AN
INVESTMENT IN A FUND IS NOT A BANK DEPOSIT AND IS NOT INSURED BY THE
FEDERAL DEPOSIT
INSURANCE
CORPORATION OR ANY OTHER GOVERNMENT AGENCY. AN INVESTMENT IN A FUND
INVOLVES
INVESTMENT
RISKS, AND YOU MAY LOSE MONEY IN A
FUND. |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Total
Annual Fund Operating Expenses |
|
Fee
Waiver and Expense Limitation1 |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
|
|
Returns
After Taxes on Distributions |
- |
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
ICE
BofAML One-Year U.S. Treasury Note Index (reflects no deduction for fees
or expenses) |
- |
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Total
Annual Fund Operating Expenses |
|
Fee
Waiver and Expense Limitation1 |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
- |
|
Returns
After Taxes on Distributions |
- |
- |
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
- |
|
Bloomberg
U.S. Government/Mortgage Index (reflects no deduction for fees or
expenses) |
- |
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Total
Annual Fund Operating Expenses |
|
Fee
Waiver and Expense Limitation1 |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
|
|
Returns
After Taxes on Distributions |
- |
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg
U.S. TIPS Index (reflects no deduction for fees or
expenses) |
- |
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Total
Annual Fund Operating Expenses |
|
Fee
Waiver and Expense Limitation1 |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
|
|
Returns
After Taxes on Distributions |
- |
- |
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
ICE
BofAML Two-Year U.S.Treasury Note Index (reflects no deduction for fees or
expenses) |
- |
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses1 |
|
Acquired
Fund Fees and Expenses2 |
|
Total
Annual Fund Operating Expenses |
|
Fee
Waiver and Expense Limitation3 |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
|
|
Returns
After Taxes on Distributions |
- |
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg
U.S. 1-3 Year Corporate Bond Index (reflects no deduction for fees or
expenses) |
- |
|
|
Bloomberg
U.S. 1-3 Year Government Bond Index (reflects no deduction for fees or
expenses) |
- |
|
|
Goldman
Sachs Short Duration Bond Fund Composite Index |
- |
|
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
|
|
|
Class
P |
Management
Fees |
|
Other
Expenses |
|
Total
Annual Fund Operating Expenses |
|
Fee
Waiver and Expense Limitation1 |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and Expense
Limitation |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
P Shares |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date | |
Class
P Shares |
|
|
|
Returns
Before Taxes |
- |
- |
|
Returns
After Taxes on Distributions |
- |
- |
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
- |
- |
|
Bloomberg
U.S. Securitized Bond Index (reflects no deduction for fees or
expenses) |
- |
- |
|
Portfolio
Management |
Buying
and Selling Fund Shares |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
INVESTMENT
OBJECTIVES |
PRINCIPAL
INVESTMENT STRATEGIES |
ADDITIONAL
FEES AND EXPENSES INFORMATION |
ADDITIONAL
PERFORMANCE INFORMATION |
OTHER
INVESTMENT PRACTICES AND
SECURITIES |
10
Percent of total assets (including securities lending collateral) (italic
type)
10 Percent
of net assets (excluding borrowings for investment purposes) (roman
type)
• No
specific percentage limitation on usage; limited only by the objectives
and strategies of the Fund
— Not
permitted |
Enhanced
Income
Fund |
Government
Value
Fund |
Inflation
Protected
Securities
Fund |
Short
Duration
Government
Fund |
Short
Duration
Bond
Fund |
U.S.
Mortgages
Fund |
Investment
Practices |
|
|
|
|
|
|
Borrowings |
33 1∕3 |
33 1∕3 |
33 1∕3 |
33 1∕3 |
33 1∕3 |
33 1∕3 |
Credit,
Interest Rate and Total Return Swaps (and Options on
Swaps) |
• |
• |
• |
• |
• |
• |
Cross
Hedging of Currencies |
• |
— |
• |
— |
• |
— |
Currency
Swaps |
• |
— |
• |
— |
• |
— |
Custodial
Receipts and Trust Certificates |
• |
• |
• |
• |
• |
• |
Foreign
Currency Transactions |
• |
— |
• |
— |
• |
— |
Futures
Contracts and Options and Swaps on Futures Contracts |
• |
• |
• |
• |
• |
• |
Illiquid
Investments* |
15 |
15 |
15 |
15 |
15 |
15 |
Interest
Rate Floors, Caps and Collars |
• |
• |
• |
• |
• |
• |
Investment
Company Securities (including ETFs)** |
10 |
10 |
10 |
10 |
10 |
10 |
Mortgage
Dollar Rolls |
• |
• |
• |
• |
• |
• |
Mortgage
Swaps |
• |
• |
• |
• |
• |
• |
Options*** |
• |
• |
• |
• |
• |
• |
Options
on Foreign Currencies**** |
• |
— |
• |
— |
• |
— |
Repurchase
Agreements |
• |
• |
• |
• |
• |
• |
Reverse
Repurchase Agreements |
• |
• |
• |
• |
• |
• |
Short
Sales Against the Box ***** |
• |
• |
• |
• |
• |
• |
When-Issued
Securities and Forward Commitments |
• |
• |
• |
• |
• |
• |
10 Percent
of total assets (italic type)
10 Percent
of net assets (including borrowings for investment purposes) (roman
type)
• No
specific percentage limitation on usage; limited only by the objectives
and strategies of the Fund
— Not
permitted |
Enhanced
Income
Fund |
Government
Income
Fund |
Inflation
Protected
Securities
Fund |
Short
Duration
Government
Fund |
Short
Duration
Bond
Fund |
U.S.
Mortgages
Fund |
Investment
Securities |
|
|
|
|
|
|
Asset-Backed
Securities |
• |
• |
• |
•1 |
• |
• |
Bank
Obligations |
• |
• |
• |
— |
• |
• |
Collateralized
Loan Obligations |
• |
— |
• |
— |
• |
• |
Convertible
Securities |
• |
— |
— |
— |
• |
— |
Corporate
Debt Obligations and Trust Preferred Securities |
• |
• |
• |
— |
• |
• |
Emerging
Country Securities |
102 |
— |
• |
— |
203 |
— |
Floating
and Variable Rate Obligations |
• |
• |
• |
• |
• |
• |
Foreign
Securities4 |
• |
— |
• |
— |
• |
• |
Inflation
Protected Securities |
• |
•5 |
80+ |
•5 |
• |
• |
Loan
Participations and Loan Assignments |
— |
— |
— |
— |
• |
— |
Mortgage-Related
Securities |
|
|
|
|
|
|
Adjustable
Rate Mortgage Loans |
• |
• |
• |
• |
• |
• |
Collateralized
Mortgage Obligations |
• |
• |
• |
• |
• |
• |
Fixed
Rate Mortgage Loans |
• |
• |
• |
• |
• |
• |
Government
Issued Mortgage-Backed Securities |
• |
• |
• |
• |
• |
• |
Multiple
Class Mortgage-Backed Securities |
• |
• |
• |
• |
• |
• |
Privately
Issued Mortgage-Backed Securities |
• |
• |
• |
— |
• |
• |
Stripped
Mortgage-Backed Securities |
• |
• |
• |
• |
• |
• |
Non-Investment
Grade Fixed Income Securities |
102 |
— |
• |
— |
203 |
— 7 |
Preferred
Stock, Warrants and Rights |
• |
— |
• |
— |
• |
— |
Structured
Securities (which may include credit linked notes)6 |
• |
• |
• |
• |
• |
• |
Taxable
Municipal Securities |
• |
• |
• |
— |
• |
• |
Tax-Free
Municipal Securities |
• |
• |
• |
— |
• |
• |
Temporary
Investments |
• |
• |
• |
• |
• |
• |
U.S.
Government Securities |
• |
80+ |
• |
80+ |
• |
• |
✓ Principal
Risk
• Additional
Risk |
Enhanced
Income
Fund |
Government
Income
Fund |
Inflation
Protected
Securities
Fund |
Short
Duration
Government
Fund |
Short
Duration
Bond
Fund |
U.S.
Mortgages
Fund |
Call/Prepayment |
✓ |
✓ |
• |
✓ |
✓ |
• |
Collateralized
Loan Obligations and Other Collateralized Debt
Obligations |
✓ |
• |
• |
• |
✓ |
✓ |
Counterparty |
✓ |
• |
• |
• |
✓ |
|
CPIU
Measurement |
|
|
✓ |
|
|
|
Credit/Default |
✓ |
✓ |
✓ |
• |
✓ |
✓ |
Cybersecurity |
• |
• |
• |
• |
• |
• |
Deflation |
|
|
✓ |
|
|
|
Derivatives |
✓ |
✓ |
✓ |
✓ |
✓ |
✓ |
Emerging
Countries |
✓ |
|
• |
|
✓ |
|
ESG
Integration |
• |
• |
• |
• |
• |
• |
Extension |
✓ |
• |
• |
• |
✓ |
• |
Floating
and Variable Rate Obligations |
✓ |
• |
• |
• |
✓ |
• |
Foreign |
✓ |
|
• |
|
✓ |
• |
Inflation
Protected Securities |
• |
• |
✓ |
• |
• |
|
Interest
Rate |
✓ |
✓ |
✓ |
✓ |
✓ |
✓ |
Large
Shareholder Transactions |
✓ |
✓ |
✓ |
✓ |
✓ |
✓ |
Leverage |
• |
• |
• |
• |
• |
• |
Liquidity |
• |
• |
• |
• |
• |
• |
Loan-Related
Investments |
|
|
|
|
✓ |
|
Management |
• |
• |
• |
• |
• |
• |
Market |
✓ |
✓ |
✓ |
✓ |
✓ |
✓ |
Mortgage-Backed
and/or Other Asset-Backed Securities |
✓ |
✓ |
✓ |
✓ |
✓ |
✓ |
Municipal
Securities |
✓ |
|
• |
|
✓ |
• |
NAV |
• |
• |
• |
• |
• |
• |
Non-Hedging
Foreign Currency Trading |
• |
|
• |
|
• |
|
Non-Investment
Grade Fixed Income Securities |
✓ |
|
• |
|
✓ |
|
Other
Investment Companies |
✓ |
✓ |
✓ |
✓ |
✓ |
✓ |
Portfolio
Turnover Rate |
|
✓ |
|
✓ |
|
✓ |
Reverse
Repurchase Agreements |
✓ |
✓ |
• |
✓ |
✓ |
✓ |
Short
Position |
|
|
|
|
|
✓ |
Sovereign
Default |
|
|
|
|
|
|
Economic |
• |
• |
• |
|
• |
|
Political |
• |
• |
• |
|
• |
|
Repayment |
• |
• |
• |
|
• |
|
Tax
Consequences |
|
|
✓ |
|
|
|
U.S.
Government Securities |
✓ |
✓ |
✓ |
✓ |
✓ |
✓ |
INVESTMENT
ADVISER |
Investment
Adviser |
Fund |
Goldman
Sachs Asset Management, L.P.
200
West Street
New
York, NY 10282 |
Enhanced
Income
Government
Income
Inflation
Protected Securities
Short
Duration Government
Short
Duration Bond
U.S.
Mortgages |
MANAGEMENT
FEES AND OTHER EXPENSES |
Fund: |
Management
Fee
Annual
Rate |
Average
Daily
Net
Assets |
Actual
Rate
For
the Fiscal
Year
Ended
March
31, 2023* |
Enhanced
Income |
0.25% |
First $1
Billion |
0.25% |
|
0.23% |
Next $1
Billion |
|
|
0.22% |
Over $2
Billion |
|
Government
Income |
0.53% |
First $1
Billion |
0.47% |
|
0.48% |
Next $1
Billion |
|
|
0.45% |
Next $3
Billion |
|
|
0.44% |
Over $5
Billion |
|
Inflation
Protected Securities |
0.26% |
First $1
Billion |
0.26% |
|
0.23% |
Next $1
Billion |
|
|
0.22% |
Next $6
Billion |
|
|
0.21% |
Over $8
Billion |
|
Short
Duration Government |
0.44% |
First $1
Billion |
0.44% |
|
0.40% |
Next $1
Billion |
|
|
0.38% |
Next $3
Billion |
|
|
0.37% |
Next $3
Billion |
|
|
0.36% |
Over $8
Billion |
|
Short
Duration Bond |
0.40% |
First $1
billion |
0.37% |
|
0.36% |
Next $1
billion |
|
|
0.34% |
Next $3
billion |
|
|
0.33% |
Next $3
billion |
|
|
0.32% |
Over $8
billion |
|
U.S.
Mortgages |
0.34% |
First $1
billion |
0.33% |
|
0.31% |
Next $1
billion |
|
|
0.29% |
Next $3
billion |
|
|
0.29% |
Next $3
billion |
|
|
0.28% |
Over $8
billion |
|
FUND
MANAGERS |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible |
Five
Year Employment History |
John
Olivo
Managing
Director,
Global
Head of Short Duration |
Portfolio
Manager—
Enhanced
Income
Short
Duration Government
Short
Duration Bond |
Since
2016
2016
2016 |
Mr.
Olivo is the global head of short duration fixed income
strategies.
Mr. Olivo is a member of the Investment Strategy
Committee.
He joined the Investment Adviser in 1995. |
Peter
Stone
Managing
Director |
Portfolio
Manager—
Government
Income
Inflation
Protected
Securities |
Since
2020
2020 |
Mr.
Stone is the Head of the North American Government
Swaps
Strategy within GSAM. He is also a member of the
Duration
Strategy team. Mr. Stone joined the Investment
Adviser
in 2007. |
Jon
Calluzzo
Vice
President |
Portfolio
Manager—
Government
Income
Inflation
Protected
Securities
U.S.
Mortgages |
Since
2022
2022 |
Mr.
Calluzzo is a portfolio manager on the Fixed Income
team.
He joined the Investment Adviser in 2016 as a
Portfolio
Manager on the Liquidity Solutions Short Duration
team. |
Rob
Pyne
Vice
President |
Portfolio
Manager—
U.S.
Mortgages |
Since
2022 |
Mr.
Pyne is a portfolio manager on the Fixed Income team.
He
joined the Investment Adviser in
2009. |
DISTRIBUTOR
AND TRANSFER AGENT |
ACTIVITIES
OF GOLDMAN SACHS AND ITS AFFILIATES AND OTHER
ACCOUNTS
MANAGED BY GOLDMAN SACHS |
Fund |
Investment
Income Dividends |
Capital
Gains
Distributions | |
Declared |
Paid |
Declared
and Paid | |
Enhanced
Income |
Daily |
Monthly |
Annually |
Government
Income |
Daily |
Monthly |
Annually |
Inflation
Protected Securities |
Quarterly |
Quarterly |
Annually |
Short
Duration Government |
Daily |
Monthly |
Annually |
Short
Duration Bond |
Daily |
Monthly |
Annually |
U.S.
Mortgages |
Daily |
Monthly |
Annually |
Important
Notice: |
Class
P Shares generally are available to the following
investors: |
◼Clients
of the Goldman Sachs Private Wealth Management business unit (“GS PWM”)
that custody their positions at
Goldman
Sachs & Co. LLC (“Goldman Sachs”); |
◼Clients
of The Goldman Sachs Trust Company, N.A. or The Goldman Sachs Trust
Company of Delaware (collectively, the
“Trust
Companies”) that custody their positions at Goldman
Sachs; |
◼Clients
of The Ayco Company, L.P. (“Ayco”) that either custody their positions at
Goldman Sachs or with certain
intermediaries
that are authorized to offer Class P Shares (“Authorized Institutions”)
(such clients of GS PWM, the Trust
Companies,
and Ayco are collectively referred to herein as “GS Clients”);
or |
◼Other
investors at the discretion of Goldman Sachs Trust’s (the “Trust”)
officers. |
You
may only purchase Class P Shares in accordance with the eligibility
criteria described above. If you are a GS Client and
propose
to transfer your shares to another institution for any reason, or if you
are no longer a GS Client, you may be required to
redeem
your shares of the Fund, or at the discretion of the Trust’s officers, you
may be able hold Class P Shares through another
institution,
which must be an Authorized Institution and the basis on which you hold
such Class P Shares may be limited to hold
and
redeem only. If available in such circumstances, in the alternative you
may be able to choose to exchange your shares of the
Fund
for a different share class offered by the Fund or another Goldman Sachs
Fund, which may be offered in another
Prospectus.
There is no guarantee that a different share class offered by the Fund
will be available to clients of the institution to
which
you intend to transfer your shares or that an option to exchange will be
made available. Moreover, the shares you receive
in
any exchange are subject to different (and possibly higher) fees and
expenses (which affect performance). Information
regarding
these other share classes may be obtained from the institution to which
you intend to transfer your shares or from the
Transfer
Agent by calling the number on the back cover of the
Prospectus. |
A
redemption is a taxable transaction for federal income tax purposes, and
may also be subject to state and local taxes. You
should
consult your tax adviser concerning the potential tax consequences of
investing in Class P Shares. None of the Trust, the
Investment
Adviser, Goldman Sachs, the Trust Companies, Ayco or an Authorized
Institution will be responsible for any loss in
an
investor’s account or tax liability resulting from a redemption or
exchange of Class P Shares. For more information about
exchanges,
please see “How to Sell Shares—Can I Exchange My Investment From One
Goldman Sachs Fund To Another
Goldman
Sachs Fund.” |
How
To Buy Shares |
NAV
= |
(Value
of Assets of the Class)
–
(Liabilities of the Class) |
|
Number
of Outstanding Shares of the
Class |
How
To Sell Shares |
Shareholder
Services |
Restrictions
on Excessive Trading
Practices |
DISTRIBUTIONS |
SALES
AND EXCHANGES |
OTHER
INFORMATION |
A. General
Fund Risks |
B.
Other Fund Risks |
C.
Fund Securities and
Techniques |
|
Goldman
Sachs Enhanced Income Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$9.36 |
$9.55 |
$9.21 |
$9.43 |
$9.41 | |||||
Net
investment income(b) |
0.18 |
0.07 |
0.12 |
0.22 |
0.21 | |||||
Net
realized and unrealized gain (loss) |
(0.05
) |
(0.18
) |
0.35 |
(0.22
) |
0.01 | |||||
Total
from investment operations |
0.13 |
(0.11
) |
0.47 |
— |
0.22 | |||||
Distributions
to shareholders from net investment income |
(0.19
) |
(0.08
) |
(0.13
) |
(0.22
) |
(0.20
) | |||||
Distributions
to shareholders from net realized gains |
(0.05
) |
— |
— |
— |
— | |||||
Distributions
to shareholders from return of capital |
(0.01
) |
— |
— |
— |
— | |||||
Total
distributions |
(0.25
) |
(0.08
) |
(0.13
) |
(0.22
) |
(0.20
) | |||||
Net
asset value, end of period |
$9.24 |
$9.36 |
$9.55 |
$9.21 |
$9.43 | |||||
Total
return(c) |
1.38
% |
(1.25
)% |
5.19
% |
(0.16
)% |
2.36
% | |||||
Net
assets, end of period (in 000s) |
$337,021 |
$593,178 |
$294,205 |
$152,713 |
$189,835 | |||||
Ratio
of net expenses to average net assets |
0.34
% |
0.33
% |
0.33
% |
0.34
% |
0.34
%(d) | |||||
Ratio
of total expenses to average net assets |
0.37
% |
0.34
% |
0.37
% |
0.38
% |
0.38
%(d) | |||||
Ratio
of net investment income to average net assets |
1.97
% |
0.71
% |
1.23
% |
2.31
% |
2.33
%(d) | |||||
Portfolio
turnover rate(e) |
25
% |
17
% |
58
% |
53
% |
42
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(d) |
Annualized. |
(e) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Government Income Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$14.07 |
$15.11 |
$15.54 |
$14.55 |
$14.24 | |||||
Net
investment income(b) |
0.25 |
0.10 |
0.12 |
0.27 |
0.32 | |||||
Net
realized and unrealized gain (loss) |
(0.97
) |
(0.76
) |
(0.35
) |
1.07 |
0.32 | |||||
Total
from investment operations |
(0.72
) |
(0.66
) |
(0.23
) |
1.34 |
0.64 | |||||
Distributions
to shareholders from net investment income |
(0.26
) |
(0.17
) |
(0.20
) |
(0.35
) |
(0.33
) | |||||
Distributions
to shareholders from net realized gains |
— |
(0.21
) |
— |
— |
— | |||||
Total
distributions |
(0.26
) |
(0.38
) |
(0.20
) |
(0.35
) |
(0.33
) | |||||
Net
asset value, end of period |
$13.09 |
$14.07 |
$15.11 |
$15.54 |
$14.55 | |||||
Total
return(c) |
(5.09
)% |
(4.46
)% |
(1.42
)% |
9.20
% |
4.55
% | |||||
Net
assets, end of period (in 000s) |
$8,092 |
$9,106 |
$13,725 |
$14,227 |
$10,268 | |||||
Ratio
of net expenses to average net assets |
0.50
% |
0.52
% |
0.51
% |
0.56
% |
0.56
%(d) | |||||
Ratio
of total expenses to average net assets |
0.78
% |
0.75
% |
0.72
% |
0.74
% |
0.77
%(d) | |||||
Ratio
of net investment income to average net assets |
1.86
% |
0.66
% |
0.75
% |
1.83
% |
2.35
%(d) | |||||
Portfolio
turnover rate(e) |
709
% |
578
% |
820
% |
943
% |
530
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(d) |
Annualized. |
(e) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Inflation Protected Securities Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$11.31 |
$11.50 |
$10.86 |
$10.49 |
$10.40 | |||||
Net
investment income(b) |
0.58 |
0.60 |
0.16 |
0.32 |
0.09 | |||||
Net
realized and unrealized gain (loss) |
(1.29
) |
(0.13
) |
0.61 |
0.34 |
0.19 | |||||
Total
from investment operations |
(0.71
) |
0.47 |
0.77 |
0.66 |
0.28 | |||||
Distributions
to shareholders from net investment income |
(0.61
) |
(0.56
) |
(0.13
) |
(0.29
) |
(0.19
) | |||||
Distributions
to shareholders from net realized gains |
(0.03
) |
(0.10
) |
— |
— |
— | |||||
Total
distributions |
(0.64
) |
(0.66
) |
(0.13
) |
(0.29
) |
(0.19
) | |||||
Net
asset value, end of period |
$9.96 |
$11.31 |
$11.50 |
$10.86 |
$10.49 | |||||
Total
return(c) |
(6.11
)% |
4.05
% |
7.07
% |
6.38
% |
2.77
% | |||||
Net
assets, end of period (in 000s) |
$26,552 |
$35,167 |
$49,767 |
$30,975 |
$107,844 | |||||
Ratio
of net expenses to average net assets |
0.33
% |
0.33
% |
0.33
% |
0.34
% |
0.33
%(d) | |||||
Ratio
of total expenses to average net assets |
0.40
% |
0.37
% |
0.40
% |
0.40
% |
0.43
%(d) | |||||
Ratio
of net investment income to average net assets |
5.69
% |
5.15
% |
1.36
% |
3.01
% |
0.91
%(d) | |||||
Portfolio
turnover rate(e) |
38
% |
62
% |
51
% |
62
% |
160
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(d) |
Annualized. |
(e) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Short Duration Government Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$9.49 |
$9.96 |
$9.93 |
$9.73 |
$9.73 | |||||
Net
investment income(b) |
0.17 |
—
(c) |
0.05 |
0.17 |
0.20 | |||||
Net
realized and unrealized gain (loss) |
(0.26
) |
(0.40
) |
0.10 |
0.27 |
0.03 | |||||
Total
from investment operations |
(0.09
) |
(0.40
) |
0.15 |
0.44 |
0.23 | |||||
Distributions
to shareholders from net investment income |
(0.18
) |
(0.07
) |
(0.12
) |
(0.24
) |
(0.23
) | |||||
Net
asset value, end of period |
$9.22 |
$9.49 |
$9.96 |
$9.93 |
$9.73 | |||||
Total
return(d) |
(0.89
)% |
(4.08
)% |
1.52
% |
4.53
% |
2.39
% | |||||
Net
assets, end of period (in 000s) |
$178,078 |
$246,221 |
$337,747 |
$337,805 |
$474,894 | |||||
Ratio
of net expenses to average net assets |
0.47
% |
0.47
% |
0.45
% |
0.48
% |
0.47
%(e) | |||||
Ratio
of total expenses to average net assets |
0.56
% |
0.54
% |
0.53
% |
0.55
% |
0.56
%(e) | |||||
Ratio
of net investment income (loss) to average net
assets |
1.83
% |
(0.03
)% |
0.49
% |
1.72
% |
2.15
%(e) | |||||
Portfolio
turnover rate(f) |
655
% |
466
% |
566
% |
479
% |
247
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Amount
is less than $0.005 per share. |
(d) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(e) |
Annualized. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Short Duration Bond Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$9.74 |
$10.16 |
$9.70 |
$9.82 |
$9.74 | |||||
Net
investment income(b) |
0.22 |
0.09 |
0.16 |
0.25 |
0.25 | |||||
Net
realized and unrealized gain (loss) |
(0.26
) |
(0.37
) |
0.52 |
(0.08
) |
0.09 | |||||
Total
from investment operations |
(0.04
) |
(0.28
) |
0.68 |
0.17 |
0.34 | |||||
Distributions
to shareholders from net investment income |
(0.15
) |
(0.09
) |
(0.21
) |
(0.25
) |
(0.24
) | |||||
Distributions
to shareholders from net realized gains |
— |
(0.01
) |
—
(c) |
— |
— | |||||
Distributions
to shareholders from return of capital |
(0.10
) |
(0.04
) |
(0.01
) |
(0.04
) |
(0.02
) | |||||
Total
distributions |
(0.25
) |
(0.14
) |
(0.22
) |
(0.29
) |
(0.26
) | |||||
Net
asset value, end of period |
$9.45 |
$9.74 |
$10.16 |
$9.70 |
$9.82 | |||||
Total
return(d) |
(0.30
)% |
(2.82
)% |
7.00
% |
1.66
% |
3.51
% | |||||
Net
assets, end of period (in 000s) |
$1,104,122 |
$2,148,459 |
$2,080,421 |
$743,258 |
$635,440 | |||||
Ratio
of net expenses to average net assets |
0.42
% |
0.40
% |
0.41
% |
0.44
% |
0.44
%(e) | |||||
Ratio
of total expenses to average net assets |
0.46
% |
0.44
% |
0.46
% |
0.51
% |
0.60
%(e) | |||||
Ratio
of net investment income to average net assets |
2.37
% |
0.94
% |
1.61
% |
2.53
% |
2.72
%(e) | |||||
Portfolio
turnover rate(f) |
181
% |
240
% |
253
% |
192
% |
99
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Amount
is less than $0.005 per share. |
(d) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(e) |
Annualized. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs U.S. Mortgages Fund | |||||||||
|
Class
P Shares | |||||||||
|
Year
Ended March 31, |
Period
Ended
March
31, 2019(a) | ||||||||
|
2023 |
2022 |
2021 |
2020 | ||||||
Per
Share Data |
|
|
|
|
| |||||
Net
asset value, beginning of period |
$9.89 |
$10.58 |
$10.58 |
$10.32 |
$10.16 | |||||
Net
investment income(b) |
0.25 |
0.02 |
0.14 |
0.23 |
0.28 | |||||
Net
realized and unrealized gain (loss) |
(0.80
) |
(0.57
) |
0.17 |
0.36 |
0.18 | |||||
Total
from investment operations |
(0.55
) |
(0.55
) |
0.31 |
0.59 |
0.46 | |||||
Distributions
to shareholders from net investment income |
(0.27
) |
(0.13
) |
(0.31
) |
(0.32
) |
(0.30
) | |||||
Distributions
to shareholders from return of capital |
— |
(0.01
) |
— |
(0.01
) |
— | |||||
Total
distributions |
(0.27
) |
(0.14
) |
(0.31
) |
(0.33
) |
(0.30
) | |||||
Net
asset value, end of period |
$9.07 |
$9.89 |
$10.58 |
$10.58 |
$10.32 | |||||
Total
return(c) |
(5.50
)% |
(5.23
)% |
2.89
% |
5.77
% |
4.57
% | |||||
Net
assets, end of period (in 000s) |
$6,959 |
$4,471 |
$12,382 |
$4,971 |
$8,575 | |||||
Ratio
of net expenses to average net assets |
0.44
% |
0.43
% |
0.44
% |
0.44
% |
0.44
%(d) | |||||
Ratio
of total expenses to average net assets |
0.55
% |
0.50
% |
0.46
% |
0.49
% |
0.52
%(d) | |||||
Ratio
of net investment income to average net assets |
2.78
% |
0.17
% |
1.30
% |
2.17
% |
2.89
%(d) | |||||
Portfolio
turnover rate(e) |
1,386
% |
1,242
% |
1,027
% |
1,233
% |
963
% |
(a) |
Commenced
operations on April 20, 2018. |
(b) |
Calculated
based on the average shares outstanding
methodology. |
(c) |
Assumes
investment at the NAV at the beginning of the period, reinvestment of all
dividends and distributions, a complete redemption of the investment at
the
NAV
at the end of the period and no sales or redemption charges (if any).
Total returns would be reduced if a sales or redemption charge was taken
into
account.
Returns do not reflect the impact of taxes to shareholders relating to
Fund distributions or the redemption of Fund shares. Total returns for
periods
less
than one full year are not annualized. |
(d) |
Annualized. |
(e) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short term
investments
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
FOR
MORE INFORMATION |
|
|
|
◼ By
telephone: |
1-800-621-2550 |
|
◼ By
mail: |
Goldman
Sachs Funds
71
South Wacker Drive, Suite 1200
Chicago,
IL 60606 |
|
◼ On
the Internet: |
SEC
EDGAR database – http://www.sec.gov |
|