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260.608 623.764 l
251.442 640.864 l
241.971 634.564 l
232.5 631.639 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 Emerging )Tj
0 -1.25 TD
(Markets CORE Equity Portfolio )Tj
T*
(- Class IO Shares \(Close\))Tj
/F2 1 Tf
4 0 0 4 311.596 509.9892 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
(MSCI EM Unhedged USD Net )Tj
T*
(Divs)Tj
/F2 1 Tf
4 0 0 4 363.468 519.9892 Tm
-0.05 Tc
(\(5\))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 Emerging )Tj
T*
(Markets Equity)Tj
/F2 1 Tf
4 0 0 4 506.684 519.9892 Tm
-0.05 Tc
(\(2\))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 8 443.052 410.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Cumulative)-5889(Annualised)]TJ
/F2 1 Tf
-6.669 -1.625 TD
[(Since Launch)-1709(1 Mth)-1345(3 Mths)-3200(YTD)-3656(1 Y)]TJ
ET
q
0.2 i
527.5 393.389 35 11 re
W n
BT
8 0 0 8 560.476 397.8893 Tm
0 Tc
(r)Tj
ET
Q
q
212.5 380.389 173 13 re
W n
0.132 0.08 0.028 0 k
212.5 393.389 173 -13 re
f
Q
BT
8 0 0 8 217.5 384.8892 Tm
(Class IO Shares \(Close\))Tj
4 0 0 4 279.54 388.3892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
385.5 380.389 45 13 re
W n
0.132 0.08 0.028 0 k
385.5 393.389 45 -13 re
f
Q
BT
8 0 0 8 410.516 384.8892 Tm
-0.025 Tc
(13.61)Tj
ET
q
430.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
430.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 443.868 384.8892 Tm
(2.90)Tj
ET
q
460.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
460.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 473.868 384.8892 Tm
(6.72)Tj
ET
q
490.5 380.389 37 13 re
W n
0.132 0.08 0.028 0 k
490.5 393.389 37 -13 re
f
Q
BT
8 0 0 8 507.516 384.8892 Tm
(17.31)Tj
ET
q
527.5 380.389 40 13 re
W n
0.132 0.08 0.028 0 k
527.5 393.389 40 -13 re
f
Q
BT
8 0 0 8 547.516 384.8892 Tm
(30.53)Tj
-41.252 -1.625 TD
(MSCI EM Unhedged USD Net Divs)Tj
4 0 0 4 311.676 375.3892 Tm
-0.05 Tc
(\(5\))Tj
8 0 0 8 413.868 371.8892 Tm
-0.025 Tc
[(2.22)-2296(2.96)-2296(7.87)-2752(17.25)-3127(27.41)]TJ
ET
0.132 0.08 0.028 0 k
212.5 367.389 173 -13 re
f
BT
8 0 0 8 217.5 358.8892 Tm
0 0 0 1 k
(Morningstar Global Emerging Markets Equity)Tj
4 0 0 4 339.268 362.3892 Tm
-0.05 Tc
(\(2\))Tj
ET
q
385.5 354.389 45 13 re
W n
0.132 0.08 0.028 0 k
385.5 367.389 45 -13 re
f
Q
q
430.5 354.389 30 13 re
W n
0.132 0.08 0.028 0 k
430.5 367.389 30 -13 re
f
Q
BT
8 0 0 8 443.868 358.8892 Tm
-0.025 Tc
(2.90)Tj
ET
q
460.5 354.389 30 13 re
W n
0.132 0.08 0.028 0 k
460.5 367.389 30 -13 re
f
Q
BT
8 0 0 8 473.868 358.8892 Tm
(8.02)Tj
ET
q
490.5 354.389 37 13 re
W n
0.132 0.08 0.028 0 k
490.5 367.389 37 -13 re
f
Q
BT
8 0 0 8 507.516 358.8892 Tm
(17.16)Tj
ET
q
527.5 354.389 40 13 re
W n
0.132 0.08 0.028 0 k
527.5 367.389 40 -13 re
f
Q
BT
8 0 0 8 547.516 358.8892 Tm
(24.59)Tj
-41.252 -1.625 TD
(Quartile Position in Sector)Tj
4 0 0 4 287.62 349.3892 Tm
-0.05 Tc
(\(2\))Tj
8 0 0 8 452.148 345.8892 Tm
3.306 Tc
[(23)-875(2)-1250(1)]TJ
ET
q
212.5 318.889 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 335.389 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 324.3892 Tm
0 0 0 0 k
0 Tc
[(Calendar )180(Y)95(ear P)30(erformance \(%\))]TJ
/F2 1 Tf
8 0 0 8 449.092 310.3892 Tm
0 0 0 1 k
-0.025 Tc
[(2012)-1449(2013)-1449(201)]TJ
ET
q
0.2 i
492.5 305.889 20 11 re
W n
BT
8 0 0 8 509.148 310.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 524.092 310.3892 Tm
[(2015)-1449(2016)]TJ
ET
0.132 0.08 0.028 0 k
212.5 305.889 230 -13 re
f
BT
8 0 0 8 217.5 297.3892 Tm
0 0 0 1 k
(Class IO Shares \(Close\))Tj
ET
q
442.5 292.889 25 13 re
W n
0.132 0.08 0.028 0 k
442.5 305.889 25 -13 re
f
Q
BT
8 0 0 8 460.476 297.3892 Tm
0 Tc
(-)Tj
ET
0.132 0.08 0.028 0 k
467.5 305.889 25 -13 re
f
BT
8 0 0 8 485.476 297.3892 Tm
0 0 0 1 k
(-)Tj
ET
q
492.5 292.889 25 13 re
W n
0.132 0.08 0.028 0 k
492.5 305.889 25 -13 re
f
Q
BT
8 0 0 8 510.476 297.3892 Tm
(-)Tj
ET
0.132 0.08 0.028 0 k
517.5 305.889 25 -13 re
f
BT
8 0 0 8 527.196 297.3892 Tm
0 0 0 1 k
-0.025 Tc
(-9.)Tj
ET
q
0.2 i
517.5 292.889 20 11 re
W n
BT
8 0 0 8 534.148 297.3892 Tm
0 Tc
(4)Tj
ET
Q
q
542.5 292.889 25 13 re
W n
0.132 0.08 0.028 0 k
542.5 305.889 25 -13 re
f
Q
BT
8 0 0 8 550.868 297.3892 Tm
(13.3)Tj
-41.671 -1.625 TD
[(MSCI EM Unhedged USD Net Divs)-18600(-)-2872(-)-2872(-)-1418(-14.9)-1671(11.2)]TJ
/F5 1 Tf
0 -19.3612 TD
(Please see Additional Notes. All performance and holdings data as at 31-May-17.)Tj
/F2 1 Tf
0 -1.3125 TD
0 Tc
[(* W)18(e)0( identify two broad categories of funds to help investors think about how to construct their overall investment )]TJ
0 -1.25 TD
[(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.)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
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(Europe, Middle East, Africa)Tj
ET
q
212.5 581.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 597.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 586.8893 Tm
0 0 0 0 k
0 Tc
[(T)115(op 1)55(0)0( Holdings)]TJ
/F5 1 Tf
6.5 0 0 6.5 292.03 589.5892 Tm
(\(6\))Tj
/F2 1 Tf
8 0 0 8 217.5 572.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Security)-15128(%)-2625(Country)-6148(Activity)]TJ
ET
q
212.5 553.389 119 14 re
W n
0.132 0.08 0.028 0 k
212.5 567.389 119 -14 re
f
Q
BT
8 0 0 8 217.5 558.8892 Tm
(Samsung Electronics Co Ltd)Tj
ET
0.132 0.08 0.028 0 k
331.5 567.389 40 -14 re
f
BT
8 0 0 8 358.22 558.8892 Tm
0 0 0 1 k
(5.6)Tj
ET
0.132 0.08 0.028 0 k
371.5 567.389 16 -14 re
f
q
387.5 553.389 70 14 re
W n
387.5 567.389 70 -14 re
f
Q
BT
8 0 0 8 387.5 558.8892 Tm
0 0 0 1 k
(Korea)Tj
ET
q
457.5 553.389 110 14 re
W n
0.132 0.08 0.028 0 k
457.5 567.389 110 -14 re
f
Q
BT
8 0 0 8 457.5 558.8892 Tm
(Information Technology)Tj
-30 -1.75 TD
(Taiwan Semiconductor Manufacturing Co )Tj
0 -1.3125 TD
(Ltd)Tj
17.59 1.3125 TD
[(5.2)-2625(Taiwan)-6235(Information Technology)]TJ
ET
q
212.5 514.889 119 14 re
W n
0.132 0.08 0.028 0 k
212.5 528.889 119 -14 re
f
Q
BT
8 0 0 8 217.5 520.3892 Tm
(Tencent Holdings Ltd)Tj
ET
q
331.5 514.889 40 14 re
W n
0.132 0.08 0.028 0 k
331.5 528.889 40 -14 re
f
Q
BT
8 0 0 8 358.22 520.3892 Tm
(4.0)Tj
ET
q
371.5 514.889 16 14 re
W n
0.132 0.08 0.028 0 k
371.5 528.889 16 -14 re
f
Q
q
387.5 514.889 70 14 re
W n
0.132 0.08 0.028 0 k
387.5 528.889 70 -14 re
f
Q
BT
8 0 0 8 387.5 520.3892 Tm
(China)Tj
ET
q
457.5 514.889 110 14 re
W n
0.132 0.08 0.028 0 k
457.5 528.889 110 -14 re
f
Q
BT
8 0 0 8 457.5 520.3892 Tm
(Information Technology)Tj
-30 -1.75 TD
[(China Construction Bank Corp)-7573(2.)]TJ
ET
q
0.2 i
331.5 501.889 35 11 re
W n
BT
8 0 0 8 363.148 506.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 387.5 506.3892 Tm
[(China)-6821(Financials)]TJ
ET
q
212.5 486.889 119 14 re
W n
0.132 0.08 0.028 0 k
212.5 500.889 119 -14 re
f
Q
BT
8 0 0 8 217.5 492.3892 Tm
(China Mobile Ltd)Tj
ET
q
331.5 486.889 40 14 re
W n
0.132 0.08 0.028 0 k
331.5 500.889 40 -14 re
f
Q
BT
8 0 0 8 358.22 492.3892 Tm
(2.3)Tj
ET
q
371.5 486.889 16 14 re
W n
0.132 0.08 0.028 0 k
371.5 500.889 16 -14 re
f
Q
q
387.5 486.889 70 14 re
W n
0.132 0.08 0.028 0 k
387.5 500.889 70 -14 re
f
Q
BT
8 0 0 8 387.5 492.3892 Tm
(China)Tj
ET
q
457.5 486.889 110 14 re
W n
0.132 0.08 0.028 0 k
457.5 500.889 110 -14 re
f
Q
BT
8 0 0 8 457.5 492.3892 Tm
(Telecommunication Services)Tj
-30 -1.75 TD
[(Sberbank of Russia PJSC)-9114(2.1)-2625(Russia)-6512(Financials)]TJ
ET
q
212.5 458.889 119 14 re
W n
0.132 0.08 0.028 0 k
212.5 472.889 119 -14 re
f
Q
BT
8 0 0 8 217.5 464.3892 Tm
(NetEase Inc)Tj
ET
q
331.5 458.889 40 14 re
W n
0.132 0.08 0.028 0 k
331.5 472.889 40 -14 re
f
Q
BT
8 0 0 8 358.22 464.3892 Tm
(1.9)Tj
ET
q
371.5 458.889 16 14 re
W n
0.132 0.08 0.028 0 k
371.5 472.889 16 -14 re
f
Q
q
387.5 458.889 70 14 re
W n
0.132 0.08 0.028 0 k
387.5 472.889 70 -14 re
f
Q
BT
8 0 0 8 387.5 464.3892 Tm
(China)Tj
ET
q
457.5 458.889 110 14 re
W n
0.132 0.08 0.028 0 k
457.5 472.889 110 -14 re
f
Q
BT
8 0 0 8 457.5 464.3892 Tm
(Information Technology)Tj
-30 -1.75 TD
[(America Movil SAB de CV)-8778(1.8)-2625(Mexico)-6234(Telecommunication Services)]TJ
ET
q
212.5 430.889 119 14 re
W n
0.132 0.08 0.028 0 k
212.5 444.889 119 -14 re
f
Q
BT
8 0 0 8 217.5 436.3892 Tm
(ITC Ltd)Tj
ET
q
331.5 430.889 40 14 re
W n
0.132 0.08 0.028 0 k
331.5 444.889 40 -14 re
f
Q
BT
8 0 0 8 358.22 436.3892 Tm
(1.8)Tj
ET
q
371.5 430.889 16 14 re
W n
0.132 0.08 0.028 0 k
371.5 444.889 16 -14 re
f
Q
q
387.5 430.889 70 14 re
W n
0.132 0.08 0.028 0 k
387.5 444.889 70 -14 re
f
Q
BT
8 0 0 8 387.5 436.3892 Tm
(India)Tj
ET
q
457.5 430.889 110 14 re
W n
0.132 0.08 0.028 0 k
457.5 444.889 110 -14 re
f
Q
BT
8 0 0 8 457.5 436.3892 Tm
(Consumer Staples)Tj
-30 -1.75 TD
[(Shinhan Financial Group Co Ltd)-7069(1.7)-2625(Korea)-6765(Financials)]TJ
/F5 1 Tf
0 -31.6112 TD
(Please see Additional Notes. All performance and holdings data as at 31-May-17. 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
217.5 145 350 30.5 re
W n
BT
8 0 0 8 217.5 149.5 Tm
0 Tc
()Tj
ET
Q
BT
8 0 0 8 221.3 149.5 Tm
(uctuate and can go down as well as up. A loss of capital may occur.)Tj
/F2 1 Tf
4 0 0 4 217.5 142 Tm
0 Tc
(\(1\))Tj
8 0 0 8 221.052 139 Tm
(Effective May 31, 2016, the portfolio name changed from Goldman Sachs Growth & Emerging Markets CORE Equity )Tj
-0.444 -1.25 TD
(Portfolio to Goldman Sachs Emerging Markets CORE Equity Portfolio.)Tj
4 0 0 4 424.26 132 Tm
( \(2\))Tj
8 0 0 8 428.7 129 Tm
(The Morningstar sector average gures are )Tj
-26.4 -1.25 TD
(calculated using all open funds available in the universe at the indicated time period. The number of funds in a )Tj
T*
(Morningstar sector varies over time as new funds are launched and funds close. Source: Morningstar 2017 )Tj
T*
[(Morningstar)70(, Inc. All Rights Reserved.)]TJ
4 0 0 4 328.004 102 Tm
( \(3\))Tj
8 0 0 8 332.444 99 Tm
[(The ongoing charges gure is based on expenses during the previous year)70(. See )]TJ
-14.368 -1.25 TD
(details in the Key Investor Information Document.)Tj
4 0 0 4 362.324 92 Tm
( \(4\))Tj
8 0 0 8 366.764 89 Tm
(Fund returns are shown net of applicable ongoing fees within the )Tj
-18.658 -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 52 Tm
( \(5\))Tj
8 0 0 8 316.108 49 Tm
(The MSCI EME Index \(net\), quoted at month-end with income reinvested and, in )Tj
-12.326 -1.25 TD
(contrast to the Portfolio, shown without the deduction of any expenses.)Tj
4 0 0 4 425.836 42 Tm
( \(6\))Tj
8 0 0 8 430.276 39 Tm
(Portfolio holdings may not represent current, )Tj
-26.597 -1.25 TD
(future investments or all of the 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
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50.878 0 TD
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50.267 0 TD
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/F1 1 Tf
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49.044 0 TD
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51.765 0 TD
(nvestments selected )Tj
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50.322 0 TD
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/F5 1 Tf
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/F1 1 Tf
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50.318 0 TD
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/F1 1 Tf
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( 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
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(in the value of the fund are to the benchmark. If above 1.00, then fund uctuations have been greater than the benchmark.)Tj
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( Total amount paid to executing brokers in relation to dealing in buying and selling of investments in the Fund during year e)Tj
49.487 0 TD
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( The return of the fund in excess of the benchmark/index return \(annualised\).)Tj
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51.155 0 TD
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49.432 0 TD
( the )Tj
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( Represents the net assets of the fund \(ex-dividend\) divided by the total number of shares issued by the fund.)Tj
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50.54 0 TD
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/F1 1 Tf
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( Fees deduced from the Funds assets incurred as part of the Funds operations, including, where applicable, costs incurred b)Tj
50.652 0 TD
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(Other Costs)Tj
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52.262 0 TD
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(2)Tj
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52.433 0 TD
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(Swing pricing)Tj
/F1 1 Tf
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( 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
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50.708 0 TD
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/F5 1 Tf
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0 0 0 1 k
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/F1 1 Tf
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( Total trading costs of transactions incurred by the fund, including Commissions during year ending 30 November 2016. Does no)Tj
51.429 0 TD
(t include trading )Tj
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51.375 0 TD
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-57.4535 -1.3125 TD
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-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
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48.146 0 TD
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-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
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(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
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(An investor should only invest if he/she has the necessary nancial resources to bear a complete loss of this investment.)Tj
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(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
( 2017 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
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