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387.898 625.249 l
386.179 625.159 l
384.4 625.099 l
382.681 625.039 l
380.905 624.949 l
379.129 624.859 l
377.41 624.799 l
375.633 624.709 l
373.917 624.619 l
372.141 624.559 l
370.536 624.469 l
366.984 624.289 l
365.265 624.199 l
363.486 624.109 l
361.767 623.989 l
359.991 623.869 l
358.215 623.749 l
356.496 623.599 l
354.719 623.479 l
353 623.329 l
351.226 623.209 l
349.565 623.059 l
347.788 622.879 l
346.012 622.729 l
344.293 622.609 l
342.515 622.489 l
340.796 622.369 l
339.019 622.279 l
337.243 622.219 l
335.524 622.159 l
333.748 622.069 l
332.029 621.979 l
330.255 621.889 l
328.651 621.829 l
326.874 621.739 l
325.098 621.649 l
323.377 621.559 l
321.6 621.469 l
319.881 621.409 l
318.105 621.289 l
316.329 621.139 l
314.61 620.989 l
312.834 620.869 l
311.115 620.779 l
309.341 620.689 l
307.736 620.629 l
305.96 620.569 l
304.184 620.479 l
302.465 620.419 l
300.686 620.329 l
298.967 620.239 l
297.191 620.119 l
295.415 619.969 l
293.696 619.789 l
291.919 619.549 l
290.2 619.249 l
288.426 618.889 l
286.822 618.559 l
285.046 618.199 l
283.27 617.689 l
281.551 617.029 l
279.772 615.859 l
278.053 614.989 l
276.277 614.179 l
274.5 613.399 l
272.781 612.649 l
271.005 611.869 l
269.286 611.089 l
267.512 610.309 l
265.851 609.499 l
264.074 608.389 l
262.298 607.009 l
260.579 605.659 l
258.8 604.249 l
257.081 602.779 l
255.305 601.279 l
253.529 599.809 l
251.81 598.399 l
250.034 596.929 l
248.315 595.549 l
246.541 594.109 l
244.936 592.819 l
243.16 591.379 l
241.384 589.969 l
239.665 588.589 l
237.886 587.179 l
236.167 585.829 l
234.391 584.389 l
232.615 582.979 l
232.5 582.889 l
S
0 0.97 1 0.5 K
[]0 d
537.965 659.359 m
536.188 659.149 l
534.412 657.799 l
532.693 654.859 l
530.914 654.619 l
529.195 655.039 l
527.419 652.729 l
525.643 648.799 l
523.924 646.789 l
522.148 642.349 l
520.429 634.969 l
518.655 643.519 l
516.993 643.459 l
515.217 642.679 l
513.441 641.479 l
511.722 639.979 l
509.943 637.849 l
508.224 636.739 l
506.448 639.259 l
504.671 638.239 l
502.952 636.559 l
501.176 635.959 l
499.46 634.519 l
497.683 633.559 l
496.079 632.569 l
494.303 628.279 l
492.526 628.399 l
490.807 627.919 l
489.029 627.919 l
487.31 626.539 l
485.533 629.089 l
483.757 627.229 l
482.038 628.309 l
480.262 628.609 l
478.543 628.039 l
476.769 628.669 l
475.165 629.599 l
473.388 627.409 l
471.612 626.269 l
469.893 626.419 l
468.114 626.689 l
466.396 626.389 l
464.619 625.339 l
462.843 625.819 l
461.124 625.339 l
459.348 624.049 l
457.629 625.819 l
455.855 625.159 l
454.25 624.379 l
452.474 624.049 l
450.698 622.129 l
448.979 622.519 l
447.2 621.349 l
445.481 620.929 l
443.705 618.799 l
441.929 616.309 l
440.21 619.669 l
438.433 618.499 l
436.714 617.479 l
434.941 615.109 l
433.279 617.989 l
431.503 619.549 l
429.726 620.689 l
428.007 619.969 l
426.229 618.199 l
424.51 619.819 l
422.733 620.059 l
420.957 619.009 l
419.238 619.069 l
417.462 617.389 l
415.743 616.219 l
413.969 618.469 l
412.365 615.859 l
410.588 619.609 l
408.812 620.089 l
407.093 621.109 l
405.315 625.909 l
403.596 623.989 l
401.819 626.539 l
400.043 625.099 l
398.324 625.159 l
396.548 625.399 l
394.829 625.789 l
393.055 624.559 l
391.45 623.749 l
389.674 624.499 l
387.898 622.249 l
386.179 621.589 l
384.4 620.899 l
382.681 619.369 l
380.905 619.759 l
379.129 618.199 l
377.41 620.659 l
375.633 620.209 l
373.917 617.539 l
372.141 616.849 l
370.536 616.309 l
368.76 613.639 l
366.984 611.359 l
365.265 611.419 l
363.486 610.159 l
361.767 607.579 l
359.991 605.779 l
358.215 602.329 l
356.496 602.269 l
354.719 603.079 l
353 603.079 l
351.226 600.589 l
349.565 598.249 l
347.788 595.879 l
346.012 595.609 l
344.293 598.399 l
342.515 597.259 l
340.796 600.139 l
339.019 603.529 l
337.243 602.839 l
335.524 605.089 l
333.748 605.899 l
332.029 604.639 l
330.255 606.979 l
328.651 605.179 l
326.874 604.939 l
325.098 604.999 l
323.377 602.959 l
321.6 602.269 l
319.881 601.309 l
318.105 601.549 l
316.329 600.799 l
314.61 600.439 l
312.834 603.649 l
311.115 601.339 l
309.341 600.289 l
307.736 599.839 l
305.96 598.669 l
304.184 596.299 l
302.465 597.079 l
300.686 594.259 l
298.967 592.279 l
297.191 592.159 l
295.415 584.569 l
293.696 581.239 l
291.919 574.969 l
290.2 570.859 l
288.426 571.969 l
286.822 575.839 l
285.046 574.129 l
283.27 569.359 l
281.551 576.379 l
279.772 586.189 l
278.053 590.419 l
276.277 590.809 l
274.5 595.849 l
272.781 598.009 l
271.005 597.799 l
269.286 595.339 l
267.512 603.499 l
265.851 604.219 l
264.074 602.359 l
262.298 599.419 l
260.579 599.989 l
258.8 598.729 l
257.081 596.569 l
255.305 598.129 l
253.529 596.239 l
251.81 594.349 l
250.034 592.039 l
248.315 589.339 l
246.541 588.229 l
244.936 588.619 l
243.16 587.209 l
241.384 584.809 l
239.665 583.069 l
237.886 581.479 l
236.167 581.329 l
234.391 582.499 l
232.615 582.229 l
232.5 582.889 l
S
q
226.5 507.389 8 25.5 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 Strategic Absolute Return Bond I )Tj
0 -1.25 TD
(Portfolio Base Shares \(Acc.\))Tj
/F2 1 Tf
4 0 0 4 322.556 519.9892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
394 507.389 4 25.5 re
W n
1 0.84 0.31 0.17 K
3 w
394 532.889 m
398 532.889 l
S
Q
q
400 507.389 4 25.5 re
W n
1 0.84 0.31 0.17 K
3 w
400 532.889 m
404 532.889 l
S
Q
BT
/F1 1 Tf
8 0 0 8 407 526.8892 Tm
-0.025 Tc
(3 Month Libor )Tj
ET
q
0.2 i
407 522.389 153.5 10.5 re
W n
BT
8 0 0 8 449.96 526.8892 Tm
0 Tc
(\()Tj
ET
Q
BT
8 0 0 8 451.984 526.8892 Tm
(USD)Tj
ET
q
0.2 i
407 522.389 153.5 10.5 re
W n
BT
8 0 0 8 465.608 526.8892 Tm
0 Tc
(\))Tj
/F2 1 Tf
4 0 0 4 467.632 529.9892 Tm
(\()Tj
ET
Q
BT
/F2 1 Tf
4 0 0 4 468.32 529.9892 Tm
0 Tc
(3)Tj
ET
q
0.2 i
407 522.389 153.5 10.5 re
W n
BT
4 0 0 4 469.896 529.9892 Tm
(\))Tj
ET
Q
BT
8 0 0 8 212.5 501.3892 Tm
(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
212.5 432.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 448.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 437.8892 Tm
0 0 0 0 k
-0.015 Tc
(Performance Summary \(%\))Tj
/F5 1 Tf
8 0 0 8 398.052 420.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Cumulative)-8764(Annualised)]TJ
/F2 1 Tf
-6.669 -1.625 TD
[(Since Launch)-1334(1 Mth)-1220(3 Mths)-1575(YTD)]TJ
ET
q
465.5 403.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
469.5 416.389 m
469.5 391.389 l
S
Q
BT
8 0 0 8 479.748 407.8892 Tm
(1 Y)Tj
ET
q
0.2 i
470.5 403.389 20 11 re
W n
BT
8 0 0 8 488.476 407.8892 Tm
0 Tc
(r)Tj
ET
Q
BT
8 0 0 8 500.836 407.8892 Tm
[(3 Yrs)-1292(5 Yrs)-873(10 Yrs)]TJ
ET
q
212.5 390.389 128 13 re
W n
0.132 0.08 0.028 0 k
212.5 403.389 128 -13 re
f
Q
BT
8 0 0 8 217.5 394.8893 Tm
(Base Shares \(Acc.\))Tj
4 0 0 4 267.66 398.3892 Tm
-0.05 Tc
(\(4\))Tj
ET
0.132 0.08 0.028 0 k
340.5 403.389 45 -13 re
f
BT
8 0 0 8 365.516 394.8893 Tm
0 0 0 1 k
-0.025 Tc
(25.49)Tj
ET
q
385.5 390.389 27 13 re
W n
0.132 0.08 0.028 0 k
385.5 403.389 27 -13 re
f
Q
BT
8 0 0 8 395.868 394.8893 Tm
(0.06)Tj
ET
q
412.5 390.389 29 13 re
W n
0.132 0.08 0.028 0 k
412.5 403.389 29 -13 re
f
Q
BT
8 0 0 8 424.868 394.8893 Tm
(1.21)Tj
ET
0.132 0.08 0.028 0 k
441.5 403.389 24 -13 re
f
BT
8 0 0 8 448.868 394.8893 Tm
0 0 0 1 k
(0.06)Tj
ET
q
465.5 390.389 5 13 re
W n
0.132 0.08 0.028 0 k
465.5 403.389 5 -13 re
f
0 0 0 1 K
1 w [2 2 ]2 d
469.5 403.389 m
469.5 378.389 l
S
Q
0.132 0.08 0.028 0 k
470.5 403.389 25 -13 re
f
BT
8 0 0 8 478.868 394.8893 Tm
0 0 0 1 k
(4.40)Tj
ET
0.132 0.08 0.028 0 k
495.5 403.389 24 -13 re
f
BT
8 0 0 8 502.868 394.8893 Tm
0 0 0 1 k
(2.78)Tj
ET
0.132 0.08 0.028 0 k
519.5 403.389 24 -13 re
f
BT
8 0 0 8 526.868 394.8893 Tm
0 0 0 1 k
(2.35)Tj
ET
0.132 0.08 0.028 0 k
543.5 403.389 24 -13 re
f
BT
8 0 0 8 550.868 394.8893 Tm
0 0 0 1 k
(1.56)Tj
-41.671 -1.625 TD
(3 Month Libor \(USD\))Tj
4 0 0 4 272.348 385.3892 Tm
-0.05 Tc
(\(3\))Tj
8 0 0 8 365.516 381.8892 Tm
-0.025 Tc
[(23.63)-1921(0.02)-2171(0.06)-1546(0.02)]TJ
ET
q
465.5 377.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
469.5 390.389 m
469.5 365.389 l
S
Q
BT
8 0 0 8 478.868 381.8892 Tm
[(0.53)-1546(1.76)-1546(1.48)-1546(0.90)]TJ
ET
q
212.5 354.889 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 371.389 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 360.3892 Tm
0 0 0 0 k
-0.015 Tc
(Calendar Year Performance \(%\))Tj
/F2 1 Tf
8 0 0 8 449.092 346.3892 Tm
0 0 0 1 k
-0.025 Tc
[(2016)-1449(2017)-1449(2018)-1449(2019)-1449(2020)]TJ
ET
0.132 0.08 0.028 0 k
212.5 341.889 230 -13 re
f
BT
8 0 0 8 217.5 333.3892 Tm
0 0 0 1 k
(Base Shares \(Acc.\))Tj
ET
q
442.5 328.889 25 13 re
W n
0.132 0.08 0.028 0 k
442.5 341.889 25 -13 re
f
Q
BT
8 0 0 8 454.22 333.3892 Tm
(1.3)Tj
ET
0.132 0.08 0.028 0 k
467.5 341.889 25 -13 re
f
BT
8 0 0 8 479.22 333.3892 Tm
0 0 0 1 k
(1.0)Tj
ET
q
492.5 328.889 25 13 re
W n
0.132 0.08 0.028 0 k
492.5 341.889 25 -13 re
f
Q
BT
8 0 0 8 504.22 333.3892 Tm
(0.3)Tj
ET
0.132 0.08 0.028 0 k
517.5 341.889 25 -13 re
f
BT
8 0 0 8 529.22 333.3892 Tm
0 0 0 1 k
(4.2)Tj
ET
q
542.5 328.889 25 13 re
W n
0.132 0.08 0.028 0 k
542.5 341.889 25 -13 re
f
Q
BT
8 0 0 8 554.22 333.3892 Tm
(4.6)Tj
-42.09 -1.625 TD
[(3 Month Libor \(USD\))-22734(0.8)-2090(1.3)-2090(2.)]TJ
ET
q
0.2 i
492.5 315.889 20 11 re
W n
BT
8 0 0 8 509.148 320.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 529.22 320.3892 Tm
(2.)Tj
ET
q
0.2 i
517.5 315.889 20 11 re
W n
BT
8 0 0 8 534.148 320.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 554.22 320.3892 Tm
(0.7)Tj
/F5 1 Tf
-42.09 -22.6112 TD
(Please see Additional Notes. All performance and holdings data as at 31-Jan-21.)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 focused investment portfolios we understand that the categorisation may be different from the perspective )Tj
T*
(of different investors.)Tj
/F5 1 Tf
7.775 0 TD
( Consult your nancial adviser before investing to help determine if an investment in this )Tj
ET
q
0.2 i
217.5 24.5 350 110.5 re
W n
BT
8 0 0 8 217.5 29 Tm
(f)Tj
ET
Q
BT
8 0 0 8 219.724 29 Tm
(und and the amount of the investment would be suitable)Tj
/F2 1 Tf
22.61 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
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W n
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142.5 472.889 55 -13 re
f
Q
BT
8 0 0 8 178.836 464.3892 Tm
(Dail)Tj
ET
q
0.2 i
142.5 459.889 50 11 re
W n
BT
8 0 0 8 189.588 464.3892 Tm
0 Tc
(y)Tj
ET
Q
BT
8 0 0 8 32.5 451.3892 Tm
[(Reporting year end)-9065(30 Novembe)]TJ
ET
q
0.2 i
142.5 446.889 50 11 re
W n
BT
8 0 0 8 190.476 451.3892 Tm
0 Tc
(r)Tj
ET
Q
0.132 0.08 0.028 0 k
27.5 446.889 50 -23.5 re
f
BT
8 0 0 8 32.5 438.3893 Tm
0 0 0 1 k
(Reference )Tj
0 -1.3125 TD
(Benchmark)Tj
ET
q
0.6 i
77.5 423.389 120 23.5 re
W n
0.132 0.08 0.028 0 k
77.5 446.889 120 -23.5 re
f
Q
BT
8 0 0 8 137.652 438.3893 Tm
(3 Month Libor \(USD\))Tj
-13.144 -2.9375 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
-0.015 Tc
(Sector Allocation \(%\))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
(Top 10 Currency Weights \(%\))Tj
ET
q
0.2 i
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
282.5 641.762 276.341 631.548 266.499 626.356 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
282.5 641.762 276.341 631.548 266.499 626.356 c
h
252.5 652.889 m
S
252.5 652.889 m
266.499 626.356 l
251.845 618.624 233.698 624.236 225.967 638.89 c
225.111 640.512 224.406 642.208 223.86 643.959 c
h
252.5 652.889 m
f
252.5 652.889 m
266.499 626.356 l
251.845 618.624 233.698 624.236 225.967 638.89 c
225.111 640.512 224.406 642.208 223.86 643.959 c
h
252.5 652.889 m
S
252.5 652.889 m
223.86 643.959 l
222.075 649.683 222.046 655.81 223.777 661.55 c
h
252.5 652.889 m
f
252.5 652.889 m
223.86 643.959 l
222.075 649.683 222.046 655.81 223.777 661.55 c
h
252.5 652.889 m
S
252.5 652.889 m
223.777 661.55 l
225.49 667.229 228.847 672.273 233.425 676.044 c
h
252.5 652.889 m
f
252.5 652.889 m
223.777 661.55 l
225.49 667.229 228.847 672.273 233.425 676.044 c
h
252.5 652.889 m
S
252.5 652.889 m
233.425 676.044 l
235.653 677.88 238.134 679.384 240.792 680.51 c
h
252.5 652.889 m
f
252.5 652.889 m
233.425 676.044 l
235.653 677.88 238.134 679.384 240.792 680.51 c
h
252.5 652.889 m
S
252.5 652.889 m
240.792 680.51 l
241.888 680.975 243.011 681.374 244.155 681.705 c
h
252.5 652.889 m
f
252.5 652.889 m
240.792 680.51 l
241.888 680.975 243.011 681.374 244.155 681.705 c
h
252.5 652.889 m
S
252.5 652.889 m
244.155 681.705 l
245.178 682.001 246.216 682.243 247.265 682.429 c
h
252.5 652.889 m
f
252.5 652.889 m
244.155 681.705 l
245.178 682.001 246.216 682.243 247.265 682.429 c
h
252.5 652.889 m
S
252.5 652.889 m
247.265 682.429 l
247.758 682.516 248.254 682.591 248.751 682.654 c
h
252.5 652.889 m
f
252.5 652.889 m
247.265 682.429 l
247.758 682.516 248.254 682.591 248.751 682.654 c
h
252.5 652.889 m
S
252.5 652.889 m
248.751 682.654 l
249.995 682.811 251.247 682.889 252.5 682.889 c
h
252.5 652.889 m
f
252.5 652.889 m
248.751 682.654 l
249.995 682.811 251.247 682.889 252.5 682.889 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
(42.4)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
(Governments)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.832 -1.5 TD
(28.0)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
(Residential Mortgages )Tj
ET
q
0.2 i
307.5 674.889 75 8 re
W n
BT
6 0 0 6 358.756 678.3892 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 360.224 678.3892 Tm
(RMBS)Tj
ET
q
0.2 i
307.5 674.889 75 8 re
W n
BT
6 0 0 6 374.76 678.3892 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 292.972 669.3892 Tm
0 0.97 1 0.5 k
(9.5)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
(Corporates - High Yield)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(9.4)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 - Inv. Grade)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(4.6)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
(Asset-Backed Securities )Tj
ET
q
0.2 i
307.5 647.889 75 8 re
W n
BT
6 0 0 6 363.684 651.3892 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 365.152 651.3892 Tm
(ABS)Tj
ET
q
0.2 i
307.5 647.889 75 8 re
W n
BT
6 0 0 6 375.22 651.3892 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 292.972 642.3892 Tm
0 0.97 1 0.5 k
(1.9)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
(Emerging Market Debt)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(1.7)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
ET
q
0.2 i
307.5 629.889 75 8 re
W n
BT
6 0 0 6 360.954 633.3892 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 362.422 633.3892 Tm
(CMBS)Tj
ET
q
0.2 i
307.5 629.889 75 8 re
W n
BT
6 0 0 6 376.958 633.3892 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 292.972 624.3892 Tm
0 0.97 1 0.5 k
(0.8)Tj
ET
q
0.2 i
287.5 620.889 16 8 re
W n
BT
6 0 0 6 299.032 624.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 624.3892 Tm
0 0 0 1 k
(Quasi-Governments)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(2.0)Tj
ET
q
0.2 i
287.5 611.889 16 8 re
W n
BT
6 0 0 6 299.032 615.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 615.3892 Tm
0 0 0 1 k
(Cash)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.721 -1.5 TD
(-0.1)Tj
ET
q
0.2 i
287.5 602.889 16 8 re
W n
BT
6 0 0 6 299.032 606.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 606.3892 Tm
0 0 0 1 k
(Derivatives)Tj
ET
0 0 0 0.4 K
0.2 w
469.5 550.806 m
564.5 550.806 l
469.5 563.723 m
564.5 563.723 l
469.5 576.639 m
564.5 576.639 l
469.5 589.556 m
564.5 589.556 l
469.5 602.473 m
564.5 602.473 l
469.5 615.389 m
564.5 615.389 l
469.5 628.306 m
564.5 628.306 l
469.5 641.223 m
564.5 641.223 l
469.5 654.139 m
564.5 654.139 l
469.5 667.056 m
564.5 667.056 l
469.5 679.973 m
564.5 679.973 l
469.5 692.889 m
564.5 692.889 l
S
0 0.97 1 0.5 k
484.383 549.306 4.117 -9.917 re
f
BT
/F2 1 Tf
5 0 0 5 472.3583 542.3475 Tm
/Cs7 cs 0 scn
0 Tc
(-6.5 )Tj
ET
0 0.97 1 0.5 k
488.5 552.306 m
488.5 562.223 l
488.5 552.306 l
f
BT
5 0 0 5 493.17 555.2642 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 565.223 m
488.5 575.139 l
488.5 565.223 l
f
BT
5 0 0 5 493.17 568.1809 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 578.139 m
488.5 588.056 l
488.5 578.139 l
f
BT
5 0 0 5 493.17 581.0975 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 600.973 0.063 -9.917 re
f
BT
5 0 0 5 493.2333 594.0142 Tm
/Cs7 cs 0 scn
(0.1 )Tj
ET
0 0.97 1 0.5 k
488.5 613.889 0.063 -9.917 re
f
BT
5 0 0 5 493.2333 606.9309 Tm
/Cs7 cs 0 scn
(0.1 )Tj
ET
0 0.97 1 0.5 k
488.5 626.806 0.127 -9.917 re
f
BT
5 0 0 5 493.2966 619.8475 Tm
/Cs7 cs 0 scn
(0.2 )Tj
ET
0 0.97 1 0.5 k
488.5 639.723 0.127 -9.917 re
f
BT
5 0 0 5 493.2966 632.7642 Tm
/Cs7 cs 0 scn
(0.2 )Tj
ET
0 0.97 1 0.5 k
488.5 652.639 0.253 -9.917 re
f
BT
5 0 0 5 493.4233 645.6809 Tm
/Cs7 cs 0 scn
(0.4 )Tj
ET
0 0.97 1 0.5 k
488.5 665.556 0.507 -9.917 re
f
BT
5 0 0 5 493.6767 658.5975 Tm
/Cs7 cs 0 scn
(0.8 )Tj
ET
0 0.97 1 0.5 k
488.5 678.473 0.697 -9.917 re
f
BT
5 0 0 5 493.8666 671.5143 Tm
/Cs7 cs 0 scn
(1.1 )Tj
ET
0 0.97 1 0.5 k
488.5 691.389 65.55 -9.917 re
f
BT
5 0 0 5 556.5005 684.4309 Tm
/Cs7 cs 0 scn
(103.5 )Tj
ET
0 0 0 1 K
0.5 w
469.5 537.889 m
564.5 537.889 l
469.5 537.889 m
469.5 534.889 l
S
BT
5 0 0 5 466.585 528.8892 Tm
0 0 0 1 k
(-30)Tj
ET
479 537.889 m
479 534.889 l
S
BT
5 0 0 5 476.085 528.8892 Tm
(-15)Tj
ET
488.5 537.889 m
488.5 534.889 l
S
BT
5 0 0 5 487.39 528.8892 Tm
(0)Tj
ET
498 537.889 m
498 534.889 l
S
BT
5 0 0 5 495.78 528.8892 Tm
(15)Tj
ET
507.5 537.889 m
507.5 534.889 l
S
BT
5 0 0 5 505.28 528.8892 Tm
(30)Tj
ET
517 537.889 m
517 534.889 l
S
BT
5 0 0 5 514.78 528.8892 Tm
(45)Tj
ET
526.5 537.889 m
526.5 534.889 l
S
BT
5 0 0 5 524.28 528.8892 Tm
(60)Tj
ET
536 537.889 m
536 534.889 l
S
BT
5 0 0 5 533.78 528.8892 Tm
(75)Tj
ET
545.5 537.889 m
545.5 534.889 l
S
BT
5 0 0 5 543.28 528.8892 Tm
(90)Tj
ET
555 537.889 m
555 534.889 l
S
BT
5 0 0 5 551.67 528.8892 Tm
(105)Tj
ET
564.5 537.889 m
564.5 534.889 l
S
BT
5 0 0 5 561.17 528.8892 Tm
(120)Tj
ET
488.5 537.889 m
488.5 692.889 l
S
BT
6 0 0 6 397.5 542.8475 Tm
(Other)Tj
0 2.1528 TD
(Czech Koruna)Tj
T*
(Indian Rupee)Tj
T*
[(Korean W)18(o)0(n)]TJ
T*
(Colombian Peso)Tj
T*
(Singapore Dollar)Tj
T*
(Russian Ruble)Tj
T*
(Thailand Baht)Tj
T*
[(Chinese Y)60(uan)]TJ
T*
[(New T)74(aiwan Dollar)]TJ
T*
[(Japanese Y)55(e)0(n)]TJ
T*
(United States Dollar)Tj
ET
q
212.5 506.389 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 522.889 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 511.8892 Tm
0 0 0 0 k
-0.015 Tc
(Geographical Bond Allocation \(%\))Tj
ET
q
397.5 506.389 170 16.5 re
W n
0.53 0.32 0.11 0 k
397.5 522.889 170 -16.5 re
f
Q
BT
10 0 0 10 401.5 511.8892 Tm
(Credit Allocation \(%\))Tj
/F2 1 Tf
8 0 0 8 229.236 497.8892 Tm
0 0 0 1 k
-0.025 Tc
(Goldman Sachs Strategic )Tj
0.754 -1.3125 TD
(Absolute Return Bond I )Tj
4.95 -1.3125 TD
(Portfolio)Tj
5.977 0.125 TD
(3 Month USD LIBOR)Tj
ET
q
212.5 458.389 70 14 re
W n
0.132 0.08 0.028 0 k
212.5 472.389 70 -14 re
f
Q
BT
8 0 0 8 217.5 463.8892 Tm
(US)Tj
ET
q
282.5 458.389 20 14 re
W n
0.132 0.08 0.028 0 k
282.5 472.389 20 -14 re
f
Q
BT
8 0 0 8 285.868 463.8892 Tm
(82.2)Tj
ET
q
302.5 458.389 80 14 re
W n
0.132 0.08 0.028 0 k
302.5 472.389 80 -14 re
f
Q
BT
8 0 0 8 362.516 463.8892 Tm
(100.0)Tj
-18.127 -1.75 TD
[(Japan)-6451(14.8)-8965(0.0)]TJ
ET
q
212.5 430.389 70 14 re
W n
0.132 0.08 0.028 0 k
212.5 444.389 70 -14 re
f
Q
BT
8 0 0 8 217.5 435.8892 Tm
(UK)Tj
ET
q
282.5 430.389 20 14 re
W n
0.132 0.08 0.028 0 k
282.5 444.389 20 -14 re
f
Q
BT
8 0 0 8 289.22 435.8892 Tm
(1.6)Tj
ET
q
302.5 430.389 80 14 re
W n
0.132 0.08 0.028 0 k
302.5 444.389 80 -14 re
f
Q
BT
8 0 0 8 369.22 435.8892 Tm
(0.0)Tj
-18.965 -1.75 TD
[(Eurozone)-5890(1.5)-8965(0.0)]TJ
ET
q
212.5 402.389 70 14 re
W n
0.132 0.08 0.028 0 k
212.5 416.389 70 -14 re
f
Q
BT
8 0 0 8 217.5 407.8892 Tm
(Australia)Tj
ET
q
282.5 402.389 20 14 re
W n
0.132 0.08 0.028 0 k
282.5 416.389 20 -14 re
f
Q
BT
8 0 0 8 289.22 407.8892 Tm
(0.1)Tj
ET
q
302.5 402.389 80 14 re
W n
0.132 0.08 0.028 0 k
302.5 416.389 80 -14 re
f
Q
BT
8 0 0 8 369.22 407.8892 Tm
(0.0)Tj
-18.965 -1.75 TD
[(Other)-6837(-0.1)-8965(0.0)]TJ
ET
0 0 0 0.4 K
0.2 w
469.5 369.571 m
564.5 369.571 l
469.5 382.753 m
564.5 382.753 l
469.5 395.935 m
564.5 395.935 l
469.5 409.117 m
564.5 409.117 l
469.5 422.298 m
564.5 422.298 l
469.5 435.48 m
564.5 435.48 l
469.5 448.662 m
564.5 448.662 l
469.5 461.844 m
564.5 461.844 l
469.5 475.026 m
564.5 475.026 l
469.5 488.207 m
564.5 488.207 l
469.5 501.389 m
564.5 501.389 l
S
0.38 0.27 0.07 0 k
488.5 356.889 m
488.5 362.98 l
488.5 356.889 l
f
BT
5 0 0 5 493.17 357.9347 Tm
/Cs7 cs 0 scn
0 Tc
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.437 369.071 0.063 -6.091 re
f
BT
5 0 0 5 476.4117 364.0256 Tm
/Cs7 cs 0 scn
(-0.1 )Tj
ET
0.38 0.27 0.07 0 k
488.5 376.162 63.333 -6.091 re
f
BT
5 0 0 5 554.2838 371.1165 Tm
/Cs7 cs 0 scn
(100.0 )Tj
ET
0 0.97 1 0.5 k
488.5 382.253 1.267 -6.091 re
f
BT
5 0 0 5 494.4366 377.2074 Tm
/Cs7 cs 0 scn
(2.0 )Tj
ET
0.38 0.27 0.07 0 k
488.5 383.253 m
488.5 389.344 l
488.5 383.253 l
f
BT
5 0 0 5 493.17 384.2983 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 395.435 1.203 -6.091 re
f
BT
5 0 0 5 494.3734 390.3892 Tm
/Cs7 cs 0 scn
(1.9 )Tj
ET
0.38 0.27 0.07 0 k
488.5 396.435 m
488.5 402.526 l
488.5 396.435 l
f
BT
5 0 0 5 493.17 397.4802 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 408.617 0.063 -6.091 re
f
BT
5 0 0 5 493.2333 403.571 Tm
/Cs7 cs 0 scn
(0.1 )Tj
ET
0.38 0.27 0.07 0 k
488.5 409.617 m
488.5 415.707 l
488.5 409.617 l
f
BT
5 0 0 5 493.17 410.662 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 421.798 0.76 -6.091 re
f
BT
5 0 0 5 493.9301 416.7529 Tm
/Cs7 cs 0 scn
(1.2 )Tj
ET
0.38 0.27 0.07 0 k
488.5 422.798 m
488.5 428.889 l
488.5 422.798 l
f
BT
5 0 0 5 493.17 423.8438 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 434.98 2.66 -6.091 re
f
BT
5 0 0 5 495.83 429.9347 Tm
/Cs7 cs 0 scn
(4.2 )Tj
ET
0.38 0.27 0.07 0 k
488.5 435.98 m
488.5 442.071 l
488.5 435.98 l
f
BT
5 0 0 5 493.17 437.0256 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 448.162 3.737 -6.091 re
f
BT
5 0 0 5 496.9066 443.1165 Tm
/Cs7 cs 0 scn
(5.9 )Tj
ET
0.38 0.27 0.07 0 k
488.5 449.162 m
488.5 455.253 l
488.5 449.162 l
f
BT
5 0 0 5 493.17 450.2074 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 461.344 6.207 -6.091 re
f
BT
5 0 0 5 499.3767 456.2983 Tm
/Cs7 cs 0 scn
(9.8 )Tj
ET
0.38 0.27 0.07 0 k
488.5 462.344 m
488.5 468.435 l
488.5 462.344 l
f
BT
5 0 0 5 493.17 463.3893 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 474.526 16.277 -6.091 re
f
BT
5 0 0 5 508.3367 469.4802 Tm
/Cs7 cs 0 scn
(25.7 )Tj
ET
0.38 0.27 0.07 0 k
488.5 475.526 m
488.5 481.617 l
488.5 475.526 l
f
BT
5 0 0 5 493.17 476.5711 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 487.707 0.443 -6.091 re
f
BT
5 0 0 5 493.6133 482.662 Tm
/Cs7 cs 0 scn
(0.7 )Tj
ET
0.38 0.27 0.07 0 k
488.5 488.707 m
488.5 494.798 l
488.5 488.707 l
f
BT
5 0 0 5 493.17 489.7529 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
488.5 500.889 30.843 -6.091 re
f
BT
5 0 0 5 522.9033 495.8438 Tm
/Cs7 cs 0 scn
(48.7 )Tj
ET
0 0 0 1 K
0.5 w
469.5 356.389 m
564.5 356.389 l
469.5 356.389 m
469.5 353.389 l
S
BT
5 0 0 5 466.585 347.3892 Tm
0 0 0 1 k
(-30)Tj
ET
479 356.389 m
479 353.389 l
S
BT
5 0 0 5 476.085 347.3892 Tm
(-15)Tj
ET
488.5 356.389 m
488.5 353.389 l
S
BT
5 0 0 5 487.39 347.3892 Tm
(0)Tj
ET
498 356.389 m
498 353.389 l
S
BT
5 0 0 5 495.78 347.3892 Tm
(15)Tj
ET
507.5 356.389 m
507.5 353.389 l
S
BT
5 0 0 5 505.28 347.3892 Tm
(30)Tj
ET
517 356.389 m
517 353.389 l
S
BT
5 0 0 5 514.78 347.3892 Tm
(45)Tj
ET
526.5 356.389 m
526.5 353.389 l
S
BT
5 0 0 5 524.28 347.3892 Tm
(60)Tj
ET
536 356.389 m
536 353.389 l
S
BT
5 0 0 5 533.78 347.3892 Tm
(75)Tj
ET
545.5 356.389 m
545.5 353.389 l
S
BT
5 0 0 5 543.28 347.3892 Tm
(90)Tj
ET
555 356.389 m
555 353.389 l
S
BT
5 0 0 5 551.67 347.3892 Tm
(105)Tj
ET
564.5 356.389 m
564.5 353.389 l
S
BT
5 0 0 5 561.17 347.3892 Tm
(120)Tj
ET
488.5 356.389 m
488.5 501.389 l
S
BT
6 0 0 6 397.5 361.4801 Tm
(Derivatives)Tj
0 2.197 TD
(Cash)Tj
T*
(NR)Tj
T*
(CC)Tj
T*
(CCC)Tj
T*
(B)Tj
T*
(BB)Tj
T*
(BBB)Tj
T*
(A)Tj
T*
(AA)Tj
T*
(AAA)Tj
ET
q
397.5 322.889 5 20.5 re
W n
0 0.97 1 0.5 K
10 w
397.5 343.389 m
402.5 343.389 l
S
Q
BT
/F1 1 Tf
6 0 0 6 405.5 338.8892 Tm
-0.0333 Tc
(Goldman Sachs Strategic )Tj
0 -1.25 TD
(Absolute Return Bond I Portfolio)Tj
ET
q
482.5 322.889 5 20.5 re
W n
0.38 0.27 0.07 0 K
10 w
482.5 343.389 m
487.5 343.389 l
S
Q
BT
6 0 0 6 490.5 338.8892 Tm
(3 Month USD LIBOR)Tj
/F5 1 Tf
8 0 0 8 217.5 139.5 Tm
-0.025 Tc
(Please see Additional Notes. All performance and holdings data as at 31-Jan-21. Past performance does not )Tj
T*
(guarantee future results, which may vary. The value of investments and the income derived from investments will )Tj
ET
q
0.2 i
217.5 115 350 30.5 re
W n
BT
8 0 0 8 217.5 119.5 Tm
0 Tc
()Tj
ET
Q
BT
8 0 0 8 221.3 119.5 Tm
(uctuate and can go down as well as up. A loss of capital may occur.)Tj
/F2 1 Tf
4 0 0 4 217.5 112 Tm
0 Tc
(\(1\))Tj
8 0 0 8 221.052 109 Tm
[(The ongoing charges gure is based on expenses during the previous year)70(. See details in the Key Investor Information )]TJ
-0.444 -1.25 TD
(Document.)Tj
4 0 0 4 250.38 102 Tm
( \(2\))Tj
8 0 0 8 254.82 99 Tm
(The performance fees are calculated in accordance with the methodology described in the prospectus )Tj
-4.665 -1.25 TD
(using a rate of 20.00% of net returns the share class achieves above 3 Month LIBOR. In the Fund's last nancial year the )Tj
T*
(performance fee was 0.00% of the net asset value of the share class.)Tj
4 0 0 4 420.0681 82 Tm
( \(3\))Tj
8 0 0 8 424.508 79 Tm
(The 3 Month Libor Index is quoted month-end )Tj
-25.876 -1.25 TD
(with income reinvested and, in contrast to the Portfolio, shown without the deduction of any expenses.)Tj
4 0 0 4 516.452 72 Tm
( \(4\))Tj
8 0 0 8 520.892 69 Tm
(Fund returns )Tj
-37.924 -1.25 TD
[(are shown net of applicable ongoing fees within the portfolio, with dividends re-invested using the ex-dividend NA)37(V)100(.)0( )]TJ
T*
(These returns are for comparison of performance against specied index. As the investor may be liable to other fees, )Tj
T*
(charges and taxes, they are not meant to provide a measure of actual return to investors. The performance data do not )Tj
T*
(take account of the commissions and costs incurred on the issue and redemption of shares.)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
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51.974 56.422 52.131 56.071 52.908 55.621 c
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50.93 53.781 l
51.135 53.781 l
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51.479 54.88 50.869 55.224 50.869 56.087 c
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34.901 57.146 l
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(Contingent Convertible \(Coco\) Bond Risk)Tj
/F1 1 Tf
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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
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/F5 1 Tf
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(Counterparty risk)Tj
/F1 1 Tf
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( a party that the Portfolio transacts with may fail to meet its obligations which could cause losses.)Tj
/F6 1 Tf
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()Tj
/F5 1 Tf
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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
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/F5 1 Tf
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(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
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()Tj
/F5 1 Tf
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(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
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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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
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()Tj
/F5 1 Tf
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(High yield risk)Tj
/F1 1 Tf
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( high yield instruments, meaning investments which pay a high amount of income generally involve greater credit risk and sensit)Tj
51.04 0 TD
(ivity to economic )Tj
-57.296 -1.3125 TD
(developments, giving rise to greater price movement than lower yielding instruments.)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
(Interest rate risk)Tj
/F1 1 Tf
8 0 0 8 94.6285 538.3892 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 27.5 515.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 515.8892 Tm
0 0 0 1 k
(Leverage risk)Tj
/F1 1 Tf
8 0 0 8 84.233 515.8892 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 27.5 482.8892 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
(Liquidity risk)Tj
/F1 1 Tf
8 0 0 8 82.3545 482.8892 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
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Market risk)Tj
/F1 1 Tf
8 0 0 8 77.6285 460.3892 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 27.5 448.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 448.3892 Tm
0 0 0 1 k
(Operational risk)Tj
/F1 1 Tf
8 0 0 8 93.2175 448.3892 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
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6 0 0 6 27.5 436.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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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 436.3892 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 27.5 320.3892 Tm
0.53 0.32 0.11 0 k
(Glossary)Tj
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/F5 1 Tf
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(Beta)Tj
/F1 1 Tf
8 0 0 8 53.5565 291.3892 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
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Duration of the Portfolio)Tj
/F1 1 Tf
8 0 0 8 120.1455 268.8892 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
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Excess returns)Tj
/F1 1 Tf
8 0 0 8 88.483 235.8892 Tm
( The return of the fund in excess of the benchmark/index return \(annualised\).)Tj
/F6 1 Tf
6 0 0 6 27.5 223.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 223.8892 Tm
0 0 0 1 k
(Historical tracking error)Tj
/F1 1 Tf
8 0 0 8 121.072 223.8892 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 27.5 201.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 201.3892 Tm
0 0 0 1 k
(Historical Volatility of Portfolio)Tj
/F1 1 Tf
8 0 0 8 144.7105 201.3892 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
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Interest Rate Duration)Tj
/F1 1 Tf
8 0 0 8 113.0565 178.8892 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 27.5 135.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Net Asset Value)Tj
/F1 1 Tf
8 0 0 8 92.75 135.3892 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 27.5 123.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 123.3892 Tm
0 0 0 1 k
(Ongoing Charges)Tj
/F1 1 Tf
8 0 0 8 96.524 123.3892 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 27.5 100.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 100.8892 Tm
0 0 0 1 k
(Other Expenses)Tj
/F1 1 Tf
8 0 0 8 91.322 100.8892 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 78.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 78.3892 Tm
0 0 0 1 k
(R)Tj
/F2 1 Tf
4 0 0 4 42.226 81.8892 Tm
(2)Tj
/F1 1 Tf
8 0 0 8 44.002 78.3892 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 55.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Swing pricing)Tj
/F1 1 Tf
8 0 0 8 86.1455 55.8892 Tm
( The swing factor represents the factor in place month end and is subject to change on any Dealing Day depending on prevailin)Tj
51.433 0 TD
(g market conditions.)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
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(Additional Notes)Tj
8 0 0 8 27.5 761.8892 Tm
0 0 0 1 k
-0.0313 Tc
0.0001 Tw
(This material is a nancial promotion and has been issued by Goldman Sachs International, authorised by the Prudential Regulati)Tj
47.4093 0 TD
0 Tw
(on Authority and regulated by the Financial Conduct )Tj
-47.4093 -1.3125 TD
(Authority and the Prudential Regulation Authority.)Tj
0 -1.375 TD
0.0001 Tw
(Furthermore, this information should not be construed as nancial research. It was not prepared in compliance with applicable p)Tj
47.3523 0 TD
(rovisions of law designed to promote the )Tj
-47.3523 -1.3125 TD
0 Tw
(independence of nancial analysis and is not subject to a prohibition on trading following the distribution of nancial researc)Tj
45.7983 0 TD
(h.)Tj
-45.7983 -1.375 TD
0.0001 Tw
(This information is intended for viewing only by the intended recipient and may not be reproduced or distributed to any person )Tj
46.4633 0 TD
0 Tw
(in whole or in part without the prior written consent of )Tj
-46.4633 -1.3125 TD
0.0001 Tw
(GSI. Goldman Sachs International accepts no liability for the misuse or inappropriate distribution of this material.)Tj
/F5 1 Tf
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0 Tw
(Offering Documents)Tj
/F1 1 Tf
7.4925 0 TD
0.0001 Tw
(: This material is provided at your request for informational purposes only and does not constitute a solicitation in any juris)Tj
44.6833 0 TD
0 Tw
(diction in which such a solicitation is )Tj
-52.1758 -1.3125 TD
0.0001 Tw
(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
46.0203 0 TD
0 Tw
(onstitute an offer to buy shares in the fund. Prior to an )Tj
-46.0203 -1.3125 TD
0.0001 Tw
(investment, prospective investors should carefully read the latest Key Investor Information Document \(KIID\) as well as the offe)Tj
46.4653 0 TD
(ring documentation, including but not limited to the )Tj
-46.4653 -1.3125 TD
(funds prospectus which contains inter alia a comprehensive disclosure of applicable risks. The relevant articles of associatio)Tj
46.2383 0 TD
(n, prospectus, supplement, KIID and latest annual/semi-)Tj
-46.2383 -1.3125 TD
(annual report are available free of charge from the funds paying and information agent and/or from your nancial adviser and a)Tj
46.9643 0 TD
0 Tw
(t www.gsam.com/kiids.)Tj
/F5 1 Tf
-46.9643 -1.375 TD
(Distribution of Shares)Tj
/F1 1 Tf
8.1455 0 TD
0.0001 Tw
(: Shares of the fund may not be registered for public distribution in a number of jurisdictions \(including but not limited to a)Tj
44.2983 0 TD
0 Tw
(ny Latin American, African or Asian )Tj
-52.4438 -1.3125 TD
0.0001 Tw
(countries\). Therefore, the shares of the fund must not be marketed or offered in or to residents of any such jurisdictions unle)Tj
45.5193 0 TD
0 Tw
(ss such marketing or offering is made in compliance with )Tj
-45.5193 -1.3125 TD
0.0001 Tw
(applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules and )Tj
46.8523 0 TD
0 Tw
(regulations.)Tj
/F5 1 Tf
-46.8523 -1.375 TD
0.0001 Tw
(Investment Advice and Potential Loss)Tj
/F1 1 Tf
14.04 0 TD
(: Financial advisers generally suggest a diversied portfolio of investments. The fund described herein does not represent a di)Tj
46.1273 0 TD
0 Tw
(versied )Tj
-60.1673 -1.3125 TD
0.0001 Tw
(investment by itself. This material must not be construed as investment or tax advice. Prospective investors should consult the)Tj
46.3503 0 TD
0 Tw
(ir nancial and tax adviser before investing in order to )Tj
-46.3503 -1.3125 TD
0.0001 Tw
(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
5.3728 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
45.4633 0 TD
0 Tw
(n the fund performing differently compared )Tj
ET
q
1 i
27.5 554.389 540 21.5 re
W n
BT
8 0 0 8 27.5 558.8892 Tm
0 Tc
(t)Tj
ET
Q
BT
8 0 0 8 29.474 558.8892 Tm
0.0001 Tw
(o the reference benchmark based solely on the effect of swing pricing rather than price developments of underlying instruments.)Tj
-0.2467 -1.375 TD
0 Tw
(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
48.0743 0 TD
(arter.)Tj
-48.0743 -1.375 TD
0.0001 Tw
(Additional information is provided in our Form ADV Part-2 which is available at http://www.adviserinfo.sec.gov/IAPD/Content/Sea)Tj
47.5213 0 TD
0 Tw
(rch/iapd_Search.aspx.)Tj
/F5 1 Tf
-47.5213 -1.375 TD
0.0001 Tw
(The relevant articles of association, prospectus, supplement and key investor information document \(KIID\) and latest annual/sem)Tj
48.1373 0 TD
(i-annual report \(as applicable\) are available free of )Tj
-48.1373 -1.3125 TD
(charge from the funds paying and information agents as listed below:)Tj
0 -1.375 TD
0 Tw
(Austria)Tj
/F1 1 Tf
2.7253 0 TD
0.0001 Tw
(: Raiffeisen Bank International AG, Am Stadtpark 9, A-1030 Wien, Austria.)Tj
/F5 1 Tf
-2.7253 -1.375 TD
0 Tw
(Belgium)Tj
/F1 1 Tf
3.1702 0 TD
0.0001 Tw
(: RBC Investor Services, Place Rogier II, 1210 Brussels, Belgium.)Tj
/F5 1 Tf
-3.1702 -1.375 TD
0 Tw
(Denmark)Tj
/F1 1 Tf
3.4473 0 TD
0.0001 Tw
(: Stockrate Asset Management, Mollevej 9 E2, DK-2990 Niva, Denmark.)Tj
/F5 1 Tf
-3.4473 -1.375 TD
0 Tw
(France)Tj
/F1 1 Tf
2.5895 0 TD
0.0001 Tw
(: RBC Investor Services Bank France, 105, rue Raumur, 75002 Paris, France.)Tj
/F5 1 Tf
-2.5895 -1.375 TD
0 Tw
(Germany)Tj
/F1 1 Tf
3.3912 0 TD
(: State Street Bank GmbH, Brienner Strasse 59, 80333 Munich, Germany.)Tj
/F5 1 Tf
-3.3912 -1.375 TD
(Greece)Tj
/F1 1 Tf
2.7565 0 TD
(: Piraeus Bank S.A., 4 Amerikis Street, 10564 Athens, Greece.)Tj
/F5 1 Tf
-2.7565 -1.375 TD
(Ireland)Tj
/F1 1 Tf
2.6702 0 TD
0.0001 Tw
(: RBC Investor Services Ireland Limited, George's Quay House, 43 Townsend Street, Dublin 2, Ireland.)Tj
/F5 1 Tf
-2.6702 -1.375 TD
0 Tw
(Italy)Tj
/F1 1 Tf
1.6217 0 TD
0.0001 Tw
(: Socit Gnrale Securities Services, Maciachini Center MAC 2, Via Benigno Crespi, 19/A, 20159 Milan, Italy; AllFunds Bank )Tj
46.8493 0 TD
0 Tw
(S.A. Filiale di Milano, Via Santa Margherita 7, 20121 )Tj
-48.471 -1.3125 TD
0.0001 Tw
(Milan, Italy; RBC Investor Services Bank Milan- Milan Branch, Cia Vittor Pisani, 26, 20154 Milan, Italy; State Street Bank S.pA)Tj
45.6843 0 TD
(., Via Col Moschin, 16 , 20136 Milan, Italy; BNP Paribas )Tj
-45.6843 -1.3125 TD
(Securities Services Succursale di Milano, Via Ansperto 5, 20121 Milan, Italy; Banca Sella, Piazza Gaudenzio Sella 1, 13900 Bie)Tj
46.4603 0 TD
0 Tw
(lla Bl., Italy.)Tj
/F5 1 Tf
-46.4603 -1.375 TD
(Luxembourg)Tj
/F1 1 Tf
4.6865 0 TD
(: State Street Bank International GmbH, Luxembourg Branch, 49, avenue J.F. Kennedy, L-1855 Luxembourg.)Tj
/F5 1 Tf
-4.6865 -1.375 TD
(Sweden)Tj
/F1 1 Tf
3.1465 0 TD
0.0001 Tw
(: Skandinaviska Enskilda Banken AB, through its entity Global Transaction Services, SEB Merchant Banking, Sergels Torg 2, ST MH)Tj
48.3503 0 TD
0 Tw
(1, SE-106 40 Stockholm, Sweden.)Tj
/F5 1 Tf
-51.4968 -1.375 TD
(Switzerland)Tj
/F1 1 Tf
4.5462 0 TD
0.0001 Tw
(: Swiss Representative of the fund is First Independent Fund Services Ltd, Klausstrasse 33, 8008 Zurich. Paying Agent of the fu)Tj
46.0733 0 TD
(nd in Switzerland is Goldman Sachs Bank AG, )Tj
-50.6195 -1.3125 TD
(Claridenstrasse 25, 8022 Zurich. The Key Investor Information Document \(KIID\) as well as the annual and semi-annual reports of )Tj
47.1293 0 TD
0 Tw
(the fund may be obtained free of charge at the Swiss )Tj
-47.1293 -1.3125 TD
(Representative or Goldman Sachs Bank AG in Zurich.)Tj
0 -1.375 TD
0.0001 Tw
(Please note in addition for:)Tj
/F5 1 Tf
T*
0 Tw
(Australia)Tj
/F1 1 Tf
3.4408 0 TD
0.0001 Tw
(: This material is distributed in Australia and New Zealand by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 )Tj
48.1263 0 TD
0 Tw
(681, AFSL 228948 \(GSAMA\) and is )Tj
-51.567 -1.3125 TD
0.0001 Tw
(intended for viewing only by wholesale clients in Australia for the purposes of section 761G of the Corporations Act 2001 \(Cth\))Tj
45.9623 0 TD
( and to clients who either fall within any or all of the )Tj
-45.9623 -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
4.1077 0 TD
(: This material has been issued or approved for use in or from Hong Kong by Goldman Sachs Asset Management \(Hong Kong\) Limited.)Tj
/F5 1 Tf
-4.1077 -1.375 TD
0 Tw
(Netherlands)Tj
/F1 1 Tf
4.6562 0 TD
0.0001 Tw
(: The fund is included in the register kept by the Stichting Autoriteit Financile Markten.)Tj
/F5 1 Tf
-4.6562 -1.375 TD
0 Tw
(Singapore)Tj
/F1 1 Tf
3.8858 0 TD
0.0001 Tw
(: This material has been issued or approved for use in or from Singapore by Goldman Sachs Asset Management \(Singapore\) Pte. Ltd)Tj
48.6303 0 TD
0 Tw
(. \(Company Number: 201329851H\).)Tj
/F5 1 Tf
-52.516 -1.375 TD
(Spain)Tj
/F1 1 Tf
2.1778 0 TD
0.0001 Tw
(: The fund is a foreign UCITS registered with the CNMV registry with number 141 \(SICAV\), 913 \(SICAV II\), 305 \(PLC\). A full desc)Tj
46.0233 0 TD
0 Tw
(ription and KIID for the fund and other mandatory )Tj
-48.201 -1.3125 TD
0.0001 Tw
(documentation is available free of charge from any of the authorised distributors of the fund listed in the Comisin Nacional d)Tj
45.9103 0 TD
0 Tw
(el Mercado de Valores \(CNMV\) webpage at )Tj
-45.9103 -1.3125 TD
(www.cnmv.es.)Tj
/F5 1 Tf
0 -19.8125 TD
(Condentiality)Tj
/F1 1 Tf
0 -1.375 TD
-0.025 Tc
(No part of this material may, without GSAMs prior written consent, be \(i\) copied, photocopied or duplicated in any form, by an)Tj
47.036 0 TD
(y means, or \(ii\) distributed to any person that is not an )Tj
-47.036 -1.3125 TD
(employee, ofcer, director, or authorized agent of the recipient.)Tj
0 -1.375 TD
( 2021 Goldman Sachs. All rights reserved.)Tj
T*
(Registered and Principal Ofces:)Tj
/F5 1 Tf
12.309 0 TD
-0.0313 Tc
( Luxembourg domiciled Funds Registered Ofce:)Tj
/F1 1 Tf
18.1468 0 TD
-0.025 Tc
( c/o State Street Bank International GmbH, Luxembourg Branch, 49, Avenue J-F Kennedy L-1855, )Tj
-30.4558 -1.3125 TD
(Luxembourg)Tj
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