.889 222.5 636.321 222.5 652.889 c
222.5 653.769 222.539 654.648 222.616 655.525 c
h
252.5 652.889 m
f
0 0 0 0 K
0 J 0 j 0.1 w 10 M []0 d
/GS1 gs
252.5 652.889 m
252.5 682.889 l
269.069 682.889 282.5 669.458 282.5 652.889 c
282.5 636.321 269.069 622.889 252.5 622.889 c
235.931 622.889 222.5 636.321 222.5 652.889 c
222.5 653.769 222.539 654.648 222.616 655.525 c
h
252.5 652.889 m
S
252.5 652.889 m
222.616 655.525 l
223.303 663.32 227.01 670.539 232.945 675.64 c
h
252.5 652.889 m
f
252.5 652.889 m
222.616 655.525 l
223.303 663.32 227.01 670.539 232.945 675.64 c
h
252.5 652.889 m
S
252.5 652.889 m
232.945 675.64 l
234.853 677.28 236.961 678.674 239.217 679.788 c
h
252.5 652.889 m
f
252.5 652.889 m
232.945 675.64 l
234.853 677.28 236.961 678.674 239.217 679.788 c
h
252.5 652.889 m
S
252.5 652.889 m
239.217 679.788 l
239.893 680.122 240.582 680.431 241.281 680.713 c
h
252.5 652.889 m
f
252.5 652.889 m
239.217 679.788 l
239.893 680.122 240.582 680.431 241.281 680.713 c
h
252.5 652.889 m
S
252.5 652.889 m
241.281 680.713 l
241.456 680.783 241.632 680.852 241.808 680.919 c
h
252.5 652.889 m
f
252.5 652.889 m
241.281 680.713 l
241.456 680.783 241.632 680.852 241.808 680.919 c
h
252.5 652.889 m
S
252.5 652.889 m
241.808 680.919 l
244.985 682.131 248.346 682.794 251.746 682.88 c
h
252.5 652.889 m
f
252.5 652.889 m
241.808 680.919 l
244.985 682.131 248.346 682.794 251.746 682.88 c
h
252.5 652.889 m
S
252.5 652.889 m
251.746 682.88 l
251.997 682.886 252.249 682.889 252.5 682.889 c
h
252.5 652.889 m
f
252.5 652.889 m
251.746 682.88 l
251.997 682.886 252.249 682.889 252.5 682.889 c
h
252.5 652.889 m
S
0 0 0 0 k
267.5 652.889 m
267.5 661.173 260.784 667.889 252.5 667.889 c
244.216 667.889 237.5 661.173 237.5 652.889 c
237.5 644.605 244.216 637.889 252.5 637.889 c
260.784 637.889 267.5 644.605 267.5 652.889 c
f
267.5 652.889 m
267.5 661.173 260.784 667.889 252.5 667.889 c
244.216 667.889 237.5 661.173 237.5 652.889 c
237.5 644.605 244.216 637.889 252.5 637.889 c
260.784 637.889 267.5 644.605 267.5 652.889 c
S
BT
/F5 1 Tf
6 0 0 6 290.508 687.3892 Tm
0 0.97 1 0.5 k
-0.0333 Tc
(76.4)Tj
ET
q
0.2 i
287.5 683.889 16 8 re
W n
BT
6 0 0 6 299.032 687.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 687.3892 Tm
0 0 0 1 k
(Corporates - Inv. Grade)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.832 -1.5 TD
(12.3)Tj
ET
q
0.2 i
287.5 674.889 16 8 re
W n
BT
6 0 0 6 299.032 678.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 678.3892 Tm
0 0 0 1 k
(Asset-Backed Securities )Tj
ET
q
0.2 i
307.5 674.889 70 8 re
W n
BT
6 0 0 6 363.684 678.3892 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 365.152 678.3892 Tm
(ABS)Tj
ET
q
0.2 i
307.5 674.889 70 8 re
W n
BT
6 0 0 6 375.22 678.3892 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 292.972 669.3892 Tm
0 0.97 1 0.5 k
(4.0)Tj
ET
q
0.2 i
287.5 665.889 16 8 re
W n
BT
6 0 0 6 299.032 669.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 669.3892 Tm
0 0 0 1 k
(Emerging Market Debt)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(1.2)Tj
ET
q
0.2 i
287.5 656.889 16 8 re
W n
BT
6 0 0 6 299.032 660.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 660.3892 Tm
0 0 0 1 k
(Corporates - High Yield)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(0.3)Tj
ET
q
0.2 i
287.5 647.889 16 8 re
W n
BT
6 0 0 6 299.032 651.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 651.3892 Tm
0 0 0 1 k
(Quasi-Governments)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(0.0)Tj
ET
q
0.2 i
287.5 638.889 16 8 re
W n
BT
6 0 0 6 299.032 642.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 642.3892 Tm
0 0 0 1 k
(Residential Mortgages )Tj
ET
q
0.2 i
307.5 638.889 70 8 re
W n
BT
6 0 0 6 358.756 642.3892 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 360.224 642.3892 Tm
(RMBS)Tj
ET
q
0.2 i
307.5 638.889 70 8 re
W n
BT
6 0 0 6 374.76 642.3892 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 292.972 633.3892 Tm
0 0.97 1 0.5 k
(0.0)Tj
ET
q
0.2 i
287.5 629.889 16 8 re
W n
BT
6 0 0 6 299.032 633.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 633.3892 Tm
0 0 0 1 k
(Commercial Mortgages )Tj
0 -1.25 TD
(\(CMBS\))Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(0.0)Tj
ET
q
0.2 i
287.5 613.389 16 8 re
W n
BT
6 0 0 6 299.032 616.8892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 616.8892 Tm
0 0 0 1 k
(Covered Bonds)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(5.4)Tj
ET
q
0.2 i
287.5 604.389 16 8 re
W n
BT
6 0 0 6 299.032 607.8892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 607.8892 Tm
0 0 0 1 k
(Cash)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(0.4)Tj
ET
q
0.2 i
287.5 595.389 16 8 re
W n
BT
6 0 0 6 299.032 598.8892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 598.8892 Tm
0 0 0 1 k
(Derivatives)Tj
ET
q
0.2 i
439 683.889 18 8 re
W n
0 0 0 1 K
0.5 w
/GS2 gs
455.846 685.91 m
447.45 689.837 439.582 689.142 y
439.5 691.889 m
439.5 686.272 l
454.281 688.483 m
456.19 685.895 l
453.035 684.594 l
S
Q
0 0.97 1 0.5 k
/GS2 gs
437.5 652.889 m
437.5 682.889 l
454.069 682.889 467.5 669.458 467.5 652.889 c
467.5 636.321 454.069 622.889 437.5 622.889 c
420.931 622.889 407.5 636.321 407.5 652.889 c
407.5 657.178 408.42 661.417 410.197 665.32 c
h
437.5 652.889 m
f
/GS1 gs
437.5 652.889 m
437.5 682.889 l
454.069 682.889 467.5 669.458 467.5 652.889 c
467.5 636.321 454.069 622.889 437.5 622.889 c
420.931 622.889 407.5 636.321 407.5 652.889 c
407.5 657.178 408.42 661.417 410.197 665.32 c
h
437.5 652.889 m
S
437.5 652.889 m
410.197 665.32 l
412.929 671.321 417.562 676.254 423.379 679.358 c
h
437.5 652.889 m
f
437.5 652.889 m
410.197 665.32 l
412.929 671.321 417.562 676.254 423.379 679.358 c
h
437.5 652.889 m
S
437.5 652.889 m
423.379 679.358 l
427.051 681.317 431.09 682.49 435.24 682.804 c
h
437.5 652.889 m
f
437.5 652.889 m
423.379 679.358 l
427.051 681.317 431.09 682.49 435.24 682.804 c
h
437.5 652.889 m
S
437.5 652.889 m
435.24 682.804 l
435.365 682.813 435.491 682.822 435.616 682.83 c
h
437.5 652.889 m
f
437.5 652.889 m
435.24 682.804 l
435.366 682.813 435.491 682.822 435.616 682.83 c
h
437.5 652.889 m
S
437.5 652.889 m
435.616 682.83 l
436.243 682.87 436.872 682.889 437.5 682.889 c
h
437.5 652.889 m
f
437.5 652.889 m
435.616 682.83 l
436.243 682.87 436.872 682.889 437.5 682.889 c
h
437.5 652.889 m
S
0 0 0 0 k
452.5 652.889 m
452.5 661.173 445.784 667.889 437.5 667.889 c
429.216 667.889 422.5 661.173 422.5 652.889 c
422.5 644.605 429.216 637.889 437.5 637.889 c
445.784 637.889 452.5 644.605 452.5 652.889 c
f
452.5 652.889 m
452.5 661.173 445.784 667.889 437.5 667.889 c
429.216 667.889 422.5 661.173 422.5 652.889 c
422.5 644.605 429.216 637.889 437.5 637.889 c
445.784 637.889 452.5 644.605 452.5 652.889 c
S
BT
/F5 1 Tf
6 0 0 6 475.508 687.3892 Tm
0 0.97 1 0.5 k
(81.8)Tj
ET
q
0.2 i
472.5 683.889 16 8 re
W n
BT
6 0 0 6 484.032 687.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 492.5 687.3892 Tm
0 0 0 1 k
(US)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.832 -1.5 TD
(10.4)Tj
ET
q
0.2 i
472.5 674.889 16 8 re
W n
BT
6 0 0 6 484.032 678.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 492.5 678.3892 Tm
0 0 0 1 k
(Eurozone)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(6.6)Tj
ET
q
0.2 i
472.5 665.889 16 8 re
W n
BT
6 0 0 6 484.032 669.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 492.5 669.3892 Tm
0 0 0 1 k
(UK)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(0.2)Tj
ET
q
0.2 i
472.5 656.889 16 8 re
W n
BT
6 0 0 6 484.032 660.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 492.5 660.3892 Tm
0 0 0 1 k
(Canada)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(1.0)Tj
ET
q
0.2 i
472.5 647.889 16 8 re
W n
BT
6 0 0 6 484.032 651.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 492.5 651.3892 Tm
0 0 0 1 k
(Other)Tj
ET
q
212.5 560.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 577.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 566.3892 Tm
0 0 0 0 k
0 Tc
-0.05 Tw
[(Credit Allocation )-50(\(%\))]TJ
ET
q
397.5 560.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
397.5 577.389 170 -16.5 re
f
Q
BT
10 0 0 10 401.5 566.3892 Tm
0 Tw
[(T)115(op 1)55(0)0( Corporate Issuer)-20(s)]TJ
/F5 1 Tf
6.5 0 0 6.5 518.36 569.0892 Tm
(\(5\))Tj
ET
0 0 0 0.4 K
0.2 w
264.5 440.334 m
379.5 440.334 l
264.5 454.778 m
379.5 454.778 l
264.5 469.223 m
379.5 469.223 l
264.5 483.667 m
379.5 483.667 l
264.5 498.111 m
379.5 498.111 l
264.5 512.556 m
379.5 512.556 l
264.5 527 m
379.5 527 l
264.5 541.445 m
379.5 541.445 l
264.5 555.889 m
379.5 555.889 l
S
0.38 0.27 0.07 0 k
264.5 426.389 m
264.5 433.111 l
264.5 426.389 l
f
BT
/F2 1 Tf
5 0 0 5 269.17 427.7504 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
264.5 439.834 0.657 -6.722 re
f
BT
5 0 0 5 269.8271 434.4726 Tm
/Cs7 cs 0 scn
(0.4 )Tj
ET
0.38 0.27 0.07 0 k
264.5 440.834 m
264.5 447.556 l
264.5 440.834 l
f
BT
5 0 0 5 269.17 442.1948 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
264.5 454.278 8.871 -6.722 re
f
BT
5 0 0 5 278.0414 448.917 Tm
/Cs7 cs 0 scn
(5.4 )Tj
ET
0.38 0.27 0.07 0 k
264.5 462 1.807 -6.722 re
f
BT
5 0 0 5 270.9771 456.6392 Tm
/Cs7 cs 0 scn
(1.1 )Tj
ET
0 0.97 1 0.5 k
264.5 468.723 1.15 -6.722 re
f
BT
5 0 0 5 270.32 463.3615 Tm
/Cs7 cs 0 scn
(0.7 )Tj
ET
0.38 0.27 0.07 0 k
264.5 469.723 m
264.5 476.445 l
264.5 469.723 l
f
BT
5 0 0 5 269.17 471.0837 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
264.5 476.445 m
264.5 483.167 l
264.5 476.445 l
f
BT
5 0 0 5 269.17 477.8059 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0.38 0.27 0.07 0 k
264.5 484.167 m
264.5 490.889 l
264.5 484.167 l
f
BT
5 0 0 5 269.17 485.5281 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
264.5 497.611 0.821 -6.722 re
f
BT
5 0 0 5 269.9915 492.2504 Tm
/Cs7 cs 0 scn
(0.5 )Tj
ET
0.38 0.27 0.07 0 k
264.5 505.334 71.793 -6.722 re
f
BT
5 0 0 5 339.8528 499.9725 Tm
/Cs7 cs 0 scn
(43.7 )Tj
ET
0 0.97 1 0.5 k
264.5 512.056 87.236 -6.722 re
f
BT
5 0 0 5 355.2957 506.6948 Tm
/Cs7 cs 0 scn
(53.1 )Tj
ET
0.38 0.27 0.07 0 k
264.5 519.778 66.043 -6.722 re
f
BT
5 0 0 5 334.1028 514.417 Tm
/Cs7 cs 0 scn
(40.2 )Tj
ET
0 0.97 1 0.5 k
264.5 526.5 37.457 -6.722 re
f
BT
5 0 0 5 305.5171 521.1392 Tm
/Cs7 cs 0 scn
(22.8 )Tj
ET
0.38 0.27 0.07 0 k
264.5 534.223 22.014 -6.722 re
f
BT
5 0 0 5 290.0743 528.8615 Tm
/Cs7 cs 0 scn
(13.4 )Tj
ET
0 0.97 1 0.5 k
264.5 540.945 10.186 -6.722 re
f
BT
5 0 0 5 279.3557 535.5837 Tm
/Cs7 cs 0 scn
(6.2 )Tj
ET
0.38 0.27 0.07 0 k
264.5 548.667 2.629 -6.722 re
f
BT
5 0 0 5 271.7986 543.3058 Tm
/Cs7 cs 0 scn
(1.6 )Tj
ET
0 0.97 1 0.5 k
264.5 555.389 17.743 -6.722 re
f
BT
5 0 0 5 285.8029 550.0281 Tm
/Cs7 cs 0 scn
(10.8 )Tj
ET
0 0 0 1 K
0.5 w
264.5 425.889 m
379.5 425.889 l
264.5 425.889 m
264.5 422.889 l
S
BT
5 0 0 5 263.39 416.8893 Tm
0 0 0 1 k
(0)Tj
ET
280.929 425.889 m
280.929 422.889 l
S
BT
5 0 0 5 278.7086 416.8893 Tm
(10)Tj
ET
297.357 425.889 m
297.357 422.889 l
S
BT
5 0 0 5 295.1371 416.8893 Tm
(20)Tj
ET
313.786 425.889 m
313.786 422.889 l
S
BT
5 0 0 5 311.5657 416.8893 Tm
(30)Tj
ET
330.214 425.889 m
330.214 422.889 l
S
BT
5 0 0 5 327.9943 416.8893 Tm
(40)Tj
ET
346.643 425.889 m
346.643 422.889 l
S
BT
5 0 0 5 344.4229 416.8893 Tm
(50)Tj
ET
363.071 425.889 m
363.071 422.889 l
S
BT
5 0 0 5 360.8514 416.8893 Tm
(60)Tj
ET
379.5 425.889 m
379.5 422.889 l
S
BT
5 0 0 5 377.28 416.8893 Tm
(70)Tj
ET
264.5 425.889 m
264.5 555.889 l
S
BT
6 0 0 6 212.5 431.1115 Tm
(Derivatives)Tj
0 2.4074 TD
(Cash)Tj
T*
(NR)Tj
T*
(B)Tj
T*
(BB)Tj
T*
(BBB)Tj
T*
(A)Tj
T*
(AA)Tj
T*
(AAA)Tj
ET
q
212.5 392.389 5 20.5 re
W n
0 0.97 1 0.5 K
10 w
212.5 412.889 m
217.5 412.889 l
S
Q
BT
/F1 1 Tf
6 0 0 6 220.5 408.3892 Tm
-0.0333 Tc
(Goldman Sachs Global Credit )Tj
0 -1.25 TD
(Portfolio \(Hedged\))Tj
ET
q
297.5 392.389 5 20.5 re
W n
0.38 0.27 0.07 0 K
10 w
297.5 412.889 m
302.5 412.889 l
S
Q
BT
6 0 0 6 305.5 408.3892 Tm
(Bloomberg Barclays Global Agg: )Tj
T*
(Corp Bond in USD , 100% Hedged)Tj
/F2 1 Tf
8 0 0 8 402.5 552.3893 Tm
-0.025 Tc
[(Security)-16503(%)]TJ
ET
q
397.5 532.889 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 546.889 120 -14 re
f
Q
BT
8 0 0 8 402.5 538.3892 Tm
(VERIZON COMMUNICATIONS, INC.)Tj
ET
q
517.5 532.889 50 14 re
W n
0.132 0.08 0.028 0 k
517.5 546.889 50 -14 re
f
Q
BT
8 0 0 8 554.22 538.3892 Tm
(2.9)Tj
-18.965 -1.75 TD
[(AT&T INC.)-15358(2.3)]TJ
ET
q
397.5 504.889 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 518.889 120 -14 re
f
Q
BT
8 0 0 8 402.5 510.3892 Tm
(BANK OF AMERICA CORPORATION)Tj
ET
0.132 0.08 0.028 0 k
517.5 518.889 50 -14 re
f
BT
8 0 0 8 554.22 510.3892 Tm
0 0 0 1 k
(2.2)Tj
-18.965 -1.75 TD
[(CREDIT SUISSE GROUP AG)-9737(2.1)]TJ
ET
q
397.5 476.889 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 490.889 120 -14 re
f
Q
BT
8 0 0 8 402.5 482.3892 Tm
(BRITISH AMERICAN TOBACCO P.L.C.)Tj
ET
q
517.5 476.889 50 14 re
W n
0.132 0.08 0.028 0 k
517.5 490.889 50 -14 re
f
Q
BT
8 0 0 8 554.22 482.3892 Tm
(2.0)Tj
-18.965 -1.75 TD
[(BECTON, DICKINSON AND COMPANY)-5801(1.7)]TJ
ET
q
397.5 448.889 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 462.889 120 -14 re
f
Q
BT
8 0 0 8 402.5 454.3892 Tm
(MORGAN STANLEY)Tj
ET
0.132 0.08 0.028 0 k
517.5 462.889 50 -14 re
f
BT
8 0 0 8 554.22 454.3892 Tm
0 0 0 1 k
(1.7)Tj
-18.965 -1.75 TD
[(CHARTER COMMUNICATIONS, INC.)-6554(1.7)]TJ
ET
q
397.5 420.889 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 434.889 120 -14 re
f
Q
BT
8 0 0 8 402.5 426.3893 Tm
(AXA)Tj
ET
0.132 0.08 0.028 0 k
517.5 434.889 50 -14 re
f
BT
8 0 0 8 554.22 426.3893 Tm
0 0 0 1 k
(1.7)Tj
-18.965 -1.75 TD
[(CVS HEALTH CORPORATION)-9181(1.6)]TJ
/F5 1 Tf
-23.125 -31.6112 TD
(Please see Additional Notes. All performance and holdings data as at 31-May-18. Past performance does not )Tj
0 -1.25 TD
(guarantee future results, which may vary. The value of investments and the income derived from investments will )Tj
ET
q
0.2 i
217.5 135 350 30.5 re
W n
BT
8 0 0 8 217.5 139.5 Tm
0 Tc
()Tj
ET
Q
BT
8 0 0 8 221.3 139.5 Tm
(uctuate and can go down as well as up. A loss of capital may occur.)Tj
/F2 1 Tf
4 0 0 4 217.5 132 Tm
0 Tc
(\(1\))Tj
8 0 0 8 221.052 129 Tm
(The Morningstar sector average gures are calculated using all open funds available in the universe at the indicated )Tj
-0.444 -1.25 TD
(time period. The number of funds in a Morningstar sector varies over time as new funds are launched and funds close. )Tj
T*
[(Source: Morningstar 2018 Morningstar)70(, Inc. All Rights Reserved.)]TJ
4 0 0 4 411.252 112 Tm
( \(2\))Tj
8 0 0 8 415.692 109 Tm
(The ongoing charges gure is based on expenses )Tj
-24.774 -1.25 TD
[(during the previous year)70(. See details in the Key Investor Information Document.)]TJ
4 0 0 4 447.9321 102 Tm
( \(3\))Tj
8 0 0 8 452.372 99 Tm
(The Bloomberg Barclays Global )Tj
-29.359 -1.25 TD
(Aggregate Corporate Bond Index is quoted at month-end with income reinvested and, in contrast to the Portfolio, is )Tj
T*
(shown without the deduction of any expenses.)Tj
4 0 0 4 353.868 82 Tm
( \(4\))Tj
8 0 0 8 358.308 79 Tm
(Fund returns are shown net of applicable ongoing fees within the )Tj
-17.601 -1.25 TD
[(portfolio, with dividends re-invested using the ex-dividend NA)37(V)100(.)0( These returns are for comparison of performance against )]TJ
T*
(specied index. As the investor may be liable to other fees, charges and taxes, they are not meant to provide a measure )Tj
T*
(of actual return to investors. The performance data do not take account of the commissions and costs incurred on the )Tj
T*
(issue and redemption of shares.)Tj
4 0 0 4 311.668 42 Tm
( \(5\))Tj
8 0 0 8 316.108 39 Tm
(Portfolio holdings may not represent current, future investments or all of the )Tj
-12.326 -1.25 TD
(portfolio's holdings. Future portfolio holdings may not be protable.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
105.942 52.574 106.042 52.574 106.12 52.595 c
106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
93.618 40.706 93.663 40.349 93.696 40.002 c
92.227 40.002 l
92.159 40.751 l
92.137 40.751 l
91.801 40.169 91.344 39.891 90.659 39.891 c
89.561 39.891 89.157 40.706 89.157 41.693 c
89.157 43.564 90.601 43.642 92.071 43.62 c
92.071 44.057 l
92.071 44.538 92.003 44.887 91.432 44.887 c
90.884 44.887 90.838 44.472 90.838 44.023 c
89.292 44.023 l
89.292 44.707 89.504 45.144 89.874 45.401 c
90.232 45.672 90.749 45.772 91.353 45.772 c
93.359 45.772 93.618 44.91 93.618 43.877 c
93.618 41.054 l
f
96.451 45.088 m
96.474 45.088 l
96.632 45.346 96.821 45.514 97.033 45.614 c
97.26 45.727 97.516 45.772 97.807 45.772 c
98.556 45.772 99.22 45.322 99.22 44.538 c
99.22 40.002 l
97.64 40.002 l
97.64 43.9 l
97.64 44.403 97.549 44.797 97.046 44.797 c
96.541 44.797 96.451 44.403 96.451 43.9 c
96.451 40.002 l
94.871 40.002 l
94.871 45.66 l
96.451 45.66 l
96.451 45.088 l
f
101.795 41.761 m
101.795 41.357 101.862 40.865 102.379 40.865 c
103.309 40.865 103.164 42.118 103.164 42.735 c
102.379 42.701 101.795 42.77 101.795 41.761 c
104.709 41.054 m
104.709 40.706 104.754 40.349 104.789 40.002 c
103.318 40.002 l
103.253 40.751 l
103.231 40.751 l
102.896 40.169 102.436 39.891 101.753 39.891 c
100.652 39.891 100.25 40.706 100.25 41.693 c
100.25 43.564 101.695 43.642 103.164 43.62 c
103.164 44.057 l
103.164 44.538 103.097 44.887 102.525 44.887 c
101.975 44.887 101.931 44.472 101.931 44.023 c
100.386 44.023 l
100.386 44.707 100.598 45.144 100.967 45.401 c
101.326 45.672 101.841 45.772 102.446 45.772 c
104.453 45.772 104.709 44.91 104.709 43.877 c
104.709 41.054 l
f
108.061 41.054 m
108.63 41.054 108.708 41.648 108.708 42.848 c
108.708 44.091 108.653 44.797 108.072 44.797 c
107.476 44.797 107.374 44.382 107.374 42.657 c
107.374 42.129 107.296 41.054 108.061 41.054 c
110.29 45.66 m
110.29 39.765 l
110.29 39.374 110.311 37.826 108.136 37.826 c
106.959 37.826 105.953 38.131 105.919 39.509 c
107.465 39.509 l
107.465 39.274 107.499 39.072 107.599 38.938 c
107.702 38.791 107.881 38.713 108.126 38.713 c
108.519 38.713 108.708 39.082 108.708 39.655 c
108.708 40.741 l
108.687 40.741 l
108.453 40.303 108.003 40.08 107.488 40.08 c
105.751 40.08 105.83 41.67 105.83 42.949 c
105.83 44.192 105.852 45.772 107.499 45.772 c
108.061 45.772 108.54 45.525 108.765 44.997 c
108.787 44.997 l
108.787 45.66 l
110.29 45.66 l
f
114.523 43.464 m
114.523 44.012 114.546 44.797 113.795 44.797 c
113.067 44.797 113.08 43.944 113.08 43.464 c
h
113.08 42.578 m
113.08 41.904 113.101 40.898 113.795 40.898 c
114.356 40.898 114.468 41.435 114.468 41.904 c
116.071 41.904 l
116.048 41.288 115.846 40.785 115.464 40.439 c
115.095 40.091 114.535 39.891 113.795 39.891 c
111.757 39.891 111.488 41.133 111.488 42.903 c
111.488 44.45 111.713 45.772 113.795 45.772 c
115.924 45.772 116.16 44.393 116.105 42.578 c
113.08 42.578 l
f
118.85 45.088 m
118.873 45.088 l
119.186 45.593 119.612 45.772 120.205 45.772 c
120.767 45.772 121.213 45.502 121.471 45.055 c
121.842 45.546 122.29 45.772 122.938 45.772 c
123.69 45.772 124.351 45.322 124.351 44.538 c
124.351 40.002 l
122.771 40.002 l
122.771 43.9 l
122.771 44.403 122.682 44.797 122.176 44.797 c
121.674 44.797 121.584 44.403 121.584 43.9 c
121.584 40.002 l
120.039 40.002 l
120.039 43.9 l
120.039 44.403 119.948 44.797 119.444 44.797 c
118.94 44.797 118.85 44.403 118.85 43.9 c
118.85 40.002 l
117.271 40.002 l
117.271 45.66 l
118.85 45.66 l
118.85 45.088 l
f
128.441 43.464 m
128.441 44.012 128.462 44.797 127.712 44.797 c
126.983 44.797 126.994 43.944 126.994 43.464 c
h
126.994 42.578 m
126.994 41.904 127.016 40.898 127.712 40.898 c
128.272 40.898 128.384 41.435 128.384 41.904 c
129.986 41.904 l
129.965 41.288 129.762 40.785 129.381 40.439 c
129.011 40.091 128.453 39.891 127.712 39.891 c
125.673 39.891 125.405 41.133 125.405 42.903 c
125.405 44.45 125.628 45.772 127.712 45.772 c
129.84 45.772 130.076 44.393 130.02 42.578 c
126.994 42.578 l
f
132.777 45.088 m
132.798 45.088 l
132.955 45.346 133.146 45.514 133.359 45.614 c
133.582 45.727 133.842 45.772 134.131 45.772 c
134.882 45.772 135.544 45.322 135.544 44.538 c
135.544 40.002 l
133.963 40.002 l
133.963 43.9 l
133.963 44.403 133.875 44.797 133.37 44.797 c
132.867 44.797 132.777 44.403 132.777 43.9 c
132.777 40.002 l
131.197 40.002 l
131.197 45.66 l
132.777 45.66 l
132.777 45.088 l
f
q
27.594 27.518 111.827 41.827 re
W n
136.385 45.66 m
137.024 45.66 l
137.024 46.556 l
138.602 47.262 l
138.602 45.66 l
139.421 45.66 l
139.421 44.685 l
138.602 44.685 l
138.602 41.659 l
138.602 41.233 138.591 40.954 139.108 40.954 c
139.209 40.954 139.309 40.954 139.387 40.975 c
139.387 40.002 l
139.175 39.978 138.95 39.944 138.57 39.944 c
137.203 39.944 137.024 40.852 137.024 41.2 c
137.024 44.685 l
136.385 44.685 l
136.385 45.66 l
f
0.5 0.25 0 0.1 k
27.595 69.345 41.778 -41.827 re
f
Q
0 0 0 0 k
39.023 62.533 m
39.023 61.455 39.023 60.486 38.811 60.031 c
38.705 59.804 38.549 59.675 38.266 59.675 c
37.984 59.675 37.826 59.804 37.721 60.031 c
37.507 60.486 37.508 61.455 37.508 62.533 c
37.508 63.612 37.507 64.582 37.721 65.037 c
37.826 65.262 37.984 65.39 38.266 65.39 c
38.549 65.39 38.705 65.262 38.811 65.037 c
39.023 64.582 39.023 63.612 39.023 62.533 c
39.587 65.077 m
39.209 65.396 38.8 65.598 38.266 65.598 c
37.738 65.597 37.321 65.373 36.961 65.047 c
36.422 64.559 35.95 63.711 35.95 62.533 c
35.95 61.459 36.319 60.515 36.947 59.99 c
37.326 59.674 37.734 59.469 38.266 59.469 c
38.8 59.469 39.209 59.674 39.587 59.99 c
40.212 60.515 40.583 61.459 40.583 62.533 c
40.583 63.609 40.212 64.551 39.587 65.077 c
f
64.062 59.582 m
62.557 59.582 l
62.557 65.496 l
63.957 65.496 l
63.957 64.83 l
64.134 65.212 64.574 65.555 65.164 65.599 c
66.128 65.668 66.764 65.084 66.764 63.835 c
66.764 59.582 l
65.26 59.582 l
65.26 64.149 l
65.26 64.645 65.247 65.084 64.898 65.173 c
64.748 65.212 64.536 65.188 64.384 65.055 c
64.129 64.826 64.062 64.557 64.062 64.146 c
64.062 59.582 l
f
59.823 63.199 m
59.343 62.888 l
58.839 62.59 58.748 62.204 58.711 61.756 c
58.68 61.415 58.674 60.876 58.711 60.369 c
58.748 59.866 59.051 59.767 59.314 59.876 c
59.645 60.009 59.823 60.494 59.823 61.066 c
h
60.68 65.322 m
61.096 65.076 61.33 64.738 61.33 63.964 c
61.33 59.582 l
59.871 59.582 l
59.871 60.169 l
59.689 59.76 59.267 59.484 58.608 59.484 c
58.04 59.484 57.146 59.729 57.146 61.092 c
57.146 62.351 57.992 62.619 58.873 63.005 c
59.731 63.381 59.823 63.434 59.823 63.757 c
59.823 64.812 l
59.823 65.211 59.591 65.388 59.157 65.363 c
58.99 65.35 58.687 65.262 58.672 65.049 c
58.649 64.758 58.933 64.707 58.974 64.295 c
59.031 63.718 58.549 63.47 58.109 63.494 c
57.818 63.51 57.439 63.683 57.403 64.183 c
57.348 64.945 58.229 65.597 59.477 65.597 c
60.027 65.597 60.39 65.498 60.68 65.322 c
f
38.785 55.336 m
38.302 55.027 l
37.801 54.73 37.712 54.343 37.672 53.896 c
37.642 53.554 37.632 53.016 37.672 52.509 c
37.707 52.006 38.01 51.908 38.279 52.02 c
38.605 52.15 38.785 52.635 38.785 53.203 c
h
39.64 57.463 m
40.057 57.216 40.291 56.875 40.291 56.102 c
40.291 51.719 l
38.835 51.719 l
38.833 52.308 l
38.65 51.9 38.227 51.623 37.569 51.623 c
37.001 51.623 36.107 51.867 36.107 53.232 c
36.107 54.49 36.95 54.756 37.835 55.144 c
38.695 55.518 38.785 55.575 38.785 55.895 c
38.785 56.952 l
38.785 57.35 38.553 57.528 38.119 57.502 c
37.949 57.489 37.65 57.4 37.632 57.188 c
37.607 56.897 37.895 56.846 37.935 56.439 c
37.992 55.857 37.509 55.611 37.072 55.633 c
36.776 55.649 36.399 55.822 36.363 56.324 c
36.308 57.086 37.19 57.737 38.438 57.737 c
38.989 57.737 39.352 57.635 39.64 57.463 c
f
56.294 59.582 m
56.294 63.835 l
56.294 65.084 55.676 65.668 54.712 65.599 c
54.051 65.55 53.653 65.143 53.499 64.743 c
53.257 65.363 52.754 65.645 52.067 65.599 c
51.475 65.555 51.071 65.212 50.891 64.83 c
50.891 65.496 l
49.527 65.496 l
49.527 59.582 l
50.998 59.582 l
50.998 64.146 l
50.998 64.557 51.07 64.836 51.32 65.055 c
51.486 65.194 51.648 65.212 51.801 65.173 c
52.145 65.084 52.16 64.645 52.16 64.149 c
52.16 59.582 l
53.648 59.582 l
53.648 64.158 l
53.648 64.569 53.706 64.83 53.969 65.055 c
54.133 65.194 54.297 65.212 54.446 65.173 c
54.791 65.084 54.809 64.645 54.809 64.149 c
54.809 59.582 l
56.294 59.582 l
f
41.444 66.715 1.522 -7.133 re
f
46.442 65.086 m
46.753 64.629 46.776 63.513 46.776 62.663 c
46.776 61.809 46.827 60.535 46.46 60.071 c
46.316 59.886 46.225 59.811 45.993 59.811 c
45.69 59.811 45.485 60.136 45.42 60.74 c
45.361 61.262 45.345 62.014 45.345 62.703 c
45.345 63.621 45.392 64.305 45.582 64.881 c
45.653 65.09 45.802 65.315 46.018 65.315 c
46.234 65.315 46.343 65.229 46.442 65.086 c
48.249 59.582 m
48.249 66.715 l
46.745 66.715 l
46.745 65.037 l
46.591 65.35 46.296 65.57 45.844 65.57 c
44.732 65.57 43.865 64.412 43.821 62.674 c
43.793 61.507 44.193 59.52 45.71 59.52 c
46.357 59.52 46.616 59.809 46.806 60.217 c
46.806 59.582 l
48.249 59.582 l
f
54.326 57.736 m
54.326 56.038 l
54.112 56.038 l
53.965 56.734 53.631 57.502 52.881 57.526 c
52.502 57.539 52.043 57.314 52.009 56.862 c
51.974 56.422 52.131 56.071 52.908 55.621 c
53.88 55.058 54.689 54.785 54.689 53.609 c
54.689 52.23 53.622 51.718 52.508 51.718 c
50.93 51.718 l
50.93 53.781 l
51.135 53.781 l
51.433 52.543 51.747 51.951 52.654 51.951 c
53.199 51.951 53.582 52.328 53.582 52.932 c
53.582 53.485 53.207 53.856 52.383 54.345 c
51.479 54.88 50.869 55.224 50.869 56.087 c
50.869 56.98 51.543 57.737 52.738 57.737 c
53.137 57.737 54.326 57.736 y
f
49.92 51.719 m
48.417 51.719 l
48.417 56.287 l
48.417 56.785 48.402 57.223 48.06 57.312 c
47.908 57.351 47.692 57.326 47.546 57.194 c
47.289 56.965 47.222 56.697 47.222 56.285 c
47.222 51.719 l
45.717 51.719 l
45.717 53.412 l
45.496 52.623 44.818 51.614 43.679 51.614 c
42.745 51.614 41.15 52.054 41.15 54.612 c
41.15 56.99 42.721 57.727 43.552 57.737 c
44.196 57.741 44.614 57.536 44.901 57.116 c
45.131 56.78 45.16 56.211 44.849 55.863 c
44.481 55.455 43.649 55.522 43.482 56.08 c
43.332 56.584 43.643 56.887 43.847 57.127 c
43.966 57.273 43.949 57.527 43.533 57.527 c
42.982 57.527 42.842 56.893 42.784 56.397 c
42.645 55.129 42.656 53.953 42.788 53.064 c
42.876 52.455 43.045 51.888 43.826 51.878 c
44.829 51.865 45.663 53.275 45.718 54.56 c
45.718 58.855 l
47.223 58.855 l
47.223 57.151 l
47.441 57.451 47.828 57.703 48.325 57.738 c
49.287 57.806 49.92 57.223 49.92 55.975 c
49.92 51.719 l
f
35.059 66.838 m
35.059 64.569 l
34.834 64.569 l
34.58 65.631 34.042 66.61 33.162 66.62 c
32.621 66.628 32.299 66.367 32.05 65.917 c
31.782 65.432 31.646 64.261 31.646 62.976 c
31.646 61.786 31.699 60.834 31.85 60.198 c
31.926 59.882 32.124 59.4 32.7 59.4 c
33.01 59.4 33.217 59.511 33.371 59.668 c
33.605 59.908 33.645 60.428 33.645 60.797 c
33.645 62.067 l
33.645 62.496 33.483 62.764 33.277 62.89 c
33.106 62.996 32.844 63.006 32.693 63.015 c
32.693 63.227 l
35.146 63.227 l
35.146 57.146 l
34.901 57.146 l
34.803 57.669 34.701 58.005 34.454 58.432 c
34.249 58.783 33.789 59.222 33.155 59.222 c
32.451 59.222 31.92 58.796 31.92 58.095 c
31.92 57.239 32.431 57.021 33.414 56.483 c
34.319 55.99 35.52 55.584 35.52 54.062 c
35.52 52.627 34.384 51.719 32.935 51.719 c
30.493 51.719 l
30.493 54.527 l
30.738 54.527 l
31.121 52.204 32.263 51.947 32.911 51.956 c
33.786 51.966 34.065 52.624 34.036 53.371 c
34.005 54.157 33.377 54.501 32.403 55.052 c
31.121 55.772 30.466 56.13 30.496 57.322 c
30.518 58.324 31.338 58.991 32.292 59.244 c
30.348 59.477 29.792 61.192 29.809 63.027 c
29.827 64.852 30.922 66.838 33.047 66.838 c
35.059 66.838 l
f
BT
/F1 1 Tf
8 0 0 8 219.276 14.5 Tm
0.53 0.32 0.11 0 k
(2)Tj
ET
endstream
endobj
15 0 obj
<>/ProcSet[/PDF/Text]/Font<>>>
endobj
14 0 obj
<>stream
q
0.6 i
27.5 774.389 540 40 re
W n
0 0.97 1 0.5 k
/GS1 gs
27.5 814.389 540 -40 re
f
Q
BT
/F1 1 Tf
15 0 0 15 34.5 788.8893 Tm
0 0 0 0 k
/GS1 gs
-0.0007 Tc
0 Tw
(Goldman Sachs Global Credit Portfolio \(Hedged\))Tj
/F5 1 Tf
8.5 0 0 8.5 27.5 757.8893 Tm
0.53 0.32 0.11 0 k
0 Tc
(Important Risk Considerations)Tj
ET
q
0.6 i
27.5 735.389 540 15 re
W n
1 0.84 0.31 0.17 K
0 J 0 j 2 w 10 M []0 d
27.5 750.389 m
567.5 750.389 l
S
Q
BT
/F6 1 Tf
6 0 0 6 27.5 728.8892 Tm
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 728.8892 Tm
0 0 0 1 k
(Contingent Convertible \(Coco\) Bond Risk)Tj
/F1 1 Tf
8 0 0 8 184.839 728.8892 Tm
( investment in this particular type of bond may result in material losses to the Portfolio based on certain trigger events. )Tj
-18.4174 -1.3125 TD
(The existence of these trigger events creates a different type of risk from traditional bonds and may more likely result in a p)Tj
49.097 0 TD
(artial or total loss of value or alternatively )Tj
-49.097 -1.3125 TD
(they may be converted into shares of the issuing company which may also have suffered a loss in value.)Tj
/F6 1 Tf
6 0 0 6 27.5 695.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 695.8892 Tm
0 0 0 1 k
(Counterparty risk)Tj
/F1 1 Tf
8 0 0 8 96.9915 695.8892 Tm
( a party that the Portfolio transacts with may fail to meet its obligations which could cause losses.)Tj
/F6 1 Tf
6 0 0 6 27.5 683.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 683.8892 Tm
0 0 0 1 k
(Credit risk)Tj
/F1 1 Tf
8 0 0 8 73.387 683.8892 Tm
( the failure of a counterparty or an issuer of a nancial asset held within the Portfolio to meet its payment obligations will )Tj
48.322 0 TD
(have a negative impact on the )Tj
-52.8079 -1.3125 TD
(Portfolio.)Tj
/F6 1 Tf
6 0 0 6 27.5 661.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 661.3892 Tm
0 0 0 1 k
(Custodian risk)Tj
/F1 1 Tf
8 0 0 8 87.0805 661.3892 Tm
( insolvency, breaches of duty of care or misconduct of a custodian or subcustodian responsible for the safekeeping of the Portf)Tj
50.711 0 TD
(olio's assets can result )Tj
-56.9085 -1.3125 TD
(in loss to the Portfolio.)Tj
/F6 1 Tf
6 0 0 6 27.5 638.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 638.8892 Tm
0 0 0 1 k
(Derivatives risk)Tj
/F1 1 Tf
8 0 0 8 91.7895 638.8892 Tm
( derivative instruments are highly sensitive to changes in the value of the underlying asset that they are based on. Certain de)Tj
49.598 0 TD
(rivatives may result in )Tj
-56.3842 -1.3125 TD
(losses greater than the amount originally invested.)Tj
/F6 1 Tf
6 0 0 6 27.5 616.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 616.3892 Tm
0 0 0 1 k
(Emerging markets risk)Tj
/F1 1 Tf
8 0 0 8 114.9265 616.3892 Tm
( emerging markets are likely to bear higher risk due to lower liquidity and possible lack of adequate nancial, legal, social, )Tj
48.817 0 TD
(political and )Tj
-58.4953 -1.3125 TD
(economic structures, protection and stability as well as uncertain tax positions.)Tj
/F6 1 Tf
6 0 0 6 27.5 593.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 593.8892 Tm
0 0 0 1 k
(Exchange rate risk)Tj
/F1 1 Tf
8 0 0 8 102.185 593.8892 Tm
( changes in exchange rates may reduce or increase the returns an investor might expect to receive independent of the performanc)Tj
52.266 0 TD
(e of such )Tj
-60.3516 -1.3125 TD
(assets. If applicable, investment techniques used to attempt to reduce the risk of currency movements \(hedging\), may not be ef)Tj
50.878 0 TD
(fective. Hedging also involves )Tj
-50.878 -1.3125 TD
(additional risks associated with derivatives.)Tj
/F6 1 Tf
6 0 0 6 27.5 560.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 560.8892 Tm
0 0 0 1 k
(Interest rate risk)Tj
/F1 1 Tf
8 0 0 8 94.6285 560.8892 Tm
( when interest rates rise, bond prices fall, reecting the ability of investors to obtain a more attractive rate of interest on)Tj
47.71 0 TD
( their money elsewhere. )Tj
-54.8511 -1.3125 TD
(Bond prices are therefore subject to movements in interest rates which may move for a number of reasons, political as well as e)Tj
51.096 0 TD
(conomic.)Tj
/F6 1 Tf
6 0 0 6 27.5 538.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 538.3892 Tm
0 0 0 1 k
(Leverage risk)Tj
/F1 1 Tf
8 0 0 8 84.233 538.3892 Tm
( the Portfolio may operate with a signicant amount of leverage. Leverage occurs when the economic exposure created by the use )Tj
52.433 0 TD
(of derivatives is )Tj
-58.2746 -1.3125 TD
(greater than the amount invested. A leveraged Portfolio may result in large uctuations in the value of the Portfolio and there)Tj
49.713 0 TD
(fore entails a high degree of risk )Tj
-49.713 -1.3125 TD
(including the risk that losses may be substantial.)Tj
/F6 1 Tf
6 0 0 6 27.5 505.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 505.3892 Tm
0 0 0 1 k
(Liquidity risk)Tj
/F1 1 Tf
8 0 0 8 82.3545 505.3892 Tm
( the Portfolio may not always nd another party willing to purchase an asset that the Portfolio wants to sell which could impac)Tj
50.267 0 TD
(t the Portfolio's ability to )Tj
-55.8738 -1.3125 TD
(meet redemption requests on demand.)Tj
/F6 1 Tf
6 0 0 6 27.5 482.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 482.8892 Tm
0 0 0 1 k
(Market risk)Tj
/F1 1 Tf
8 0 0 8 77.6285 482.8892 Tm
( the value of assets in the Portfolio is typically dictated by a number of factors, including the condence levels of the marke)Tj
49.044 0 TD
(t in which they are traded.)Tj
/F6 1 Tf
6 0 0 6 27.5 470.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 470.8892 Tm
0 0 0 1 k
(Operational risk)Tj
/F1 1 Tf
8 0 0 8 93.2175 470.8892 Tm
( material losses to the Portfolio may arise as a result of human error, system and/or process failures, inadequate procedures o)Tj
50.318 0 TD
(r controls.)Tj
/F6 1 Tf
6 0 0 6 27.5 458.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 458.8892 Tm
0 0 0 1 k
(Mortgage-backed securities \(MBS\) and asset-backed securities \(ABS\) risk)Tj
/F1 1 Tf
8 0 0 8 310.8685 458.8892 Tm
( the mortgages backing MBS and assets backing ABS may be repaid earlier )Tj
-34.1711 -1.3125 TD
(than required, resulting in a lower return.)Tj
/F5 1 Tf
8.5 0 0 8.5 27.5 341.3892 Tm
0.53 0.32 0.11 0 k
(Glossary)Tj
ET
q
0.6 i
27.5 318.889 540 15 re
W n
1 0.84 0.31 0.17 K
0 J 0 j 2 w 10 M []0 d
27.5 333.889 m
567.5 333.889 l
S
Q
BT
/F6 1 Tf
6 0 0 6 27.5 312.3892 Tm
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 312.3892 Tm
0 0 0 1 k
(Beta)Tj
/F1 1 Tf
8 0 0 8 53.5565 312.3892 Tm
( Measures the sensitivity of the funds returns to the comparative benchmark index return \(annualised\). The nearer to 1.00, t)Tj
49.986 0 TD
(he closer the historical uctuations )Tj
-51.993 -1.3125 TD
(in the value of the fund are to the benchmark. If above 1.00, then fund uctuations have been greater than the benchmark.)Tj
/F6 1 Tf
6 0 0 6 27.5 289.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 289.8892 Tm
0 0 0 1 k
(Duration of the Portfolio)Tj
/F1 1 Tf
8 0 0 8 120.1455 289.8892 Tm
( Measure of the sensitivity of the price of a bond or portfolio to a change in interest rates paid. The larger the number \(po)Tj
48.822 0 TD
(sitive or )Tj
-59.1527 -1.3125 TD
(negative\), the greater the change in price for given changes in interest rates. When duration is positive a rise in interest ra)Tj
48.765 0 TD
(tes results in a fall in price while for a )Tj
-48.765 -1.3125 TD
(negative duration a rise in interest rates results in a rise in price.)Tj
/F6 1 Tf
6 0 0 6 27.5 256.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 256.8892 Tm
0 0 0 1 k
(Excess returns)Tj
/F1 1 Tf
8 0 0 8 88.483 256.8892 Tm
( The return of the fund in excess of the benchmark/index return \(annualised\).)Tj
/F6 1 Tf
6 0 0 6 27.5 244.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 244.8892 Tm
0 0 0 1 k
(Historical tracking error)Tj
/F1 1 Tf
8 0 0 8 121.072 244.8892 Tm
( - Measure of the actual deviation of the funds returns from the comparative benchmark index returns \(annualised\). A higher nu)Tj
50.988 0 TD
(mber )Tj
-61.4345 -1.3125 TD
(means that the fund is taking greater risk against the benchmark.)Tj
/F6 1 Tf
6 0 0 6 27.5 222.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 222.3892 Tm
0 0 0 1 k
(Historical Volatility of Portfolio)Tj
/F1 1 Tf
8 0 0 8 144.7105 222.3892 Tm
( Illustrates the dispersion of the funds realized monthly returns around the average monthly return, indicating how volatile)Tj
49.432 0 TD
( the )Tj
-62.8333 -1.3125 TD
(funds return is over time. The higher the number the more volatile the funds returns.)Tj
/F6 1 Tf
6 0 0 6 27.5 199.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 199.8892 Tm
0 0 0 1 k
(Interest Rate Duration)Tj
/F1 1 Tf
8 0 0 8 113.0565 199.8892 Tm
( This is a modied measure of Total Average Duration that has been estimated by GSAM. This modied measure seeks to take acco)Tj
53.153 0 TD
(unt of )Tj
-62.5976 -1.3125 TD
(the different behaviours of different bond markets around the world by re-expressing all duration exposures to a common US mark)Tj
51.931 0 TD
(et standard. The goal is to improve )Tj
-51.931 -1.3125 TD
(the estimate of the portfolio's sensitivity to changes in interest rates. This estimate is guided by historical market observat)Tj
48.514 0 TD
(ions amongst markets which are )Tj
-48.514 -1.3125 TD
(themselves subject to change over time and may not necessarily be reected by the actual outcome.)Tj
/F6 1 Tf
6 0 0 6 27.5 156.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 156.3892 Tm
0 0 0 1 k
(Net Asset Value)Tj
/F1 1 Tf
8 0 0 8 92.75 156.3892 Tm
( Represents the net assets of the fund \(ex-dividend\) divided by the total number of shares issued by the fund.)Tj
/F6 1 Tf
6 0 0 6 27.5 144.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 144.3892 Tm
0 0 0 1 k
(Ongoing Charges)Tj
/F1 1 Tf
8 0 0 8 96.524 144.3892 Tm
( The ongoing charges gure is based on the funds expenses during the previous 12 months, on a rolling basis. It excludes tra)Tj
50.54 0 TD
(nsaction costs and )Tj
-57.918 -1.3125 TD
(performance fees incurred by the fund.)Tj
/F6 1 Tf
6 0 0 6 27.5 121.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 121.8892 Tm
0 0 0 1 k
(Other Expenses)Tj
/F1 1 Tf
8 0 0 8 91.322 121.8892 Tm
( Fees deduced from the Funds assets incurred as part of the Funds operations, including, where applicable, costs incurred b)Tj
50.652 0 TD
(y the Fund when )Tj
-57.3797 -1.3125 TD
(investing in other funds.)Tj
/F6 1 Tf
6 0 0 6 27.5 99.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 99.3892 Tm
0 0 0 1 k
(R)Tj
/F2 1 Tf
4 0 0 4 42.226 102.8892 Tm
(2)Tj
/F1 1 Tf
8 0 0 8 44.002 99.3892 Tm
( Measure that represents the percentage of a portfolio movement linked to movements in the benchmark index return \(annualised)Tj
52.433 0 TD
(\). The nearer to [1.00], the more )Tj
-53.2457 -1.3125 TD
(a fund is tracking the risk of the benchmark, and the less risk that the fund is taking against the benchmark.)Tj
/F6 1 Tf
6 0 0 6 27.5 76.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 76.8892 Tm
0 0 0 1 k
(Swing pricing)Tj
/F1 1 Tf
8 0 0 8 86.1455 76.8892 Tm
( This describes the total trading spreads and any other duties and charges \(e.g. Broker Commissions, Stamp Duty and Taxes\) th)Tj
51.431 0 TD
(at may be paid on )Tj
-57.5117 -1.3125 TD
(entry and exit to the Fund and which seek to protect long-term investors already in the Fund. The price shown is measured at la)Tj
50.708 0 TD
(st quarter end, and is only indicative of )Tj
-50.708 -1.3125 TD
(the swing that may apply to a new subscription/redemption.)Tj
/F6 1 Tf
6 0 0 6 27.5 43.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 43.8892 Tm
0 0 0 1 k
(Yield to Maturity)Tj
/F1 1 Tf
8 0 0 8 95.113 43.8892 Tm
( The rate of return anticipated on a bond if it is held until the maturity date shown without the deduction of any expenses.)Tj
/F6 1 Tf
6 0 0 6 27.5 31.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 31.8892 Tm
0 0 0 1 k
(Yield to Worst)Tj
/F1 1 Tf
8 0 0 8 86.613 31.8892 Tm
( The lowest potential yield that can be received on a bond without the issuer actually defaulting.)Tj
0.53 0.32 0.11 0 k
16.5829 -2.1737 TD
(3)Tj
ET
endstream
endobj
17 0 obj
<>/ProcSet[/PDF/Text]/Font<>>>
endobj
16 0 obj
<>stream
BT
/F1 1 Tf
19 0 0 19 27.5 799.8893 Tm
0.53 0.32 0.11 0 k
/GS1 gs
-0.0105 Tc
0 Tw
(Additional Notes)Tj
8 0 0 8 27.5 761.8892 Tm
0 0 0 1 k
-0.025 Tc
(This material is a nancial promotion and has been issued by Goldman Sachs International, authorised by the Prudential Regulati)Tj
48.2029 0 TD
(on Authority and regulated by the Financial )Tj
-48.2029 -1.3125 TD
(Conduct Authority and the Prudential Regulation Authority.)Tj
0 -1.375 TD
(Furthermore, this information should not be construed as nancial research. It was not prepared in compliance with applicable p)Tj
48.146 0 TD
(rovisions of law designed to promote the )Tj
-48.146 -1.3125 TD
(independence of nancial analysis and is not subject to a prohibition on trading following the distribution of nancial researc)Tj
46.592 0 TD
(h.)Tj
-46.592 -1.375 TD
(This information is intended for viewing only by the intended recipient and may not be reproduced or distributed to any person )Tj
47.257 0 TD
(in whole or in part without the prior written consent of )Tj
-47.257 -1.3125 TD
(GSI. Goldman Sachs International accepts no liability for the misuse or inappropriate distribution of this material.)Tj
/F5 1 Tf
0 -1.375 TD
(Offering Documents)Tj
/F1 1 Tf
7.605 0 TD
(: This material is provided at your request for informational purposes only and does not constitute a solicitation in any juris)Tj
45.4769 0 TD
(diction in which such a solicitation is )Tj
-53.0819 -1.3125 TD
(unlawful or to any person to whom it is unlawful. It only contains selected information with regards to the fund and does not c)Tj
46.814 0 TD
(onstitute an offer to buy shares in the fund. Prior to an )Tj
-46.814 -1.3125 TD
(investment, prospective investors should carefully read the latest Key Investor Information Document \(KIID\) as well as the offe)Tj
47.259 0 TD
(ring documentation, including but not limited to the )Tj
-47.259 -1.3125 TD
(funds prospectus which contains inter alia a comprehensive disclosure of applicable risks. The relevant articles of associatio)Tj
47.032 0 TD
(n, prospectus, supplement, KIID and latest annual/)Tj
-47.032 -1.3125 TD
(semi-annual report are available free of charge from the funds paying and information agent and/or from your nancial adviser )Tj
47.757 0 TD
(and at www.gsam.com/kiids.)Tj
/F5 1 Tf
-47.757 -1.375 TD
(Distribution of Shares)Tj
/F1 1 Tf
8.283 0 TD
(: Shares of the fund may not be registered for public distribution in a number of jurisdictions \(including but not limited to a)Tj
45.0919 0 TD
(ny Latin American, African or Asian )Tj
-53.3749 -1.3125 TD
(countries\). Therefore, the shares of the fund must not be marketed or offered in or to residents of any such jurisdictions unle)Tj
46.313 0 TD
(ss such marketing or offering is made in compliance )Tj
-46.313 -1.3125 TD
(with applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules)Tj
47.646 0 TD
( and regulations.)Tj
/F5 1 Tf
-47.646 -1.375 TD
(Investment Advice and Potential Loss)Tj
/F1 1 Tf
14.265 0 TD
(: Financial advisers generally suggest a diversied portfolio of investments. The fund described herein does not represent a di)Tj
46.9209 0 TD
(versied )Tj
-61.1859 -1.3125 TD
(investment by itself. This material must not be construed as investment or tax advice. Prospective investors should consult the)Tj
47.144 0 TD
(ir nancial and tax adviser before investing in order to )Tj
-47.144 -1.3125 TD
(determine whether an investment would be suitable for them.)Tj
/F5 1 Tf
0 -1.375 TD
(An investor should only invest if he/she has the necessary nancial resources to bear a complete loss of this investment.)Tj
T*
(Swing Pricing)Tj
/F1 1 Tf
5.454 0 TD
(: Please note that the fund operates a swing pricing policy. Investors should be aware that from time to time this may result i)Tj
46.2569 0 TD
(n the fund performing differently )Tj
-51.7109 -1.3125 TD
(compared to the reference benchmark based solely on the effect of swing pricing rather than price developments of underlying in)Tj
48.536 0 TD
(struments.)Tj
-48.536 -1.375 TD
(Fees are generally billed and payable at the end of each quarter and are based on average month-end market values during the qu)Tj
48.868 0 TD
(arter.)Tj
-48.868 -1.375 TD
(Additional information is provided in our Form ADV Part-2 which is available at http://www.adviserinfo.sec.gov/IAPD/Content/Sea)Tj
48.315 0 TD
(rch/iapd_Search.aspx.)Tj
/F5 1 Tf
-48.315 -1.375 TD
(The relevant articles of association, prospectus, supplement and key investor information document \(KIID\) and latest annual/sem)Tj
48.931 0 TD
(i-annual report \(as applicable\) are available free )Tj
-48.931 -1.3125 TD
(of charge from the funds paying and information agents as listed below:)Tj
0 -1.375 TD
(Austria)Tj
/F1 1 Tf
2.769 0 TD
(: Raiffeisen Bank International AG, Am Stadtpark 9, A-1030 Wien, Austria.)Tj
/F5 1 Tf
-2.769 -1.375 TD
(Belgium)Tj
/F1 1 Tf
3.214 0 TD
(: RBC Investor Services, Place Rogier II, 1210 Brussels, Belgium.)Tj
/F5 1 Tf
-3.214 -1.375 TD
(Denmark)Tj
/F1 1 Tf
3.491 0 TD
(: Stockrate Asset Management, Mollevej 9 E2, DK-2990 Niva, Denmark.)Tj
/F5 1 Tf
-3.491 -1.375 TD
(France)Tj
/F1 1 Tf
2.627 0 TD
(: RBC Investor Services Bank France, 105, rue Raumur, 75002 Paris, France.)Tj
/F5 1 Tf
-2.627 -1.375 TD
(Germany)Tj
/F1 1 Tf
3.435 0 TD
(: State Street Bank GmbH, Brienner Strasse 59, 80333 Munich, Germany.)Tj
/F5 1 Tf
-3.435 -1.375 TD
(Greece)Tj
/F1 1 Tf
2.794 0 TD
(: Piraeus Bank S.A., 4 Amerikis Street, 10564 Athens, Greece.)Tj
/F5 1 Tf
-2.794 -1.375 TD
(Ireland)Tj
/F1 1 Tf
2.714 0 TD
(: RBC Investor Services Ireland Limited, George's Quay House, 43 Townsend Street, Dublin 2, Ireland.)Tj
/F5 1 Tf
-2.714 -1.375 TD
(Italy)Tj
/F1 1 Tf
1.653 0 TD
(: Socit Gnrale Securities Services, Maciachini Center MAC 2, Via Benigno Crespi, 19/A, 20159 Milan, Italy; AllFunds Bank )Tj
47.643 0 TD
(S.A. Filiale di Milano, Via Santa Margherita 7, )Tj
-49.296 -1.3125 TD
(20121 Milan, Italy; RBC Investor Services Bank Milan- Milan Branch, Cia Vittor Pisani, 26, 20154 Milan, Italy; State Street Ban)Tj
46.365 0 TD
(k S.pA., Via Col Moschin, 16 , 20136 Milan, Italy; BNP )Tj
-46.365 -1.3125 TD
(Paribas Securities Services Succursale di Milano, Via Ansperto 5, 20121 Milan, Italy; Banca Sella, Piazza Gaudenzio Sella 1, 1)Tj
47.2 0 TD
(3900 Biella Bl., Italy.)Tj
/F5 1 Tf
-47.2 -1.375 TD
(Luxembourg)Tj
/F1 1 Tf
4.749 0 TD
(: State Street Bank Luxembourg S.A., 49, avenue J.F. Kennedy, L-1855 Luxembourg.)Tj
/F5 1 Tf
-4.749 -1.375 TD
(Sweden)Tj
/F1 1 Tf
3.184 0 TD
(: Skandinaviska Enskilda Banken AB, through its entity Global Transaction Services, SEB Merchant Banking, Sergels Torg 2, ST MH)Tj
49.1439 0 TD
(1, SE-106 40 Stockholm, Sweden.)Tj
/F5 1 Tf
-52.3279 -1.375 TD
(Switzerland)Tj
/F1 1 Tf
4.615 0 TD
(: Swiss Representative of the fund is First Independent Fund Services Ltd, Klausstrasse 33, 8008 Zurich. Paying Agent of the fu)Tj
46.8669 0 TD
(nd in Switzerland is Goldman Sachs Bank )Tj
-51.4819 -1.3125 TD
(AG, Claridenstrasse 25, 8022 Zurich. The Key Investor Information Document \(KIID\) as well as the annual and semi-annual reports)Tj
48.367 0 TD
( of the fund may be obtained free of charge at the )Tj
-48.367 -1.3125 TD
(Swiss Representative or Goldman Sachs Bank AG in Zurich.)Tj
0 -1.375 TD
(Please note in addition for:)Tj
/F5 1 Tf
T*
(Australia)Tj
/F1 1 Tf
3.497 0 TD
(: This material is distributed in Australia and New Zealand by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 )Tj
48.9199 0 TD
(681, AFSL 228948 \(GSAMA\) and is )Tj
-52.4169 -1.3125 TD
(intended for viewing only by wholesale clients in Australia for the purposes of section 761G of the Corporations Act 2001 \(Cth\))Tj
46.756 0 TD
( and to clients who either fall within any or all of the )Tj
-46.756 -1.3125 TD
(categories of investors set out in section 3\(2\) or sub-section 5\(2CC\) of the Securities Act 1978 \(NZ\).)Tj
/F5 1 Tf
0 -1.375 TD
(Hong Kong)Tj
/F1 1 Tf
4.164 0 TD
(: This material has been issued or approved for use in or from Hong Kong by Goldman Sachs \(Asia\) L.L.C.)Tj
/F5 1 Tf
-4.164 -1.375 TD
(Netherlands)Tj
/F1 1 Tf
4.725 0 TD
(: The fund is included in the register kept by the Stichting Autoriteit Financile Markten.)Tj
/F5 1 Tf
-4.725 -1.375 TD
(Singapore)Tj
/F1 1 Tf
3.942 0 TD
(: This material has been issued or approved for use in or from Singapore by Goldman Sachs Asset Management \(Singapore\) Pte. Ltd)Tj
49.4239 0 TD
(. \(Company Number: 201329851H\).)Tj
/F5 1 Tf
-53.3659 -1.375 TD
(Spain)Tj
/F1 1 Tf
2.209 0 TD
(: The fund is a foreign UCITS registered with the CNMV registry with number 141 \(SICAV\), 913 \(SICAV II\), 305 \(PLC\). A full desc)Tj
46.8169 0 TD
(ription and KIID for the fund and other mandatory )Tj
-49.0259 -1.3125 TD
(documentation is available free of charge from any of the authorised distributors of the fund listed in the Comisin Nacional d)Tj
46.704 0 TD
(el Mercado de Valores \(CNMV\) webpage at )Tj
-46.704 -1.3125 TD
(www.cnmv.es.)Tj
0 -25.1875 TD
( 2018 Goldman Sachs. All rights reserved.)Tj
0 -1.375 TD
(Registered and Principal Ofces:)Tj
/F5 1 Tf
12.309 0 TD
( Luxembourg domiciled Funds Registered Ofce:)Tj
/F1 1 Tf
18.428 0 TD
( c/o State Street Bank Luxembourg S.A., 49, Avenue J-F Kennedy L-1855, Luxembourg)Tj
0.53 0.32 0.11 0 k
-6.765 -2.1737 TD
0 Tc
(4)Tj
ET
endstream
endobj
20 0 obj
<>
endobj
21 0 obj
<>
endobj
22 0 obj
<>
endobj
23 0 obj
<>
endobj
24 0 obj
<>
endobj
25 0 obj
<>
endobj
18 0 obj
<>
endobj
19 0 obj
<>stream
Hb``qtqre``((*)rrR` `\\ yy5F}Yd<^H bd K
@HR6bg9
L<% ɚ
F
)I
%
yzP3A@< $8(D9Q!(?-3(0>ÆQ^>~B 1 q ) ))I)) E9 PVUPWSWSBm- = 0040001S3s3sKK++k+k[[;;{'G''7777///_/?@АА0`KJHJHIJIIKIKH)+,(.(.*-)/)/,ikjhnjnjmhko7a¤ S&M2mi3f̚1w֜9-dEKX|kV[n͆u6lڰeӶ-;ض{]wp=rةcgN;u̅s]p+7ݺqƝ[