AN
INVESTMENT IN THE FUND IS NOT A BANK DEPOSIT AND IS NOT INSURED BY THE
FEDERAL DEPOSIT
INSURANCE
CORPORATION OR ANY OTHER GOVERNMENT AGENCY. AN INVESTMENT IN THE FUND
INVOLVES
INVESTMENT RISKS, AND YOU MAY LOSE MONEY IN THE
FUND. |
|
|
|
Class
A |
Class
C |
Institutional |
Investor |
Class
R |
Class
R6 |
Maximum
Sales Charge (Load) Imposed on Purchases (as a
percentage
of offering price) |
|
|
|
|
|
|
Maximum
Deferred Sales Charge (Load) (as a percentage of the
lower
of original purchase price or sale proceeds)1
|
|
|
|
|
|
|
|
Class
A |
Class
C |
Institutional |
Investor |
Class
R |
Class
R6 |
Management
Fees |
|
|
|
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
|
|
|
|
Other
Expenses |
|
|
|
|
|
|
Service
Fees |
|
|
|
|
|
|
Total
Annual Fund Operating Expenses |
|
|
|
|
|
|
Fee
Waiver and Expense Limitation2 |
( |
( |
( |
( |
( |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and
Expense
Limitation |
|
|
|
|
|
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
$ |
$ |
$ |
$ |
Institutional
Shares |
$ |
$ |
$ |
$ |
Investor
Shares |
$ |
$ |
$ |
$ |
Class
R Shares |
$ |
$ |
$ |
$ |
Class
R6 Shares |
$ |
$ |
$ |
$ |
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years |
Since
Inception |
Inception
Date | |
Class
A Shares |
|
|
|
|
Returns
Before Taxes |
|
|
|
|
Returns
After Taxes on Distributions |
|
|
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Class
C Shares |
|
|
|
|
Returns
Before Taxes |
|
|
|
|
Institutional
Shares |
|
|
|
|
Returns
Before Taxes |
|
|
|
|
Investor
Shares |
|
|
|
|
Returns
Before Taxes |
|
|
|
|
Class
R Shares |
|
|
|
|
Returns |
|
|
|
|
Class
R6 Shares |
|
|
|
|
Returns
Before Taxes |
|
|
|
|
MSCI
ACWI ex USA Index (net, unhedged) (reflects no deduction for fees or
expenses) |
|
|
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
INVESTMENT
OBJECTIVE |
PRINCIPAL
INVESTMENT STRATEGIES |
ADDITIONAL
FEES AND EXPENSES INFORMATION |
ADDITIONAL
PERFORMANCE INFORMATION |
OTHER
INVESTMENT PRACTICES AND
SECURITIES |
10
Percent of total assets (including securities lending collateral) (italic
type)
10 Percent
of net assets (excluding borrowings for investment purposes) (roman
type)
• No
specific percentage limitation on usage; limited only by the objective and
strategies of the Fund |
Goldman
Sachs GQG Partners
International
Opportunities
Fund |
Investment
Practices |
|
Borrowings |
33 1∕3 |
Currency,
Equity, Index and Total Return Swaps |
• |
Cross
Hedging of Currencies |
• |
Custodial
Receipts and Trust Certificates |
• |
Foreign
Currency Transactions (including forward contracts) |
• |
Futures
Contracts and Options and Swaps on Futures Contracts |
• |
Illiquid
Investments* |
15 |
Interest
Rate Caps, Floors and Collars |
• |
Investment
Company Securities (including ETFs)**
|
10 |
Initial
Public Offering (“IPO”) |
• |
Options
on Foreign Currencies1
|
• |
Options
on Securities and Securities Indices2
|
• |
Options
on Futures |
• |
Preferred
Stock |
• |
Repurchase
Agreements |
• |
Reverse
Repurchase Agreements (for investment purposes) |
• |
Securities
Lending |
33 1∕3 |
Short
Sales |
• |
Short
Sales Against the Box |
• |
Unseasoned
Companies |
• |
Warrants
and Stock Purchase Rights |
• |
When-Issued
Securities and Forward Commitments |
• |
10 Percent
of Total Assets (italic type)
10 10
Percent of Net Assets (including borrowings for investment purposes)
(roman type)
• No
specific percentage limitation on usage; limited only by the objective and
strategies of the Fund |
Goldman
Sachs GQG Partners
International
Opportunities
Fund |
Investment
Securities |
|
American,
European and Global Depository Receipts |
• |
Asset-Backed
and Mortgage-Backed Securities |
• |
Bank
Obligations1
|
• |
Convertible
Securities |
• |
Corporate
Debt Obligations |
• |
Emerging
Country Securities |
• |
Equity
Investments |
• |
Fixed
Income Securities |
• |
Foreign
Government Securities |
• |
Foreign
Securities |
• |
Participation
Notes |
• |
Preferred
Stock, Warrants and Stock Purchase Rights |
• |
Temporary
Investments |
• |
Real
Estate Investment Trusts |
• |
Structured
Securities |
• |
U.S.
Government Securities |
• |
✓ Principal
Risk
• Additional
Risk |
Goldman
Sachs
GQG
Partners
International
Opportunities
Fund |
Absence
of Regulation |
• |
Call/Prepayment |
• |
Commodity
Sector |
• |
Counterparty |
• |
Credit/Default |
• |
Cybersecurity |
• |
Depositary
Receipts |
✓ |
Derivatives |
• |
Emerging
Countries |
✓ |
Expenses |
• |
Foreign |
✓ |
Geographic |
✓ |
Initial
Public Offering (“IPO”) |
✓ |
Investing
Through Stock Connect |
✓ |
Investment
Style |
✓ |
Large
Shareholder Transactions |
✓ |
Leverage |
• |
Liquidity |
• |
Management |
✓ |
Market |
✓ |
Mid-Cap
and Small-Cap |
✓ |
Mortgage-Backed
and Other Asset-Backed Securities |
• |
NAV |
• |
Non-Hedging
Foreign Currency Trading |
• |
Non-Investment
Grade Fixed Income Securities |
• |
Other
Investment Companies |
✓ |
Participation
Notes |
✓ |
Portfolio
Turnover Rate |
✓ |
Publicly
Trade Partnerships (“PTP”) |
• |
REIT |
• |
Short
Selling |
• |
Sovereign
Default |
|
Economic |
• |
Political |
• |
Repayment |
• |
Stock |
✓ |
Swaps |
• |
U.S.
Government Securities |
• |
INVESTMENT
ADVISER |
Investment
Adviser |
Fund |
Goldman
Sachs Asset Management, L.P. (“GSAM”)
200
West Street
New
York, NY 10282 |
Goldman
Sachs GQG Partners
International
Opportunities Fund |
INVESTMENT
SUBADVISER |
MANAGEMENT
FEES AND OTHER EXPENSES |
Fund |
Contractual
Management
Fee
Annual
Rate |
Average
Daily
Net
Assets |
Actual
Rate
For
the Fiscal
Year
Ended
October
31, 2023* |
GQG
Partners International Opportunities Fund |
0.85% |
First $1
Billion |
0.71% |
|
0.77% |
Next $1
Billion |
|
|
0.73% |
Next $3
Billion |
|
|
0.71% |
Next $3
Billion |
|
|
0.70% |
Over $8
Billion |
|
FUND
MANAGERS |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible |
Five
Year Employment History |
Rajiv
Jain
Chairman
and Chief Investment
Officer,
GQG
Partners LLC |
Portfolio
Manager—GQG
Partners
International
Opportunities
Fund |
Since
2016 |
Mr.
Jain is the Chairman, Chief Investment Officer and Portfolio
Manager
of GQG Partners. Mr. Jain joined GQG Partners in June
2016.
Previously, Mr. Jain served as a Co-Chief Executive Officer
(from
July 2014) and Chief Investment Officer and Head Of Equities
(from
February 2002) at Vontobel Asset Management, Inc. |
Brian
Kersmanc
Portfolio
Manager and Senior
Investment
Analyst, GQG Partners
LLC |
Portfolio
Manager—GQG
Partners
International
Opportunities
Fund |
Since
2019 |
Mr.
Kersmanc has been a Senior Investment Analyst at GQG
Partners
since he joined the firm in 2016 and has served as Portfolio
Manager
of the Fund since June 2022. From 2019-June 2022,
Mr.
Kersmanc was a deputy portfolio manager of the Fund. Prior to
joining
GQG Partners in 2016, Mr. Kersmanc spent six years, from
2010
to 2016, in various roles at Jennison Associates. |
Sudarshan
Murthy, CFA
Portfolio
Manager and Senior
Investment
Analyst, GQG Partners
LLC |
Portfolio
Manager—GQG
Partners
International
Opportunities
Fund |
Since
2022 |
Mr.
Murthy has been a Senior Investment Analyst at GQG Partners
since
he joined the firm in 2016 and has served as Portfolio
Manager
of the Fund since June 2022. Mr. Murthy was an analyst
with
Matthews International Capital from 2011 to 2016 and a
sell-side
research associate at Sanford C. Bernstein from 2010 to
2011. |
Siddharth
Jain
Deputy
Portfolio Manager, GQG
Partners
LLC |
Deputy
Portfolio
Manager—GQG
Partners
International
Opportunities
Fund |
Since
2024 |
Mr.
Jain is an Investment Analyst with GQG Partners. Prior to joining
the
firm in 2021, he was at Warburg Pincus, where he served most
recently
as a private equity associate in their industrial and business
services
group. Mr. Jain began his career as an investment banking
analyst
with the mergers and acquisition group at PJT Partners in
2018. |
DISTRIBUTOR
AND TRANSFER AGENT |
ACTIVITIES
OF GOLDMAN SACHS AND ITS AFFILIATES AND OTHER
ACCOUNTS
MANAGED BY GOLDMAN SACHS |
How
To Buy Shares |
|
Initial |
Additional* |
Regular
Accounts |
$1,000 |
$50 |
Employee
Benefit Plans |
No
Minimum |
No
Minimum |
Uniform
Gift/Transfer to Minors Accounts (UGMA/UTMA) |
$250 |
$50 |
Individual
Retirement Accounts and Coverdell ESAs |
$250 |
$50 |
Automatic
Investment Plan Accounts |
$250 |
$50 |
NAV
= |
(Value
of Assets of the Class)
–
(Liabilities of the Class) |
|
Number
of Outstanding Shares of the
Class |
Common
Questions Applicable to the Purchase of
Class
A Shares |
Amount
of Purchase
(including
sales charge, if any) |
Sales
Charge as
Percentage
of
Offering
Price |
Sales
Charge
as
Percentage
of
Net Amount
Invested |
Maximum
Dealer
Allowance
as
Percentage
of
Offering
Price* |
Less
than $50,000 |
5.50% |
5.82% |
5.00% |
$50,000
up to (but less than) $100,000 |
4.75 |
4.99 |
4.00 |
$100,000
up to (but less than) $250,000 |
3.75 |
3.90 |
3.00 |
$250,000
up to (but less than) $500,000 |
2.75 |
2.83 |
2.25 |
$500,000
up to (but less than) $1 million |
2.00 |
2.04 |
1.75 |
$1
million or more |
0.00** |
0.00** |
*** |
Common
Questions Applicable to the Purchase Of Class C
Shares |
Common
Questions Applicable to the Purchase Of
Class
A and C Shares |
How
To Sell Shares |
Shareholder
Services |
Distribution
and Service Fees |
Class
C Personal And Account Maintenance
Services
And Fees |
Restrictions
on Excessive Trading
Practices |
DISTRIBUTIONS |
SALES |
OTHER
INFORMATION |
A. General
Portfolio Risks |
B. Other
Portfolio Risks |
C. Portfolio
Securities and Techniques |
|
Goldman
Sachs GQG Partners International Opportunities
Fund | |||||||||
|
Class
A Shares | |||||||||
|
Year
Ended October 31, | |||||||||
|
2023 |
2022 |
2021 |
2020 |
2019 | |||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of year |
$16.07 |
$20.36 |
$16.44 |
$14.78 |
$12.32 | |||||
Net
investment income(a) |
0.57 |
0.75 |
0.28 |
0.04 |
0.10 | |||||
Net
realized and unrealized gain (loss) |
1.62 |
(4.67
) |
3.64 |
1.68 |
2.38 | |||||
Total
from investment operations |
2.19 |
(3.92
) |
3.92 |
1.72 |
2.48 | |||||
Distributions
to shareholders from net investment income |
(0.74
) |
(0.37
) |
— |
(0.06
) |
(0.02
) | |||||
Net
asset value, end of year |
$17.52 |
$16.07 |
$20.36 |
$16.44 |
$14.78 | |||||
Total
return(b) |
13.91
% |
(19.55
)% |
23.84
% |
11.66
% |
20.19
% | |||||
Net
assets, end of year (in 000s) |
$401,254 |
$417,464 |
$479,794 |
$252,603 |
$89,592 | |||||
Ratio
of net expenses to average net assets |
1.13
% |
1.14
% |
1.15
% |
1.17
% |
1.23
% | |||||
Ratio
of total expenses to average net assets |
1.16
% |
1.17
% |
1.19
% |
1.20
% |
1.29
% | |||||
Ratio
of net investment income to average net assets |
3.26
% |
4.17
% |
1.47
% |
0.23
% |
0.71
% | |||||
Portfolio
turnover rate(c) |
62
% |
137
% |
94
% |
72
% |
55
% |
(a) |
Calculated
based on the average shares outstanding methodology.
|
(b) |
Assumes
investment at the NAV at the beginning of the year, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the year and no sales or redemption charges (if any). Total
returns would be reduced if a sales or redemption charge was taken into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund
shares. |
(c) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments.
If
such transactions were included, the Fund's portfolio turnover rate may be
higher. |
|
Goldman
Sachs GQG Partners International Opportunities
Fund | |||||||||
|
Class
C Shares | |||||||||
|
Year
Ended October 31, | |||||||||
|
2023 |
2022 |
2021 |
2020 |
2019 | |||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of year |
$15.58 |
$19.76 |
$16.08 |
$14.50 |
$12.16 | |||||
Net
investment income (loss)(a) |
0.42 |
0.59 |
0.13 |
(0.08
) |
—
(b) | |||||
Net
realized and unrealized gain (loss) |
1.58 |
(4.53
) |
3.55 |
1.66 |
2.34 | |||||
Total
from investment operations |
2.00 |
(3.94
) |
3.68 |
1.58 |
2.34 | |||||
Distributions
to shareholders from net investment income |
(0.62
) |
(0.24
) |
— |
— |
— | |||||
Net
asset value, end of year |
$16.96 |
$15.58 |
$19.76 |
$16.08 |
$14.50 | |||||
Total
return(c) |
13.06
% |
(20.12
)% |
22.82
% |
10.87
% |
19.24
% | |||||
Net
assets, end of year (in 000s) |
$93,751 |
$78,662 |
$97,057 |
$61,784 |
$32,620 | |||||
Ratio
of net expenses to average net assets |
1.88
% |
1.89
% |
1.90
% |
1.92
% |
1.98
% | |||||
Ratio
of total expenses to average net assets |
1.91
% |
1.92
% |
1.94
% |
1.95
% |
2.04
% | |||||
Ratio
of net investment income (loss) to average net
assets |
2.48
% |
3.36
% |
0.69
% |
(0.51
)% |
(0.02
)% | |||||
Portfolio
turnover rate(d) |
62
% |
137
% |
94
% |
72
% |
55
% |
(a) |
Calculated
based on the average shares outstanding methodology.
|
(b) |
Amount
is less than $0.005 per share. |
(c) |
Assumes
investment at the NAV at the beginning of the year, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the year and no sales or redemption charges (if any). Total
returns would be reduced if a sales or redemption charge was taken into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund
shares. |
(d) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments.
If
such transactions were included, the Fund's portfolio turnover rate may be
higher. |
|
Goldman
Sachs GQG Partners International Opportunities
Fund | |||||||||
|
Institutional
Shares | |||||||||
|
Year
Ended October 31, | |||||||||
|
2023 |
2022 |
2021 |
2020 |
2019 | |||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of year |
$16.23 |
$20.55 |
$16.56 |
$14.87 |
$12.39 | |||||
Net
investment income(a) |
0.63 |
0.82 |
0.35 |
0.09 |
0.15 | |||||
Net
realized and unrealized gain (loss) |
1.64 |
(4.70
) |
3.67 |
1.70 |
2.39 | |||||
Total
from investment operations |
2.27 |
(3.88
) |
4.02 |
1.79 |
2.54 | |||||
Distributions
to shareholders from net investment income |
(0.81
) |
(0.44
) |
(0.03
) |
(0.10
) |
(0.06
) | |||||
Net
asset value, end of year |
$17.69 |
$16.23 |
$20.55 |
$16.56 |
$14.87 | |||||
Total
return(b) |
14.34
% |
(19.23
)% |
24.31
% |
12.06
% |
20.65
% | |||||
Net
assets, end of year (in 000s) |
$18,487,029 |
$14,193,048 |
$14,481,792 |
$8,683,860 |
$1,996,934 | |||||
Ratio
of net expenses to average net assets |
0.77
% |
0.76
% |
0.77
% |
0.79
% |
0.84
% | |||||
Ratio
of total expenses to average net assets |
0.79
% |
0.79
% |
0.81
% |
0.82
% |
0.90
% | |||||
Ratio
of net investment income to average net assets |
3.58
% |
4.54
% |
1.83
% |
0.55
% |
1.10
% | |||||
Portfolio
turnover rate(c) |
62
% |
137
% |
94
% |
72
% |
55
% |
(a) |
Calculated
based on the average shares outstanding methodology.
|
(b) |
Assumes
investment at the NAV at the beginning of the year, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the year and no sales or redemption charges (if any). Total
returns would be reduced if a sales or redemption charge was taken into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund
shares. |
(c) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments.
If
such transactions were included, the Fund's portfolio turnover rate may be
higher. |
|
Goldman
Sachs GQG Partners International Opportunities
Fund | |||||||||
|
Investor
Shares | |||||||||
|
Year
Ended October 31, | |||||||||
|
2023 |
2022 |
2021 |
2020 |
2019 | |||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of year |
$16.16 |
$20.47 |
$16.51 |
$14.82 |
$12.36 | |||||
Net
investment income(a) |
0.61 |
0.80 |
0.33 |
0.08 |
0.15 | |||||
Net
realized and unrealized gain (loss) |
1.63 |
(4.69
) |
3.64 |
1.70 |
2.36 | |||||
Total
from investment operations |
2.24 |
(3.89
) |
3.97 |
1.78 |
2.51 | |||||
Distributions
to shareholders from net investment income |
(0.79
) |
(0.42
) |
(0.01
) |
(0.09
) |
(0.05
) | |||||
Net
asset value, end of year |
$17.61 |
$16.16 |
$20.47 |
$16.51 |
$14.82 | |||||
Total
return(b) |
14.21
% |
(19.35
)% |
24.09
% |
12.00
% |
20.42
% | |||||
Net
assets, end of year (in 000s) |
$6,227,601 |
$4,425,913 |
$4,169,364 |
$2,488,875 |
$1,098,284 | |||||
Ratio
of net expenses to average net assets |
0.88
% |
0.89
% |
0.90
% |
0.92
% |
0.98
% | |||||
Ratio
of total expenses to average net assets |
0.91
% |
0.92
% |
0.94
% |
0.95
% |
1.04
% | |||||
Ratio
of net investment income to average net assets |
3.45
% |
4.42
% |
1.70
% |
0.48
% |
1.09
% | |||||
Portfolio
turnover rate(c) |
62
% |
137
% |
94
% |
72
% |
55
% |
(a) |
Calculated
based on the average shares outstanding methodology.
|
(b) |
Assumes
investment at the NAV at the beginning of the year, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the year and no sales or redemption charges (if any). Total
returns would be reduced if a sales or redemption charge was taken into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund
shares. |
(c) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments.
If
such transactions were included, the Fund's portfolio turnover rate may be
higher. |
|
Goldman
Sachs GQG Partners International Opportunities
Fund | |||||||||
|
Class
R Shares | |||||||||
|
Year
Ended October 31, | |||||||||
|
2023 |
2022 |
2021 |
2020 |
2019 | |||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of year |
$15.88 |
$20.11 |
$16.28 |
$14.69 |
$12.26 | |||||
Net
investment income(a) |
0.48 |
0.69 |
0.22 |
0.01 |
0.01 | |||||
Net
realized and unrealized gain (loss) |
1.64 |
(4.61
) |
3.61 |
1.65 |
2.43 | |||||
Total
from investment operations |
2.12 |
(3.92
) |
3.83 |
1.66 |
2.44 | |||||
Distributions
to shareholders from net investment income |
(0.73
) |
(0.31
) |
— |
(0.07
) |
(0.01
) | |||||
Net
asset value, end of year |
$17.27 |
$15.88 |
$20.11 |
$16.28 |
$14.69 | |||||
Total
return(b) |
13.63
% |
(19.73
)% |
23.53
% |
11.32
% |
19.91
% | |||||
Net
assets, end of year (in 000s) |
$3,570 |
$1,215 |
$1,095 |
$735 |
$208 | |||||
Ratio
of net expenses to average net assets |
1.38
% |
1.39
% |
1.40
% |
1.42
% |
1.47
% | |||||
Ratio
of total expenses to average net assets |
1.41
% |
1.42
% |
1.44
% |
1.45
% |
1.54
% | |||||
Ratio
of net investment income to average net assets |
2.74
% |
3.88
% |
1.19
% |
0.07
% |
0.05
% | |||||
Portfolio
turnover rate(c) |
62
% |
137
% |
94
% |
72
% |
55
% |
(a) |
Calculated
based on the average shares outstanding methodology.
|
(b) |
Assumes
investment at the NAV at the beginning of the year, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the year and no sales or redemption charges (if any). Total
returns would be reduced if a sales or redemption charge was taken into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund
shares. |
(c) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments.
If
such transactions were included, the Fund's portfolio turnover rate may be
higher. |
|
Goldman
Sachs GQG Partners International Opportunities
Fund | |||||||||
|
Class
R6 Shares | |||||||||
|
Year
Ended October 31, | |||||||||
|
2023 |
2022 |
2021 |
2020 |
2019 | |||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of year |
$16.23 |
$20.55 |
$16.56 |
$14.87 |
$12.39 | |||||
Net
investment income(a) |
0.62 |
0.83 |
0.38 |
0.07 |
0.05 | |||||
Net
realized and unrealized gain (loss) |
1.65 |
(4.71
) |
3.64 |
1.72 |
2.50 | |||||
Total
from investment operations |
2.27 |
(3.88
) |
4.02 |
1.79 |
2.55 | |||||
Distributions
to shareholders from net investment income |
(0.82
) |
(0.44
) |
(0.03
) |
(0.10
) |
(0.07
) | |||||
Net
asset value, end of year |
$17.68 |
$16.23 |
$20.55 |
$16.56 |
$14.87 | |||||
Total
return(b) |
14.31
% |
(19.17
)% |
24.27
% |
12.09
% |
20.68
% | |||||
Net
assets, end of year (in 000s) |
$1,565,411 |
$1,023,099 |
$757,796 |
$391,507 |
$34,263 | |||||
Ratio
of net expenses to average net assets |
0.75
% |
0.74
% |
0.75
% |
0.77
% |
0.81
% | |||||
Ratio
of total expenses to average net assets |
0.78
% |
0.78
% |
0.80
% |
0.81
% |
0.92
% | |||||
Ratio
of net investment income to average net assets |
3.48
% |
4.63
% |
1.97
% |
0.42
% |
0.34
% | |||||
Portfolio
turnover rate(c) |
62
% |
137
% |
94
% |
72
% |
55
% |
(a) |
Calculated
based on the average shares outstanding methodology.
|
(b) |
Assumes
investment at the NAV at the beginning of the year, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the year and no sales or redemption charges (if any). Total
returns would be reduced if a sales or redemption charge was taken into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund
shares. |
(c) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments.
If
such transactions were included, the Fund's portfolio turnover rate may be
higher. |
MERRILL
LYNCH |
AMERIPRISE
FINANCIAL |
MORGAN
STANLEY WEALTH MANAGEMENT |
RAYMOND
JAMES & ASSOCIATES, INC., RAYMOND JAMES FINANCIAL SERVICES, INC. AND
EACH ENTITY’S AFFILIATES
(“RAYMOND
JAMES”) |
J.P.
MORGAN SECURITIES LLC |
JANNEY
MONTGOMERY SCOTT LLC |
EDWARD
D. JONES & CO., L.P. (“Edward
Jones”) |
OPPENHEIMER
& CO. INC. |
ROBERT
W. BAIRD & CO. (“BAIRD”) |
FOR
MORE INFORMATION |
|
Institutional
& Class R6 |
Class
A, Class C, Investor & Class R |
◼ By
telephone: |
1-800-621-2550 |
1-800-526-7384 |
◼ By
mail: |
Goldman
Sachs Funds
71
South Wacker Drive, Suite 1200
Chicago,
IL 60606 |
Goldman
Sachs Funds
P.O.
Box 219711
Kansas
City, MO 64121 |
◼ On
the Internet: |
SEC
EDGAR database – http://www.sec.gov |
|