The Fund is classified as a financial product under Article 8 of the EU Sustainable Finance Disclosure Regulation. The Fund promotes environmental or social characteristics but does not have a sustainable investment objective. The Fund integrates ESG factors and risk in the investment process alongside traditional factors. Detailed information on the sustainability related disclosures of the Fund can be found in the Template Pre-contractual disclosure (annex of the prospectus) on https://www.gsam.com/responsible-investing/en-INT/non-professional/funds/documents. The fund invests in debt instruments (i.e. notes, bonds, certificates etc) denominated in currencies of economically developed and politically stable countries which are members of the OECD (Organisation for Economic Cooperation and Development). We invest in countries where we are able to assess specific political and economic risks and in countries that have undertaken certain economic reforms. The issuers of the debt instruments are mainly established in low and middle income developing countries (emerging markets). We invest in South and Central American (including the Caribbean), Central and Eastern European, Asian, African and Middle Eastern debt instruments. Measured over a period of several years, we aim to beat the performance of the benchmark JP Morgan EMBI Global Diversified hedged (EUR). The benchmark is a broad representation of the investment universe. We actively manage the fund via country allocation, curve positioning and bond selection. The portfolio is diversified across countries and instruments. The portfolio composition can materially deviate from the benchmark. For this specific hedged share class we apply a currency hedging strategy. The sub-fund’s base currency is US dollar (USD). By hedging this share class we aim to exchange the base currency of the sub-fund (USD) with the base currency of this share class euro (EUR). A currency hedge consists of taking an offsetting position in another currency. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily. The fund does not aim to provide you with a dividend. It will reinvest all earnings.