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
A |
Class
C |
Institutional |
Investor |
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
R6 |
Management
Fees |
|
|
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
|
|
|
Other
Expenses |
|
|
|
|
|
Service
Fees |
|
|
|
|
|
All
Other Expenses |
|
|
|
|
|
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
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
$ |
$ |
$ |
$ |
Institutional
Shares |
$ |
$ |
$ |
$ |
Investor
Shares |
$ |
$ |
$ |
$ |
Class
R6 Shares |
$ |
$ |
$ |
$ |
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years |
10
Years |
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
R6 Shares |
|
|
|
|
Returns
Before Taxes |
|
|
|
|
Russell
1000®
Value Index (reflects no deduction for fees or
expenses) |
|
|
|
|
ICE
BofAML BB to B U.S. High Yield Constrained Index (reflects no deduction
for fees or expenses) |
|
|
|
|
S&P
500®
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
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 |
|
|
|
|
|
|
All
Other Expenses |
|
|
|
|
|
|
Total
Annual Fund Operating Expenses |
|
|
|
|
|
|
Fee
Waivers and Expense Limitation2
|
( |
( |
( |
( |
( |
( |
Total
Annual Fund Operating Expenses After Fee Waivers 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 |
10
Years |
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 |
|
|
|
|
S&P
500®
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 |
Income
Builder
Fund |
Rising
Dividend
Growth
Fund |
Investment
Practices |
|
|
Borrowings |
33 1∕3 |
33 1∕3 |
Credit,
Currency, Equity, Index, Interest Rate, Total Return and Mortgage Swaps
and Options on 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 (including index
futures) |
• |
• |
Illiquid
Investments* |
15 |
15 |
Initial
Public Offerings (“IPOs”) |
• |
• |
Interest
Rate Caps, Floors and Collars |
• |
— |
Investment
Company Securities (including ETFs)1
|
10 |
10 |
Mortgage
Dollar Rolls |
• |
• |
Options
on Foreign Currencies2
|
• |
• |
Options
on Securities and Securities Indices3
|
• |
• |
Preferred
Stock, Warrants and Stock Purchase Rights |
• |
• |
Repurchase
Agreements |
• |
• |
Reverse
Repurchase Agreements (for investment purposes) |
• |
— |
Securities
Lending |
33 1∕3 |
33 1∕3 |
Short
Sales Against the Box |
25 |
25 |
Unseasoned
Companies |
• |
• |
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 |
Income
Builder
Fund |
Rising
Dividend
Growth
Fund |
Investment
Securities |
|
|
American,
European and Global Depositary Receipts |
• |
• |
Asset-Backed
and Mortgage-Backed Securities4
|
• |
• |
Bank
Obligations5
|
• |
• |
Collateralized
Loan Obligations |
• |
— |
Convertible
Securities6
|
• |
• |
Corporate
Debt Obligations4
|
• |
• |
Equity
Investments |
25-55 |
80+ |
Emerging
Country Securities |
• |
• |
Fixed
Income Securities |
45-75 |
20 |
Floating
and Variable Rate Obligations |
• |
— |
Foreign
Government Securities4
|
•6
|
• |
Foreign
Securities |
• |
• |
Loan
Participations and Loan Assignments |
• |
— |
Master
Limited Partnerships (“MLPs”) |
• |
20 |
Municipal
Securities4
|
• |
— |
Non-Investment
Grade Fixed Income Securities4,7
|
•6 |
20 |
Preferred
Stock, Warrants and Rights |
• |
— |
Real
Estate Investment Trusts (“REITs”) |
• |
• |
Second
Lien Loans |
• |
— |
Senior
Loans |
• |
— |
Structured
Securities (which may include equity or credit linked
notes) |
• |
• |
Temporary
Investments |
• |
• |
U.S.
Government Securities4
|
• |
• |
Yield
Curve Options and Inverse Floating Rate Securities |
• |
— |
✓ Principal
Risk
• Additional
Risk |
Income
Builder
Fund |
Rising
Dividend
Growth
Fund |
Call/Prepayment |
• |
• |
Contingent
Convertible Instruments |
• |
|
Credit/Default |
✓ |
✓ |
Cybersecurity |
• |
• |
Depositary
Receipts |
• |
|
Derivatives |
✓ |
• |
Dividend-Paying
Investments Risk |
✓ |
✓ |
Emerging
Countries
|
✓ |
✓ |
Energy
Sector |
• |
✓ |
ESG
Integration |
• |
|
Extension |
• |
• |
Floating
and Variable Rate Obligations |
• |
|
Foreign |
✓ |
✓ |
Foreign
Custody |
• |
|
Geographic |
• |
• |
Infrastructure
risk |
|
✓ |
Interest
Rate |
✓ |
✓ |
Investment
Style |
✓ |
✓ |
IPO |
• |
• |
Large
Shareholder Transactions |
✓ |
✓ |
Liquidity
|
• |
• |
Loan-Related
Investments |
✓ |
|
Management |
✓ |
✓
|
Market |
✓ |
✓ |
Master
Limited Partnership |
✓ |
✓
|
Mid-Cap
and Small-Cap |
• |
✓ |
Mortgage-Backed
and Other Asset-Backed Securities |
• |
• |
NAV |
• |
• |
Non-Hedging
Foreign Currency Trading |
• |
• |
Non-Investment
Grade Fixed Income Securities |
✓ |
• |
Option
Writing Risk |
✓ |
|
Other
Investments |
✓ |
✓ |
REIT |
✓ |
✓ |
Sovereign
Default |
• |
• |
Stock |
✓ |
✓ |
Swaps
Risk |
• |
|
Tax |
|
✓ |
U.S.
Government Securities |
• |
• |
INVESTMENT
ADVISER |
Investment
Adviser |
Fund |
Goldman
Sachs Asset Management, L.P. (“GSAM”)
200
West Street
New
York, NY 10282 |
Income
Builder
Rising
Dividend Growth |
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* |
Income
Builder |
0.54%
|
First
$1 Billion
|
0.42% |
|
0.49%
|
Next
$1 Billion |
|
|
0.46%
|
Next
$3 Billion |
|
|
0.45%
|
Next
$3 Billion |
|
|
0.44% |
Over
$8 Billion |
|
Rising
Dividend Growth
|
0.75%
|
First
$1 Billion
|
0.65% |
|
0.68%
|
Next
$1 Billion |
|
|
0.64%
|
Next
$3 Billion |
|
|
0.63%
|
Next
$3 Billion
|
|
|
0.62%
|
Over
$8 Billion |
|
FUND
MANAGERS |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible
|
Five
Year Employment History |
Kevin
Martens
Vice
President |
Portfolio
Manager—
Income
Builder Fund
|
Since
2022 |
Mr.
Martens joined the Investment Adviser in 2015. He is a portfolio
manager
on the Fundamental Equity U.S. Equity Team.
|
Charles
“Brook” Dane
Managing
Director |
Portfolio
Manager—
Income
Builder Fund
(Value
Equity) |
Since
2016 |
Mr.
Dane is a portfolio manager on the US Equity Team. Before
joining
the Investment Adviser, Mr. Dane was a Senior Vice
President
at Putnam Investments. Prior to that, he was an Associate
at
Dane, Falb, Stone & Co. |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible
|
Five
Year Employment History |
Ashish
Shah
Managing
Director,
Co-Chief
Investment Officer, Global
Fixed
Income |
Portfolio
Manager—
Income
Builder Fund
(Credit) |
Since
2019 |
Mr.
Shah is Co-Chief Investment Officer of Global Fixed Income,
Global
Head of Corporate Credit and Head of the Cross-Sector
Strategy
within Fixed Income. Mr. Shah joined the Investment
Adviser
in 2018. Mr. Shah was previously at AllianceBernstein from
2010
to 2018, where he was most recently the Head of Fixed
Income
and Chief Investment Officer of Global Credit. |
Ron
Arons
Managing
Director |
Portfolio
Manager—
Income
Builder Fund
(Credit) |
Since
2013 |
Mr.
Arons joined the Investment Adviser as a fixed income portfolio
manager
in 2010. |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible
|
Five
Year Employment History |
Neill
Nuttall
Managing
Director, Co-Chief
Investment
Officer |
Portfolio
Manager—
Income
Builder Fund
(Asset
Allocation) |
Since
2021 |
Mr.
Nuttall is a Managing Director and the Co-Chief Investment
Officer
in the MAS Group in GSAM. He joined the Investment
Adviser
in 2014. |
Alexandra
Wilson-Elizondo
Managing
Director |
Portfolio
Manager—
Income
Builder Fund
(Asset
Allocation) |
Since
2022 |
Mrs.
Wilson-Elizondo is a Managing Director in the MAS Group in
GSAM.
Prior to joining the InvestmentAdviser in 2021, Mrs.
Wilson-Elizondo
was the Deputy Head of Global Credit and a
Managing
Director at MacKay Shields LLC which she joined in
2015. |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible
|
Five
Year Employment History |
Monali
Vora, CFA
Managing
Director |
Portfolio
Manager—
Rising
Dividend Growth |
Since
2018 |
Ms.
Vora is a member of the Customized Beta Strategies team. Prior
to
working in the Customized Beta Strategies team, she spent six
years
as a member of the QIS Equity Portfolio team. Ms. Vora joined
the
Investment Adviser in 2000. |
Aron
Kershner
Managing
Director |
Portfolio
Manager—
Rising
Dividend Growth |
Since
2018 |
Mr.
Kershner is a Portfolio Manager on the QIS team and joined the
Investment
Adviser in 2005. |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible
|
Five
Year Employment History |
Kyri
Loupis
Managing
Director |
Portfolio
Manager—
Rising
Dividend Growth |
Since
2020 |
Mr.
Loupis joined the Investment Adviser in 2009 and is a portfolio
manager
and head of the Energy Infrastructure & Renewables
team. |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible
|
Five
Year Employment History |
Siwen
Wu
Vice
President |
Portfolio
Manager—
Rising
Dividend Growth Fund
(Asset
Allocation) |
Since
2021 |
Mr.
Wu is a Vice President in the MAS Group. He is a portfolio
manager
focused on multi-asset investment funds, institutional
clients
and alternative risk premiastrategies. Mr. Wu joined the firm
in
2011. |
DISTRIBUTOR
AND TRANSFER AGENT |
ACTIVITIES
OF GOLDMAN SACHS AND ITS AFFILIATES AND OTHER
ACCOUNTS
MANAGED BY GOLDMAN SACHS |
Fund |
Investment
Income
Distributions |
Capital
Gains
Distributions |
Income
Builder |
Monthly |
Annually |
Rising
Dividend Growth |
Quarterly |
Annually |
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 |
3.99 |
3.00 |
$250,000
or more |
0.00** |
0.00** |
*** |
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
AND EXCHANGES |
OTHER
INFORMATION |
A. General
Portfolio Risks |
B. Other
Portfolio Risks |
C. Portfolio
Securities and Techniques |
|
Goldman
Sachs Income Builder Fund
| |||||||||
|
Class
A Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$22.54 |
$26.97 |
$23.40 |
$23.67 |
$21.67 | |||||
Net
investment income(a)
|
0.97 |
0.83 |
0.81 |
0.73 |
0.82 | |||||
Net
realized and unrealized gain (loss)
|
(0.43
) |
(3.47
) |
3.58 |
(0.21
) |
2.02 | |||||
Total
from investment operations
|
0.54 |
(2.64
) |
4.39 |
0.52 |
2.84 | |||||
Distributions
to shareholders from net investment income
|
(1.04
) |
(0.86
) |
(0.82
) |
(0.76
) |
(0.84
) | |||||
Distributions
to shareholders from net realized gains
|
— |
(0.93
) |
— |
— |
— | |||||
Distributions
to shareholders from return of capital
|
—
(b) |
— |
— |
(0.03
) |
— | |||||
Total
distributions
|
(1.04
) |
(1.79
) |
(0.82
) |
(0.79
) |
(0.84
) | |||||
Net
asset value, end of year
|
$22.04 |
$22.54 |
$26.97 |
$23.40 |
$23.67 | |||||
Total
return(c)
|
2.30
% |
(10.34
)% |
18.90
% |
2.29
% |
13.34
% | |||||
Net
assets, end of year (in 000s)
|
$541,496 |
$524,002 |
$505,134 |
$328,039 |
$314,951 | |||||
Ratio
of net expenses to average net assets
|
0.80
% |
0.79
% |
0.79
% |
0.92
% |
0.95
% | |||||
Ratio
of total expenses to average net assets
|
0.93
% |
0.92
% |
0.92
% |
0.98
% |
1.00
% | |||||
Ratio
of net investment income to average net assets
|
4.18
% |
3.42
% |
3.07
% |
3.15
% |
3.63
% | |||||
Portfolio
turnover rate(d)
|
29
% |
25
% |
47
% |
46
% |
47
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Income Builder Fund
| |||||||||
|
Class
C Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$22.09 |
$26.47 |
$22.98 |
$23.26 |
$21.31 | |||||
Net
investment income(a)
|
0.78 |
0.64 |
0.60 |
0.55 |
0.64 | |||||
Net
realized and unrealized gain (loss)
|
(0.42
) |
(3.41
) |
3.51 |
(0.21
) |
1.98 | |||||
Total
from investment operations
|
0.36 |
(2.77
) |
4.11 |
0.34 |
2.62 | |||||
Distributions
to shareholders from net investment income
|
(0.87
) |
(0.68
) |
(0.62
) |
(0.60
) |
(0.67
) | |||||
Distributions
to shareholders from net realized gains
|
— |
(0.93
) |
— |
— |
— | |||||
Distributions
to shareholders from return of capital
|
—
(b) |
— |
— |
(0.02
) |
— | |||||
Total
distributions
|
(0.87
) |
(1.61
) |
(0.62
) |
(0.62
) |
(0.67
) | |||||
Net
asset value, end of year
|
$21.58 |
$22.09 |
$26.47 |
$22.98 |
$23.26 | |||||
Total
return(c)
|
1.52
% |
(10.99
)% |
18.01
% |
1.57
% |
12.44
% | |||||
Net
assets, end of year (in 000s)
|
$182,505 |
$243,523 |
$368,881 |
$380,590 |
$463,483 | |||||
Ratio
of net expenses to average net assets
|
1.55
% |
1.54
% |
1.54
% |
1.67
% |
1.70
% | |||||
Ratio
of total expenses to average net assets
|
1.68
% |
1.67
% |
1.67
% |
1.73
% |
1.75
% | |||||
Ratio
of net investment income to average net assets
|
3.43
% |
2.64
% |
2.32
% |
2.41
% |
2.88
% | |||||
Portfolio
turnover rate(d)
|
29
% |
25
% |
47
% |
46
% |
47
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Income Builder Fund
| |||||||||
|
Institutional
Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$23.14 |
$27.64 |
$23.96 |
$24.21 |
$22.15 | |||||
Net
investment income(a)
|
1.07 |
0.94 |
0.91 |
0.84 |
0.93 | |||||
Net
realized and unrealized gain (loss)
|
(0.44
) |
(3.57
) |
3.67 |
(0.21
) |
2.06 | |||||
Total
from investment operations
|
0.63 |
(2.63
) |
4.58 |
0.63 |
2.99 | |||||
Distributions
to shareholders from net investment income
|
(1.12
) |
(0.94
) |
(0.90
) |
(0.85
) |
(0.93
) | |||||
Distributions
to shareholders from net realized gains
|
— |
(0.93
) |
— |
— |
— | |||||
Distributions
to shareholders from return of capital
|
—
(b) |
— |
— |
(0.03
) |
— | |||||
Total
distributions
|
(1.12
) |
(1.87
) |
(0.90
) |
(0.88
) |
(0.93
) | |||||
Net
asset value, end of year
|
$22.65 |
$23.14 |
$27.64 |
$23.96 |
$24.21 | |||||
Total
return(c)
|
2.61
% |
(10.02
)% |
19.29
% |
2.68
% |
13.76
% | |||||
Net
assets, end of year (in 000s)
|
$921,860 |
$993,214 |
$1,061,582 |
$669,848 |
$609,414 | |||||
Ratio
of net expenses to average net assets
|
0.47
% |
0.46
% |
0.46
% |
0.56
% |
0.57
% | |||||
Ratio
of total expenses to average net assets
|
0.60
% |
0.59
% |
0.59
% |
0.62
% |
0.61
% | |||||
Ratio
of net investment income to average net assets
|
4.51
% |
3.75
% |
3.40
% |
3.52
% |
4.03
% | |||||
Portfolio
turnover rate(d)
|
29
% |
25
% |
47
% |
46
% |
47
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Income Builder Fund
| |||||||||
|
Investor
Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$23.06 |
$27.55 |
$23.89 |
$24.14 |
$22.09 | |||||
Net
investment income(a)
|
1.05 |
0.91 |
0.89 |
0.81 |
0.89 | |||||
Net
realized and unrealized gain (loss)
|
(0.44
) |
(3.55
) |
3.65 |
(0.21
) |
2.05 | |||||
Total
from investment operations
|
0.61 |
(2.64
) |
4.54 |
0.60 |
2.94 | |||||
Distributions
to shareholders from net investment income
|
(1.10
) |
(0.92
) |
(0.88
) |
(0.82
) |
(0.89
) | |||||
Distributions
to shareholders from net realized gains
|
— |
(0.93
) |
— |
— |
— | |||||
Distributions
to shareholders from return of capital
|
—
(b) |
— |
— |
(0.03
) |
— | |||||
Total
distributions
|
(1.10
) |
(1.85
) |
(0.88
) |
(0.85
) |
(0.89
) | |||||
Net
asset value, end of year
|
$22.57 |
$23.06 |
$27.55 |
$23.89 |
$24.14 | |||||
Total
return(c)
|
2.49
% |
(10.09
)% |
19.22
% |
2.53
% |
13.59
% | |||||
Net
assets, end of year (in 000s)
|
$392,480 |
$421,142 |
$355,534 |
$256,919 |
$263,228 | |||||
Ratio
of net expenses to average net assets
|
0.55
% |
0.54
% |
0.54
% |
0.67
% |
0.70
% | |||||
Ratio
of total expenses to average net assets
|
0.68
% |
0.67
% |
0.67
% |
0.73
% |
0.75
% | |||||
Ratio
of net investment income to average net assets
|
4.43
% |
3.68
% |
3.32
% |
3.40
% |
3.87
% | |||||
Portfolio
turnover rate(d)
|
29
% |
25
% |
47
% |
46
% |
47
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Income Builder Fund
| |||||||||
|
Class
R6 Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$23.13 |
$27.64 |
$23.95 |
$24.21 |
$22.15 | |||||
Net
investment income(a)
|
1.07 |
0.94 |
0.92 |
0.83 |
0.93 | |||||
Net
realized and unrealized gain (loss)
|
(0.43
) |
(3.58
) |
3.67 |
(0.21
) |
2.06 | |||||
Total
from investment operations
|
0.64 |
(2.64
) |
4.59 |
0.62 |
2.99 | |||||
Distributions
to shareholders from net investment income
|
(1.12
) |
(0.94
) |
(0.90
) |
(0.85
) |
(0.93
) | |||||
Distributions
to shareholders from net realized gains
|
— |
(0.93
) |
— |
— |
— | |||||
Distributions
to shareholders from return of capital
|
—
(b) |
— |
— |
(0.03
) |
— | |||||
Total
distributions
|
(1.12
) |
(1.87
) |
(0.90
) |
(0.88
) |
(0.93
) | |||||
Net
asset value, end of year
|
$22.65 |
$23.13 |
$27.64 |
$23.95 |
$24.21 | |||||
Total
return(c)
|
2.62
% |
(10.05
)% |
19.35
% |
2.70
% |
13.72
% | |||||
Net
assets, end of year (in 000s)
|
$40,051 |
$39,187 |
$25,215 |
$65,293 |
$10,486 | |||||
Ratio
of net expenses to average net assets
|
0.46
% |
0.45
% |
0.46
% |
0.54
% |
0.56
% | |||||
Ratio
of total expenses to average net assets
|
0.59
% |
0.58
% |
0.58
% |
0.61
% |
0.61
% | |||||
Ratio
of net investment income to average net assets
|
4.52
% |
3.76
% |
3.44
% |
3.51
% |
3.96
% | |||||
Portfolio
turnover rate(d)
|
29
% |
25
% |
47
% |
46
% |
47
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Rising Dividend Growth Fund
| |||||||||
|
Class
A Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$11.87 |
$13.87 |
$9.81 |
$11.18 |
$19.56 | |||||
Net
investment income(a)
|
0.10 |
0.07 |
0.05 |
0.08 |
0.10 | |||||
Net
realized and unrealized gain (loss)
|
0.37 |
(0.71
) |
4.44 |
(0.23
) |
0.78 | |||||
Total
from investment operations
|
0.47 |
(0.64
) |
4.49 |
(0.15
) |
0.88 | |||||
Distributions
to shareholders from net investment income
|
(0.48
) |
(0.19
) |
(0.39
) |
(0.24
) |
(0.22
) | |||||
Distributions
to shareholders from net realized gains
|
(1.34
) |
(1.17
) |
(0.04
) |
(0.98
) |
(9.04
) | |||||
Total
distributions
|
(1.82
) |
(1.36
) |
(0.43
) |
(1.22
) |
(9.26
) | |||||
Net
asset value, end of year
|
$10.52 |
$11.87 |
$13.87 |
$9.81 |
$11.18 | |||||
Total
return(b)
|
3.71
% |
(4.99
)% |
46.88
% |
(1.80
)% |
10.41
% | |||||
Net
assets, end of year (in 000s)
|
$228,422 |
$240,085 |
$255,730 |
$167,765 |
$208,416 | |||||
Ratio
of net expenses to average net assets
|
1.02
% |
1.03
% |
1.03
% |
1.09
% |
1.15
% | |||||
Ratio
of total expenses to average net assets
|
1.28
% |
1.28
% |
1.27
% |
1.29
% |
1.27
% | |||||
Ratio
of net investment income to average net assets
|
0.89
% |
0.55
% |
0.42
% |
0.81
% |
0.86
% | |||||
Portfolio
turnover rate(c)
|
45
% |
50
% |
38
% |
43
% |
45
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Rising Dividend Growth Fund
| |||||||||
|
Class
C Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$12.14 |
$14.13 |
$9.99 |
$11.36 |
$19.71 | |||||
Net
investment income (loss)(a)
|
0.02 |
(0.02
) |
(0.03
) |
—
(b) |
0.01 | |||||
Net
realized and unrealized gain (loss)
|
0.37 |
(0.72
) |
4.52 |
(0.23
) |
0.80 | |||||
Total
from investment operations
|
0.39 |
(0.74
) |
4.49 |
(0.23
) |
0.81 | |||||
Distributions
to shareholders from net investment income
|
(0.38
) |
(0.08
) |
(0.31
) |
(0.16
) |
(0.12
) | |||||
Distributions
to shareholders from net realized gains
|
(1.34
) |
(1.17
) |
(0.04
) |
(0.98
) |
(9.04
) | |||||
Total
distributions
|
(1.72
) |
(1.25
) |
(0.35
) |
(1.14
) |
(9.16
) | |||||
Net
asset value, end of year
|
$10.81 |
$12.14 |
$14.13 |
$9.99 |
$11.36 | |||||
Total
return(c)
|
2.90
% |
(5.65
)% |
45.74
% |
(2.50
)% |
9.55
% | |||||
Net
assets, end of year (in 000s)
|
$23,425 |
$41,110 |
$75,965 |
$108,840 |
$194,302 | |||||
Ratio
of net expenses to average net assets
|
1.77
% |
1.78
% |
1.78
% |
1.84
% |
1.90
% | |||||
Ratio
of total expenses to average net assets
|
2.03
% |
2.02
% |
2.03
% |
2.03
% |
2.02
% | |||||
Ratio
of net investment income (loss) to average net assets
|
0.16
% |
(0.15
)% |
(0.23
)% |
0.03
% |
0.12
% | |||||
Portfolio
turnover rate(d)
|
45
% |
50
% |
38
% |
43
% |
45
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Rising Dividend Growth Fund
| |||||||||
|
Institutional
Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$12.69 |
$14.72 |
$10.38 |
$11.76 |
$20.08 | |||||
Net
investment income(a)
|
0.15 |
0.11 |
0.10 |
0.12 |
0.15 | |||||
Net
realized and unrealized gain (loss)
|
0.38 |
(0.74
) |
4.70 |
(0.24
) |
0.83 | |||||
Total
from investment operations
|
0.53 |
(0.63
) |
4.80 |
(0.12
) |
0.98 | |||||
Distributions
to shareholders from net investment income
|
(0.51
) |
(0.23
) |
(0.42
) |
(0.28
) |
(0.26
) | |||||
Distributions
to shareholders from net realized gains
|
(1.34
) |
(1.17
) |
(0.04
) |
(0.98
) |
(9.04
) | |||||
Total
distributions
|
(1.85
) |
(1.40
) |
(0.46
) |
(1.26
) |
(9.30
) | |||||
Net
asset value, end of year
|
$11.37 |
$12.69 |
$14.72 |
$10.38 |
$11.76 | |||||
Total
return(b)
|
4.02
% |
(4.62
)% |
47.16
% |
(1.47
)% |
10.85
% | |||||
Net
assets, end of year (in 000s)
|
$105,744 |
$108,367 |
$130,706 |
$97,358 |
$191,509 | |||||
Ratio
of net expenses to average net assets
|
0.70
% |
0.72
% |
0.72
% |
0.78
% |
0.80
% | |||||
Ratio
of total expenses to average net assets
|
0.92
% |
0.90
% |
0.90
% |
0.90
% |
0.88
% | |||||
Ratio
of net investment income to average net assets
|
1.21
% |
0.87
% |
0.75
% |
1.10
% |
1.25
% | |||||
Portfolio
turnover rate(c)
|
45
% |
50
% |
38
% |
43
% |
45
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Rising Dividend Growth Fund
| |||||||||
|
Investor
Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$12.66 |
$14.69 |
$10.36 |
$11.75 |
$20.07 | |||||
Net
investment income(a)
|
0.14 |
0.11 |
0.09 |
0.11 |
0.14 | |||||
Net
realized and unrealized gain (loss)
|
0.38 |
(0.75
) |
4.69 |
(0.25
) |
0.83 | |||||
Total
from investment operations
|
0.52 |
(0.64
) |
4.78 |
(0.14
) |
0.97 | |||||
Distributions
to shareholders from net investment income
|
(0.50
) |
(0.22
) |
(0.41
) |
(0.27
) |
(0.25
) | |||||
Distributions
to shareholders from net realized gains
|
(1.34
) |
(1.17
) |
(0.04
) |
(0.98
) |
(9.04
) | |||||
Total
distributions
|
(1.84
) |
(1.39
) |
(0.45
) |
(1.25
) |
(9.29
) | |||||
Net
asset value, end of year
|
$11.34 |
$12.66 |
$14.69 |
$10.36 |
$11.75 | |||||
Total
return(b)
|
3.95
% |
(4.70
)% |
47.09
% |
(1.55
)% |
10.73
% | |||||
Net
assets, end of year (in 000s)
|
$65,745 |
$64,950 |
$71,231 |
$64,328 |
$105,498 | |||||
Ratio
of net expenses to average net assets
|
0.77
% |
0.78
% |
0.78
% |
0.84
% |
0.90
% | |||||
Ratio
of total expenses to average net assets
|
1.03
% |
1.02
% |
1.02
% |
1.03
% |
1.02
% | |||||
Ratio
of net investment income to average net assets
|
1.15
% |
0.81
% |
0.71
% |
1.04
% |
1.13
% | |||||
Portfolio
turnover rate(c)
|
45
% |
50
% |
38
% |
43
% |
45
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Rising Dividend Growth Fund
| |||||||||
|
Class
R6 Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$12.68 |
$14.71 |
$10.37 |
$11.76 |
$20.08 | |||||
Net
investment income(a)
|
0.14 |
0.11 |
0.10 |
0.12 |
0.14 | |||||
Net
realized and unrealized gain (loss)
|
0.39 |
(0.74
) |
4.70 |
(0.25
) |
0.85 | |||||
Total
from investment operations
|
0.53 |
(0.63
) |
4.80 |
(0.13
) |
0.99 | |||||
Distributions
to shareholders from net investment income
|
(0.51
) |
(0.23
) |
(0.42
) |
(0.28
) |
(0.27
) | |||||
Distributions
to shareholders from net realized gains
|
(1.34
) |
(1.17
) |
(0.04
) |
(0.98
) |
(9.04
) | |||||
Total
distributions
|
(1.85
) |
(1.40
) |
(0.46
) |
(1.26
) |
(9.31
) | |||||
Net
asset value, end of year
|
$11.36 |
$12.68 |
$14.71 |
$10.37 |
$11.76 | |||||
Total
return(b)
|
4.03
% |
(4.62
)% |
47.22
% |
(1.47
)% |
10.78
% | |||||
Net
asset value, beginning of year (in 000s)
|
$5,831 |
$2,738 |
$3,063 |
$1,868 |
$2,240 | |||||
Ratio
of net expenses to average net assets
|
0.69
% |
0.71
% |
0.71
% |
0.76
% |
0.80
% | |||||
Ratio
of total expenses to average net assets
|
0.91
% |
0.89
% |
0.89
% |
0.90
% |
0.89
% | |||||
Ratio
of net investment income to average net assets
|
1.19
% |
0.87
% |
0.75
% |
1.11
% |
1.19
% | |||||
Portfolio
turnover rate(c)
|
45
% |
50
% |
38
% |
43
% |
45
% |
(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
and
certain derivatives. If such transactions were included, the Fund's
portfolio turnover rate may be
higher. |
|
Goldman
Sachs Rising Dividend Growth Fund
| |||||||||
|
Class
R Shares
| |||||||||
|
Year
Ended October 31,
| |||||||||
|
2023
|
2022
|
2021
|
2020
|
2019
| |||||
Per
Share Data
|
|
|
|
|
| |||||
Net
asset value, beginning of year
|
$11.81 |
$13.79 |
$9.76 |
$11.13 |
$19.51 | |||||
Net
investment income(a)
|
0.07 |
0.04 |
0.02 |
0.06 |
0.07 | |||||
Net
realized and unrealized gain (loss)
|
0.36 |
(0.69
) |
4.42 |
(0.24
) |
0.78 | |||||
Total
from investment operations
|
0.43 |
(0.65
) |
4.44 |
(0.18
) |
0.85 | |||||
Distributions
to shareholders from net investment income
|
(0.45
) |
(0.16
) |
(0.37
) |
(0.21
) |
(0.19
) | |||||
Distributions
to shareholders from net realized gains
|
(1.34
) |
(1.17
) |
(0.04
) |
(0.98
) |
(9.04
) | |||||
Total
distributions
|
(1.79
) |
(1.33
) |
(0.41
) |
(1.19
) |
(9.23
) | |||||
Net
asset value, end of year
|
$10.45 |
$11.81 |
$13.79 |
$9.76 |
$11.13 | |||||
Total
return(b)
|
3.41
% |
(5.10
)% |
46.38
% |
(2.01
)% |
10.08
% | |||||
Net
assets, end of year (in 000s)
|
$1,198 |
$1,346 |
$1,357 |
$1,131 |
$2,575 | |||||
Ratio
of net expenses to average net assets
|
1.27
% |
1.28
% |
1.28
% |
1.35
% |
1.40
% | |||||
Ratio
of total expenses to average net assets
|
1.53
% |
1.52
% |
1.52
% |
1.53
% |
1.52
% | |||||
Ratio
of net investment income to average net assets
|
0.63
% |
0.31
% |
0.19
% |
0.57
% |
0.61
% | |||||
Portfolio
turnover rate(c)
|
45
% |
50
% |
38
% |
43
% |
45
% |
(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
and
certain derivatives. 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, C, Investor & 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 |
|