Funds that use leverage can be expected to be more “volatile” than other funds that do not use leverage. 2Market Value NAV: Net asset value per share based on available market quotations of the Funds’ securities as provided by a third party pricing vendor or broker as of 3:00 p.m. Eastern Time on the date stated. Goldman Sachs Rising Dividend Growth Fund Class A. ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Goldman Sachs Large Cap Value Fund – Service Shares Before you invest, you may want to review the Goldman Sachs Large Cap Value Fund’s (the “Fund”) Prospectus, which contains more information about the Fund and its risks. A summary prospectus, if available, or a Prospectus for the Fund containing more information may be obtained from your authorized dealer or from Goldman Sachs & Co. LLC by calling (retail - 1-800-526-7384) (institutional – 1-800-621-2550). Investments in foreign securities entail special risks such as currency, political, economic, and market risks. High yield, lower rated investments involve greater price volatility, are less liquid and present greater risks than higher rated fixed income securities. In an effort to distinguish funds by what they own, as well as by their prospectus objectives and styles, Morningstar developed the Morningstar Categories. 64.82%: 12.91%: 11.76%: 9.93%: 8.87%: Goldman Sachs Rising Dividend Growth Fund Class A (Load Adjusted) 55.76%: 10.81%: 10.50%: 9.31%: 8.50%: S&P 500 The summary prospectus, if available, and the Prospectus contains this and other information about the Fund. Please read the prospectus carefully before investing. A summary prospectus, if available, or a Prospectus for the Fund containing more information may be obtained from your authorized dealer or from Goldman Sachs & Co. LLC by calling (retail - 1-800-526-7384) (institutional – 1-800-621-2550). Goldman Sachs & Co. LLC. IMPORTANT NOTICE REGARDING FUND REORGANIZATION . Institutional Funds: You could lose money by investing in the Fund. At times, a Fund may be unable to sell certain of its illiquid investments without a substantial drop in price, if at all. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%; 3 stars to the next 35%; 2 stars to the next 22.5%; and 1 star to the bottom 10%. The Fund may invest in loans directly, through loan assignments, or indirectly, by purchasing participations or sub-participations from financial institutions. The Fund. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. dated , 2021. The Fund is also subject to the risk that the issuers of sovereign debt or the government authorities that control the payment of debt may be unable or unwilling to repay principal or interest when due. Morningstar Risk-Adjusted Ratings: The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating Metrics. We would recommend that investors consult their legal, tax or accounting advisor prior to investing in such share classes mentioned above. In addition, if returns are in fact uncorrelated to the broader securities markets, a Fund may underperform those markets. Losses on short positions are potentially unlimited, since the positions lose value as the asset that was sold short increases in value. Derivative instruments may involve a high degree of financial risk. The information and services provided on this web site are intended for persons in the US only. Goldman Sachs does not provide legal, tax or accounting advice. There is risk that alternative funds hold investments that may be difficult to value and as a result the values used by alternative funds to price investments may be different from those used by others to price the same investments. For example, in periods of robust equity market returns, returns from a Fund may be lower or negative. These strategies involve risks that may not be present in more traditional (e.g., equity or fixed income) mutual funds. Your election to receive reports in paper will apply to all Goldman Sachs Funds held in your account if you invest through your financial intermediary or all Goldman Sachs Funds held with the Fund’s transfer agent if you invest directly with the transfer agent. As at the date of this Prospectus there are four Supplements Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. the Fund or from Goldman Sachs International, at their respective addresses which are set out in the “Directory” on page 1 of the Prospectus. If you would like a preprinted copy of the prospectus, please contact a Citibank representative. dated , 2021 of GS Finance Corp. and The Goldman Sachs Group, Inc. with … These risks include the risk that a small movement in the price of the underlying security or benchmark may result in a disproportionately large movement, unfavorable or favorable, in the price of the derivative instrument; risks of default by a counterparty; and liquidity risk. Minimum to Invest 3. As at the date of this Prospectus there are four Supplements (Supplements I - IV), each of … Learn more about mutual funds at fidelity.com. Investments in fixed income securities are subject to the risks associated with debt securities generally including credit, liquidity and interest rate risk. Close tooltip. In addition, a Fund may reduce or withhold any income and/or realized gains generated from its investments to the extent necessary to minimize principal volatility. The information and services provided on this web site are intended for persons in the US only. This site is for the use of US investors only. Prospectus Goldman Sachs Funds SICAV An undertaking for collective investment organised under the laws of the Grand Duchy of Luxembourg (S. 1.C.A.V) July 2006 This Prospectus is only valid if accompanied by the relevant Supplement($) referable to the Portfolio in which an investment is to be made. The following replaces in its entirety the “Goldman Sachs Rising Dividend Growth Fund—Summary—Expense Example” section of the Prospectus and the “Expense Example” section of the Summary Prospectus: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. Close tooltip. There may be additional risks that the Funds do not currently foresee or consider material. Units of the Fund are primarily offered through certain intermediaries that have a relationship with Goldman Sachs … Learn more about mutual funds at fidelity.com. The 30-Day Standardized Unsubsidized Yield does not adjust for any fee waivers and/or expense reimbursements in effect. Data shown is as of most recent month end. Copies of the most recent annual report and any subsequent semi-annual report of the Fund are available free of charge on request. This yield does not necessarily reflect income actually earned and distributed by the Fund and, therefore, may not be correlated with the dividends or other distributions paid to shareholders. There can be no assurance that the Funds will achieve their investment objectives. The yield quotations more closely reflect the current earnings of the Fund. To the extent the Yield shown above includes the positive effect of a rise in inflation, it may not be repeated. However, correlations among different asset classes may shift over time, and if this occurs a Fund’s performance may track broader markets. Yields will fluctuate as market conditions change. A review of the performance of the Company is contained in the The Standardized Total Returns are average annual total returns or cumulative total returns (only if the performance period is one year or less) as of the most recent calendar quarter-end. ; or (v) Amounts receivable and due unconditionally within five business days on pending sales of portfolio securities. Note: Separate multiple email address with a comma or semicolon. Foreign and emerging markets investments may be more volatile and less liquid than investments in U.S. securities and are subject to the risks of currency fluctuations and adverse economic or political developments. For Inflation Protected Securities Fund ONLY Please see GSAMFunds.com/ETFs for additional risk considerations. Singapore Prospectus Goldman Sachs Funds SICAV Constituted in Luxembourg This Singapore Prospectus is a replacement prospectus lodged pursuant to section 298 of the Securities and Futures Act, Chapter 289 of Singapore and replaces the Singapore prospectus for Goldman Sachs Funds SICAV (the “Fund”) registered by the Monetary Authority The portfolios of GOLDMAN SACHS FUNDS SICAV (the “Fund”) offered in this Singapore Prospectus and as set out in Paragraph 2 of this Singapore Prospectus (each a “Portfolio” and collectively, the “Portfolios”), are recognised schemes under the Securities and Futures Learn more about mutual funds at … MLPs are also subject to risks relating to their complex tax structure, including the risk that an MLP could lose its tax status as a partnership, resulting in a reduction in the value of the Fund’s investment in the MLP and lower income to the Fund. Goldman Sachs & Co. LLC is the distributor of the Goldman Sachs Funds. Investments in commodities may be affected by changes in overall market movements, commodity index volatility, changes in interest rates or factors affecting a particular industry or commodity. *The maximum sales charge has been applied, please visit the fund facts tab in order to view sales charges for a specific asset class. This number is then annualized. The example provided does not reflect the deduction of investment advisory fees which would reduce an investor's return. © 2021 Goldman Sachs. Indirect purchases may subject the Fund to greater delays, expenses and risks than direct obligations in the case that a borrower fails to pay scheduled principal and interest. The Fund’s prospectus and summary prospectus contain this and other important information about the Fund, which can be obtained by visiting the GS Fund information page or calling Goldman, Sachs & Co. at +1 (800) 526-7384. Derivative instruments may involve a high degree of financial risk. Prospectus Institutional Shares April 29, 2020 GOLDMAN SACHS VARIABLE INSURANCE TRUST Goldman Sachs Mid Cap Value Fund BeginningonorafterJanuary1,2021,youmaynot receivepapercopiesoftheFund’sannual Goldman Sachs Funds SICAV. The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. Turnover Rate. Learn more about why portfolio construction matters below. Goldman Sachs Asset Management’s thematic equity strategies seek to invest in the future by reaching beyond backward-looking benchmarks to identify innovative, attractively-valued companies aligned with durable secular growth trends. It has known security flaws and may not display all features of this and other websites, GS GQG Partners International Opportunities Fund, GS Access Investment Grade Corporate Bond ETF, GS ActiveBeta® U.S. Large Cap Equity ETF, GS ActiveBeta® Emerging Markets Equity ETF, GS Equal Weight U.S. Large Cap Equity ETF, GS Access Inflation Protected USD Bond ETF, GS ActiveBeta® U.S. Small Cap Equity ETF, GS Access Investment Grade Corporate 1-5 Year Bond ETF, GS MarketBeta® Emerging Markets Equity ETF, GS International Equity Dividend and Premium Fund, GS Multi-Manager Non-Core Fixed Income Fund, GS Multi-Manager Real Assets Strategy Fund, GS Enhanced Dividend Global Equity Portfolio, GS Tax-Advantaged Global Equity Portfolio, GS International Real Estate Securities Fund, GS Financial Square Federal Instruments Fund, GS Financial Square Prime Obligations Fund, GS Financial Square Treasury Instruments Fund, GS Financial Square Treasury Obligations Fund, GS Financial Square Treasury Solutions Fund, See Glossary for definition of terms used in reference to Products. A fund concentrated in an economic sector or geographical region will also be more volatile. 6 summary prospectus — goldman sachs tactical tilt implementation fund pay principal later than expected) and “prepayment risk” ( i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing an Underlying Fund to … November 2019 . The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. ... Not all funds charge a load; check a mutual fund's prospectus for more details. Goldman Sachs Private Markets Fund 2018 (B) LLC (the “Fund”) is a limited liability company organized under the laws of the State of Delaware and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company. 3NAV: The NAV (Net Asset Value) represents the net assets of the Fund (ex-dividend) divided by the total number of shares. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. 1GROWTH OF $10,000: A graphical measurement of a portfolio's gross return that simulates the performance of an initial investment of $10,000 over the given time period. Analyze the Fund Goldman Sachs Capital Growth Fund Class A having Symbol GSCGX for type mutual-funds and perform research on other mutual funds. The investment adviser may contractually agree to waive or reimburse certain fees and expenses until a specified date. A new or smaller fund may buy smaller-sized bonds known as “odd lots”, which may be sold at a discount to similar “round lot” bonds, that the fund may not buy as the fund grows in size. ... Not all funds charge a load; check a mutual fund's prospectus for more details. There is also the risk that funds will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. They assume reinvestment of all distributions at net asset value. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund’s Prospectus and Statement of Additional Information (“SAI”), both dated July 6, 2020, as supplemented to date, are incorporated by reference into this Summary Prospectus. Pursuant to a contractual arrangement, the Fund’s waivers and/or expense limitations will remain in place at least through the dates found below and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Fund’s Board of Trustees. Goldman Sachs Funds SICAV . Past performance does not guarantee future results. Visit the GSAM Muni Center – where you can find our municipal bond funds and high caliber market insights. Morningstar Prospectus Objective Min Initial Purchase Min Subsequent Purchase Min IRA Purchase: Expense Ratio: 12b-1: Sales Charge: Available to New Shareholders : Available to Existing Shareholders: Exchange In Eligible: Foreign Purchase Eligible: Goldman Sachs Funds: G S FINANCIAL SQUARE GOVERNMENT SELECT: 38142Y716: GSGXX: Mutual Fund $ - $ - $ - None: No: Yes: 0: Y: Goldman Sachs Funds… Analyze the Fund Goldman Sachs Multi-Manager Alternatives Fund Class A having Symbol GMAMX for type mutual-funds and perform research on other mutual funds. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. Prospectus Goldman Sachs Funds, plc (an investment company with variable capital incorporated with limited liability in Ireland with registered number 252159 and established as an umbrella fund with segregated liability between its sub-funds under the European Communities (Undertakings for Collective Investment in Transferable Securities) Minimum to Invest 3. Ratings reflect a fund's risk-adjusted 3-, 5-, and 10-year total returns, including any sales charge. Without waivers and/or reimbursements, yields would be reduced. The notes are part of the Medium-Term Notes, Series F program of GS Finance Corp. and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. Relatively small changes in the rate of inflation can have significant positive or negative impacts on the 30-Day Standardized Yield of the Fund. Capital gains, if any, are federally taxable. Leverage increases a Fund’s sensitivity to market movements. This site is … Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. All rights reserved. The prospectus contains this and other information about the Fund. (the “Company”) for the year ended 31 December 2019. Business Review The results of operations are set out on page 44. While the prospectus objective identifies a fund's investment goals based on the wording in the fund prospectus, the Morningstar Category identifies funds based on their actual investment styles as measured by their underlying portfolio holdings (portfolio and other statistics over the past three years). Prospectus Goldman Sachs Funds SICAV An undertaking for collective investment organised under the laws of the Grand Duchy of Luxembourg (S.I.C.A.V) May 2012 This Prospectus is only valid if accompanied by the relevant Supplement(s) referable to the Portfolio in which an investment is to be made. $1,000.00. Goldman Sachs Funds SICAV December 2017 ii Goldman Sachs Asset Management Important Information About this Prospectus – The Prospectus provides information about the Fund and the Portfolios and contains information which prospective investors ought to know before investing in the Fund and should therefore be retained for future reference. (iv) Securities that will mature, or are subject to a demand feature that is exercisable and payable, within five business days. 5Weekly Liquid Assets are presented as a percentage of the fund’s total assets as of 5:00 p.m. Eastern Time on the date stated. The Fund's investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Prospectus Supplement No. A Fund is rated against all other funds in its category. There is no guarantee that any fund, including a fund with high or unusual performance for one or more periods of time, will perform similarly in the future. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Analyze the Fund Goldman Sachs Income Builder Fund Class A having Symbol GSBFX for type mutual-funds and perform research on other mutual funds. Shares of the Goldman Sachs Funds are issued solely on the basis of information set out in the current Prospectus of the Goldman Sachs Funds, plc, which is available free of charge at the Funds' principal office. Investment returns may fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed, or sold, may be worth more or less than their original cost. The securities of mid- and small-capitalization companies involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. Income may be subject to state and local taxes. Goldman Sachs & Co. LLC is the distributor of the Goldman Sachs Funds. The prospectus contains this and other information about the Fund. For more performance data, please visit our Disclosure Document page. The waivers and expense limitations are voluntary and may be modified or terminated at any time at the option of the Investment Adviser. GOLDMAN SACHS FUNDS - PLC/English AR 124296 2 Directors’ Report The Directors present to the shareholders their annual report together with the financial statements of Goldman Sachs Funds Plc. Our Company; Vision; Team; Our Clients; Job Opportunities-Internships; Sample Documents; Partnership Program; Investment Documents. Prospectus Writing; Private Placement Memorandum; Offering Memorandum; Hedge Funds & Mutual Funds; Information Memorandum; Bond Offerings; 144A & Reg S Offerings; IPO & Stock Exchange Listing; Registration and Filing; Valuations Please read the prospectus carefully before investing. June 2016 This Prospectus is only valid if accompanied by the relevant The calculation of the 30-Day Standardized Subsidized Yield is mandated by the SEC and is determined by dividing the net investment income per share earned during the period by the maximum public offering price of the Fund (“POP”) per share on the last day of the period. 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