Public Equity
The power of our global network is more than reach—it’s a catalyst.
Clients can benefit from our access to the people and institutions that drive markets. This access has a compounding effect: every connection generates insights, every insight uncovers opportunities, and every opportunity drives results—aiming to turn our global network into a lasting competitive advantage.
We are not simply a financial institution. We are one of the world’s most influential information hubs, powered by a global network that spans industries, markets, and borders.
The future of equity is being written in data.
Clients can benefit by investing with foresight, confidence, and purpose, as we transform data into a strategic differentiator that helps shape the future of their portfolios.
Our data advantage stems from our scale, technology, and integration across markets and asset classes. We spend in aggregate ~$1.9 billion per year on Technology and Communications providing us with access to over 100 GPUs and more than 1 million hours of AI model training. We believe this enables us to identify patterns, anticipate trends, and uncover opportunities before others.
Data and connections are powerful—but it is our expertise that unlocks them.
Clients can benefit from the amplifying effect of our expertise, which we believe allows us to act faster, make smarter decisions, and translate information and relationships into measurable results.
Our Fundamental and Quantitative teams have both existed for more than 35 years, developing and fine-tuning capabilities over time.
Insights from our global network are interpreted with the rigor and excellence that defines our investment teams. We continuously apply and adapt our brightest thinking with deep investment experience honed over decades seeking to capture alpha and manage risk.
Source: Goldman Sachs Asset Management. As of December 31, 2025. “Investment Excellence” refers to the firm’s commitment to high standards in research risk management and client service. “Expertise” refers to striving for exceptional performance and results (e.g., our investment process and discipline). It does not refer to any performance superiority or guaranteed outcomes. "Data advantage" refers to a 35-year history of systematic and data-driven investment processes supported by access to more than one trillion data points. Goldman Sachs Asset Management leverages the resources of Goldman Sachs & Co. LLC subject to legal, internal and regulatory restrictions.
Goldman Sachs Global Future Economic Security Equity Portfolio
Investment Objective and Policy: The Fund seeks to provide capital growth over the longer term. The Fund seeks to achieve its objective by holding shares or similar instruments relating to companies that are domiciled anywhere in the world which, in the view of the Investment Adviser, have the potential to be beneficiaries of evolving trends in international relations and their impact on the economic security of developed markets including, but not limited to, the beneficiaries and drivers of supply chain security, resource security and national security. There is no guarantee that objectives will be met. Our investment philosophy is that wealth is created through the long-term ownership of a growing business when purchased at an attractive price. We take a bottom-up approach to investing based on first-hand, fundamental research. Our goal is to identify companies whose stock will appreciate substantially as a result of the above average sustained growth of the underlying business. As such, we look to buy companies with strong business franchises, favorable long-term prospects, and excellent management teams. We maintain a strong valuation discipline and long-term focus, seeking to buy these businesses when we see value that the market is not fully appreciating.
Type of Assets in Which Fund May Invest: The Fund primarily invests in developed market equities.
Actively or Not Actively Managed Against Benchmark + Degree of Freedom from Benchmark: The Fund is actively managed and references the MSCI World Index for the purposes of setting discretionary internal risk thresholds which may reference deviations from the Benchmark.
SFDR: Article 6
Fees are generally billed and payable at the end of each quarter and are based on average month-end market values during the quarter. Additional information is provided in our Form ADV Part 2.
The prospectus, the Key Information Document (KID) or UK Key Investor Information Document (KIID) (as applicable), information on sustainability-related aspects of the fund (such as the SFDR classification), and other legally required documents relating to the fund (containing information about the fund, the costs and the risks involved) are available on www.gsam.com/responsible-investing in the relevant languages of the countries where the fund is registered or notified for marketing purposes. Goldman Sachs Asset Management B.V. may decide to terminate the arrangements made for the marketing of the fund in accordance with article 93a UCITS Directive and article 32a AIFM Directive as implemented in Dutch law in article 2:121ca and 2:124.0a Wft. Information about investor rights and collective redress mechanisms are available on www.gsam.com/responsible-investing. Investment sustains risk. The decision to invest in a fund should take into account all the characteristics, objectives, and associated risks of a fund as described in the prospectus. The investment promoted concerns the acquisition of units or shares in a fund, and not in an underlying asset in which the fund invests. Please note that the value of any investment may rise or fall and that past performance is not indicative of future results and should in no event be deemed as such. A return on investment may increase or decrease as a result of currency fluctuation.
Risk: The risk of this fund is set at 4 (on a scale of 1 - lower risk to 7 - higher risk). Historical data, such as is used for calculating this indicator, may not be a reliable indication of the future risk profile of this fund. There is no guarantee that the risk indicator will remain unchanged, it may shift over time. The lowest category of risk does not mean that the investment is risk free. We have classified this portfolio as 4 out of 7, which is a medium risk class. This rates the potential losses from future performance at a medium level, and poor market conditions could impact the Portfolio 's capacity to pay you. Be aware of currency risk. In some circumstances, you may receive payments in a different currency, so the final return you will get depend on the exchange rate between the two currencies. This risk is not considered in the indicator scale. Other Material Risks relevant to the portfolio not included in the summary risk indicator are set out in the Prospectus. This product does not include any protection from future market performance so you could lose some or all of your investment. If the fund is not able to pay you what is owed, you could lose your entire investment. Concentration risk this is a concentrated asset strategy that is likely to exhibit a significantly greater fluctuations in asset values than a broad investment in a wide range of shares of companies. Correlation risk the link between the value of the Portfolio and oil, gas and energy prices may vary significantly, particularly over short periods of time. An investment in the Portfolio should not be used to obtain exposure to movement in the price of oil. Counterparty risk a party that the Portfolio transacts with may fail to meet its obligations which could cause losses. Custodian risk insolvency, breaches of duty of care or misconduct of a custodian or sub custodian responsible for the safekeeping of the Portfolio's assets can result in loss to the Portfolio. Derivatives risk derivative instruments are highly sensitive to changes in the value of the underlying asset that they are based on. Certain derivatives may result in losses greater than the amount originally invested. Exchange rate risk changes in exchange rates may reduce or increase the returns an investor might expect to receive independent of the performance of such assets. If applicable, investment techniques used to attempt to reduce the risk of currency movements (hedging), may not be effective. Hedging also involves additional risks associated with derivatives Liquidity risk the Portfolio may not always find another party willing to purchase an asset that the Portfolio wants to sell which could impact the Portfolio's ability to meet redemption requests on demand. Market risk the value of assets in the Portfolio is typically dictated by a number of factors, including the confidence levels of the market in which they are traded. Operational risk material losses to the Portfolio may arise as a result of human error, system and/or process failures, inadequate procedures or controls. Complete information on the risks of investing in the fund are set out in the fund’s prospectus.
Fees: Ongoing Costs Taken Each Year: Management Fee (%): 0.75. Actual Total Expense Ratio (%): 0.83, Maximum Sales Charge (%): 0.00
The fees are the fees the fund charges to investors to cover the costs of running the Fund, which will impact on the overall return which an investor receives. Additional costs, including transaction fees, will also be incurred. These costs are paid out by the Fund, which will impact on the overall return of the Fund. Fund charges will be incurred in multiple currencies, meaning that payments may increase or decrease as a result of currency exchange fluctuations. All charges will be paid out by the Fund, which will impact on the overall return of the Fund. Any future returns will be subject to tax which depends on the personal tax situation of each investor, which may change over time.
Goldman Sachs Eurozone Equity Income Fund
Investment Objective and Policy: The fund aims to outperform the MSCI EMU (NR) Index over a full market cycle while offering an attractive and sustainable dividend yield. The fund uses active management to target companies that pay dividends, with sector and country overweight limits maintained relative to the benchmark. Its stock-level composition will therefore materially deviate from the benchmark. Measured over a period of several years we aim to beat the performance of the benchmark MSCI EMU (NR) Index. The benchmark is a broad representation of our investment universe. The fund may also include investments into securities that are not part of the benchmark universe. The fund’s stock selection process is driven by fundamental analysis and includes the integration of ESG factors.
Type of Assets in Which Fund May Invest: The Fund primarily invests in Eurozone equities.
Actively or Not Actively Managed Against Benchmark + Degree of Freedom from Benchmark: The Fund is actively managed against the benchmark MSCI EMU NR. The benchmark is a broad representation of our investment universe. The fund may also include investments into securities that are not part of the benchmark universe. Its stock-level composition will therefore materially deviate from the benchmark.
SFDR: Article 8
The summary risk indicator is a guide to the level of the risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you. This product does not include any protection from future market performance so you could lose some or all of your investment. Other Material Risks relevant to the Portfolio not included in the summary risk indicator are set out in the Prospectus. If the Fund is not able to pay you what is owed, you could lose your entire investment. We have classified this Fund as 4 out of 7, which is a medium risk class. This rates the potential losses from future performance at a medium level, and poor market conditions could impact the Fund's capacity to pay you. The actual risk can vary significantly if you cash in at an early stage and you may get back less. You may not be able to cash in early. You may have to pay significant extra costs to cash in early. Be aware of currency risk when the currency of the Fund is different than the official currency of the Member State where the Fund is marketed to you. You will receive payments in a different currency than the official currency of the Member State where the Fund is markted to you, so the final return you will get depends on the exchange rate between the two currencies. The risk is not considered in the indicator shown above.
Fees: One-off charges taken before or after you invest: 2.00% (max) of the amount you pay in when entering this Investment. Charges taken from the fund over a year: 0.81% Management Fee, 0.22% Transaction Cost (of the value of your investment per year). Incidental costs taken under specific conditions: 0.00%.
Details of the fees payable by you in connection with the fund are set out in the fund’s offering documents/ MiFID II costs and charges document. *Fees reflect I CAP EUR share class as of September2025. See Key Information Document for more information. There is no guarantee that objectives will be met. Fees are generally billed and payable at the end of each quarter and are based on average month-end market values during the quarter.
The prospectus, the Key Information Document (KID) or UK Key Investor Information Document (KIID) (as applicable), information on sustainability-related aspects of the fund (such as the SFDR classification), and other legally required documents relating to the fund (containing information about the fund, the costs and the risks involved) are available on www.gsam.com/responsible-investing in the relevant languages of the countries wherethe fund is registered or notified for marketing purposes. Goldman Sachs Asset Management B.V. may decide to terminate the arrangements made for the marketing of the fund in accordance with article 93a UCITS Directive and article 32a AIFM Directive as implemented in Dutch law in article 2:121ca and 2:124.0a Wft. Information about investor rights and collective redress mechanisms are available on www.gsam.com/responsible-investing. Investment sustains risk. The decision to invest in a fund should take into account all the characteristics, objectives, and associated risks of a fund as described in the prospectus. The investment promoted concerns the acquisition of units or shares in a fund, and not in an underlying asset in which the fund invests. Please note that the value of any investment may rise or fall and that past performance is not indicative of future results and should in no event be deemed as such. A return on investment may increase or decrease as a result of currency fluctuation.
Goldman Sachs Global Small Cap CORE® Equity Portfolio
Investment Objective and Policy: The Goldman Sachs Global Small Cap CORE® Equity Portfolio (the “Portfolio”) seeks long-term capital appreciation by investing primarily in equity securities of small capitalisation companies that are domiciled anywhere in the world. The Portfolio promotes environmental and/or social characteristics, however, does not commit to making any sustainable investments. The Portfolio may use derivatives for efficient portfolio management purposes, to help manage risks and for investment purposes in order to seek to increase return. A derivative instrument is a contract between two or more parties whose value depends on the rise and fall of other underlying assets. The term “CORE®” is a registered service mark of Goldman Sachs & Co. Shares in the Portfolio may be redeemed daily (on each business day) on demand. As part of its investment process, the Investment Adviser will implement a multi-strategy approach to ESG which consists of the application of exclusionary screens and the use of proprietary climate metrics to address climate transition risk. Income is rolled up into the value of your investment. The Portfolio currency is USD. The share class currency varies. Income is rolled up into the value of your investment. For full investment objective and policy details see the Prospectus.
Type of Assets in Which Fund May Invest: The Portfolio will mostly hold shares or similar instruments relating to companies anywhere in the world which have a market capital value no greater than the company with the largest market capital value in the MSCI World SmallCap index from 17 December 2025 [S&P Developed Small Cap Index (Total Return Net) prior] at the time the investment is made. The Portfolio may also invest in companies which do not meet this requirement. The Portfolio utilises the CORE strategy, a multi-factor proprietary model developed by Goldman Sachs which aims to forecast returns on securities. The Portfolio will not invest more than one-third of its assets in bonds issued by corporate or government entities, convertibles (securities that can be converted into other types of securities), money market instruments and non-share related instruments.
Actively or Not Actively Managed Against Benchmark + Degree of Freedom from Benchmark:
The Portfolio is actively managed and references the MSCI World SmallCap (the “Benchmark”) from 17 December 2025 [S&P Developed Small Cap Index (Total Return Net) prior] for the purposes of setting discretionary internal risk thresholds which may reference deviations from the Benchmark. The Investment Adviser has full discretion over the composition of the assets in the Portfolio. While the Portfolio will generally hold assets that are components of the Benchmark, it can invest in such components in different proportions, and it can hold assets which are not components of the Benchmark. Therefore returns may deviate materially from the performance of the specified reference Benchmark.
SFDR: Article 8
Risk: UK Key Investor Information Document (KIID) Risk and Reward Profile: This risk profile is based on historical data and may not be a reliable indication of the future risk profile of the Portfolio. The risk category shown is not guaranteed and may change over time. The lowest category does not mean risk free. It is possible that a portfolio stated to have a lower risk profile may in fact fall in value more than a portfolio with a higher risk profile. The Portfolio mostly invests in shares and similar instruments of companies with smaller market capital values which typically experience higher levels of price fluctuations than such securities of companies with larger market capital values. The capital is not guaranteed. Scale 1-7 Lower risk (Potentially lower reward) – Higher risk (Potentially higher reward): LU0328436547; LU0300997029 and LU1253914516 are all in category 6.
PRIIPSKID Risk Indicator: The risk indicator assumes you keep the product for the Recommended Holding Period of 5 years. The actual risk can vary significantly if you cash in at an early stage and you may get back less. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because the Portfolio is not able to pay you. Be aware of currency risk. In some circumstances, you may receive payments in a different currency, so the final return you will get depend on the exchange rate between the two currencies. This risk is not considered in the indicator shown above. Other Material Risks relevant to the Portfolio not included in the summary risk indicator are set out in the Prospectus. This product does not include any protection from future market performance so you could lose some or all of your investment. If the Fund is not able to pay you what is owed, you could lose your entire investment. Scale 1-7 Lower risk – Higher risk: LU0328436547; LU0300997029 and LU1253914516 are all in category 4 (This rates the potential losses from future performance at a medium level, and poor market conditions could impact the Portfolio 's capacity to pay you).
Fees: One-off charges taken before or after you invest: LU0328436547 - Class I Shares (Acc.) (EUR) (Snap) - Entry & Exit costs: none; LU0300997029 - Class P Shares (Acc.) (Snap) - Entry costs: 5.50%, Exit costs: none; LU1253914516 - Class R Shares (GBP) (Snap) - Entry costs: 5.50%, Exit costs: none. Charges taken from the fund over a year: Transaction costs: 0.61% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell. The fund’s gross return reflects the deduction of transaction costs. Ongoing charges: LU0328436547 - 0.69% (based on expenses for the year ending December 2024; LU0300997029 – 1.15% (based on expenses for the year ending December 2024); LU1253914516 – 0.78% (based on expenses for the year ending December 2024). The fund’s net return reflects the deduction of ongoing charges from the gross return. For more details, please refer to MiFID II Ex-Ante Costs & Charges document. Charges taken from the fund under certain specific conditions: Performance fee: none
Goldman Sachs Europe CORE® Equity Portfolio
Investment Objective: The Goldman Sachs Europe CORE® Equity Portfolio (the “Portfolio”) seeks long-term capital appreciation by investing primarily in equity securities of European companies.
Investment Policy: The Portfolio promotes environmental and/or social characteristics, however, does not commit to making any sustainable investments. The Portfolio may use derivatives for efficient portfolio management purposes, to help manage risks and for investment purposes in order to seek to increase return. A derivative instrument is a contract between two or more parties whose value depends on the rise and fall of other underlying assets. The term “CORE®” is a registered service mark of Goldman Sachs & Co. Shares in the Portfolio may be redeemed daily (on each business day) on demand. As part of its investment process, the Investment Adviser will implement a multi-strategy approach to ESG which consists of the application of exclusionary screens and the use of proprietary climate metrics to address climate transition risk. Income (net of expenses) is distributed on an annual basis. The Portfolio currency is EUR. The share class currency varies. For full investment objective and policy details see the Prospectus.
Type of assets in which fund may invest: The Portfolio will mostly hold shares or similar instruments relating to European companies. Such companies are either based in or earn most of their profits or revenues from Europe. The Portfolio may also invest in companies which are based anywhere in the world. The Portfolio utilises the CORE strategy, a multi-factor proprietary model developed by Goldman Sachs which aims to forecast returns on securities. The Portfolio will not invest more than one-third of its assets in bonds issued by corporate or government entities, convertibles (securities that can be converted into other types of securities), money market instruments and non-share related instruments.
Actively or not actively managed against benchmark + degree of freedom from benchmark: The Portfolio is actively managed and references the MSCI Europe Index (Net TR) (the “Benchmark”) for the purposes of setting discretionary internal risk thresholds which may reference deviations from the Benchmark. The Investment Adviser has full discretion over the composition of the assets in the Portfolio. While the Portfolio will generally hold assets that are components of the Benchmark, it can invest in such components in different proportions, and it can hold assets which are not components of the Benchmark. Therefore returns may deviate materially from the performance of the specified reference Benchmark.
SFDR Classification: Article 8
Risk: UK Key Investor Information Document (KIID) Risk and Reward Profile: This risk profile is based on historical data and may not be a reliable indication of the future risk profile of the Portfolio. The risk category shown is not guaranteed and may change over time. The lowest category does not mean risk free. It is possible that a portfolio stated to have a lower risk profile may in fact fall in value more than a portfolio with a higher risk profile. The Portfolio mostly invests in shares and similar instruments which typically experience higher levels of price fluctuations than fixed income securities. The capital is not guaranteed.Scale 1-7 Lower risk (Potentially lower reward) –Higher risk (Potentially higher reward): LU0129912316; LU0234681749; LU0280872259 and LU0830625769 are all in category 6.
PRIIPSKID Risk Indicator: The risk indicator assumes you keep the product for the Recommended Holding Period of 5 years. The actual risk can vary significantly if you cash in at an early stage and you may get back less. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because the Portfolio is not able to pay you. Be aware of currency risk. In some circumstances, you may receive payments in a different currency, so the final return you will get depend on the exchange rate between the two currencies. This risk is not considered in the indicator shown above. Other Material Risks relevant to the Portfolio not included in the summary risk indicator are set out in the Prospectus. This product does not include any protection from future market performance so you could lose some or all of your investment. If the Fund is not able to pay you what is owed, you could lose your entire investment. Scale 1-7 Lower risk – Higher risk: LU0129912316; LU0234681749; LU0280872259 and LU0830625769 are all in category 4. This rates the potential losses from future performance at a medium level, and poor market conditions could impact the Portfolio 's capacity to pay you.
Fees: One-off charges taken before or after you invest: LU0129912316 - Class I Shares - Entry & Exit costs: none; LU0234681749 - Base Shares (Acc.) - Entry costs: 5.50%, Exit costs: none; LU0280872259 - Class P Shares (Acc.) - Entry costs: 5.50%, Exit costs: none; LU0830625769 - Class R Shares (Acc.) - Entry costs: 5.50%, Exit costs: none. Charges taken from the fund over a year: Transaction costs: 0.60% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell. The fund’s gross return reflects the deduction of transaction costs. Ongoing charges: LU0129912316 - 0.59% (based on expenses for the year ending December 2024); LU0234681749 – 1.41% (based on expenses for the year ending December 2024); LU0280872259 – 1.14% (based on expenses for the year ending December 2024); LU0830625769 – 0.66% (based on expenses for the year ending December 2024). The fund’s net return reflects the deduction of ongoing charges from the gross return. For more details, please refer to MiFID II Ex-Ante Costs & Charges document. Charges taken from the fund under certain specific conditions: Performance fee: none.
Goldman Sachs Alpha Enhanced Europe Equity Active UCITS ETF
Investment Objective and Policy: The Sub-Fund seeks long-term capital appreciation by actively investing primarily in equity securities of European companies. The Sub-Fund promotes Environmental/ Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments. The Investment Manager implements a multi-faceted approach to environmental, social and governance (“ESG”) considerations in the Sub-Fund’s investment process to promote a transition to a lower carbon economy by managing climate transition risk relative to the Benchmark via proprietary climate metrics, as further detailed in the pre contractual disclosure for the Sub-Fund contained within the Supplement. The Sub-Fund currency is EUR. The share class currency is EUR. The return of the Sub-Fund depends on the performance of the Sub-Fund, which is directly related to the performance of its investments.
Type of Assets in Which Fund May Invest: The Sub-Fund is actively managed and will, under normal circumstances, invest at least 70% of its net assets in equity and/or equity related securities which provide exposure to companies that are domiciled in, or which derive the predominant proportion of their revenues or profits from Europe. Subject to the Investment Manager’s multi-factor proprietary quantitative investment model, the Sub-Fund may invest in equity and/or equity related securities of companies regardless of their respective market capitalisation(s) and/or sector(s). Equity and equity related securities may include common stock, preferred stock, warrants and other rights to acquire stock and American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts.
Actively or Not Actively Managed Against Benchmark + Degree of Freedom from Benchmark:
The Sub-Fund is actively managed and references the MSCI Europe Index (Net Total Return) (the “Benchmark”) as a performance comparator. The Sub-Fund will seek to use the Benchmark as a performance comparator and aims to achieve a moderate return in excess of the Benchmark in the long term, however, the Sub-Fund positions may meaningfully differ relative to the performance Benchmark which may cause the return of the Sub-Fund to not exceed the return of the Benchmark or underperform the Benchmark.
SFDR: Article 8
Risk: This risk profile is based on historical data and may not be a reliable indication of the future risk profile of the Portfolio. The risk category shown is not guaranteed and may change over time. The lowest category does not mean risk free. It is possible that a portfolio stated to have a lower risk profile may in fact fall in value more than a portfolio with a higher risk profile. The Portfolio mostly invests in shares and similar instruments which typically experience higher levels of price fluctuations than fixed income securities. The capital is not guaranteed. Scale 1-7 Lower risk (Potentially lower reward) – Higher risk (Potentially higher reward): This Sub-Fund is in category 4.
Fees: One-off charges taken before or after you invest: N/A, Charges taken from the fund over a year: 0.25%, Charges taken from the fund under certain specific conditions: N/A.
This is a marketing communication. Please refer to the Prospectus of the Fund/s and the Key Information Document (KID) or UK Key Investor Information Document (KIID) (as applicable) before making any final investment decisions.
Documents providing further detailed information about the fund/s, including the articles of association, prospectus, supplement and the Key Information Document (KID) or UK Key Investor Information Document (KIID) (as applicable), annual/semi-annual report (as applicable), and a summary of your investor rights, are available free of charge in English language and as required, in your local language by navigating to your local language landing page via https://www.gsam.com/content/gsam/ain/en/advisors/literature-and-forms/literature.html and also from the fund’s paying and information agents. If GSAMFSL, the management company, decides to terminate its arrangement for marketing the fund/s in any EEA country where it is registered for sale, it will do so in accordance with the relevant UCITS rules.
The Goldman Sachs Alpha Enhanced Europe Equity Active UCITS ETF is an open-ended actively managed Sub-Fund of Goldman Sachs ETF ICAV which is an umbrella fund constituted as an Irish Collective Asset-management Vehicle under the laws of Ireland with segregated liability between sub-funds and authorised by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (as amended)).
The UCITS ETF will publicly disclose its complete holdings on a daily basis. Details of the UCITS ETF’s holdings and full disclosure policy are available at www.gsam.com. The indicative net asset values (iNAVs) are disseminated and are displayed on major market data vendor terminals, including Bloomberg and Reuters.
Offering Documents
This material is provided at your request for informational purposes only and does not constitute a solicitation in any jurisdiction in which such a solicitation is unlawful or to any person to whom it is unlawful. It only contains selected information with regards to the fund and does not constitute an offer to buy shares in the fund. Prior to an investment, prospective investors should carefully read the latest Key Information Document (KID) or UK Key Investor Information Document (KIID) (as applicable) as well as the offering documentation, including but not limited to the fund’s prospectus which contains inter alia a comprehensive disclosure of applicable risks. The relevant articles of association, prospectus, supplement, KID or KIID and latest annual/semi-annual report are available free of charge from the fund’s paying and information agent and/or from your financial adviser. Investors should be aware that the price of Shares may fall as well as rise and investors may not get back any of the amount invested. The difference at any one time between the subscription and redemption price of Shares means that an investment in any Sub-Fund should be viewed as long term.
Distribution of the Fund
The fund may not have been registered or will not be registered for public distribution in a number of jurisdictions (including but not limited to any Latin American, African or Asian countries). Therefore, the fund must not be marketed or offered in or to residents of any such jurisdictions unless such marketing or offering is made in compliance with applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules and regulations.
Investment Advice and Potential Loss
Financial advisers generally suggest a diversified portfolio of investments. The fund described herein does not represent a diversified investment by itself. This material must not be construed as investment or tax advice. Prospective investors should consult their financial and tax adviser before investing in order to determine whether an investment would be suitable for them. An investor should only invest if he/she has the necessary financial resources to bear a complete loss of this investment.
Investment Not Insured
Investment into the fund is not insured or guaranteed by any Government agency, including the Federal Deposit Insurance Company, and is not the same as placing funds on deposit with a bank or deposit-taking company.
Redemptions
As a UCITS ETF, a Sub-Fund’s Shares purchased on the Secondary Market cannot usually be sold directly back to the Sub-Fund by investors who are not Authorised Participants. Generally, investors who are not Authorised Participants must buy and sell shares on a Secondary Market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees and additional taxes in doing so. In addition, as the market price at which the Shares are traded on the Secondary Market may differ from the Net Asset Value per Share, investors may pay more than the then current Net Asset Value when buying shares and may receive less than the current Net Asset Value when selling them.
Goldman Sachs India Equity Portfolio
Investment Objective and Policy: The Portfolio seeks to provide capital growth over the longer term. For full investment objective and policy details see the Prospectus. There is no guarantee that objectives will be met. The Portfolio will mostly hold shares or similar instruments relating to Indian companies. Such companies are either based in or earn most of their profits or revenues from India. The Portfolio may also invest in companies which are based anywhere in the world. The Portfolio will not invest more than one-third of its assets in bonds issued by corporate or government entities, convertibles (securities that can be converted into other types of securities), money market instruments and non-share related instruments.
Type of Assets in Which Fund May Invest: The Portfolio will, under normal circumstances, invest at least two thirds of its net assets in equity and/or equity related Transferable Securities and Permitted Funds which provide exposure to companies that are domiciled in, or which derive the predominant proportion of their revenues or profits from India.
Actively or Not Actively Managed Against Benchmark + Degree of Freedom from Benchmark: The Portfolio is actively managed and references the MSCI India IMI Index (Net TR) (USD) (the “Benchmark”) for the purposes of setting discretionary internal risk thresholds which may reference deviations from the Benchmark. The Investment Adviser has full discretion over the composition of the assets in the Portfolio. While the Portfolio will generally hold assets that are components of the Benchmark, it can invest in such components in different proportions, and it can hold assets which are not components of the Benchmark. Therefore, returns may deviate materially from the performance of the specified reference Benchmark.
SFDR: Article 8
Risk: The risk of this fund is set at 4 (on a scale of 1 - lower risk to 7 - higher risk). The risk indicator assumes you keep the product for the Recommended Holding Period of 5 years. The actual risk can vary significantly if you cash in at an early stage and you may get back less. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because the Portfolio is not able to pay you. We have classified this Portfolio as 4 out of 7, which is a medium risk class. This rates the potential losses from future performance at a medium level, and poor market conditions could impact the Portfolio's capacity to pay you. Be aware of currency risk. In some circumstances, you may receive payments in a different currency, so the final return you will get depend on the exchange rate between the two currencies. This risk is not considered in the indicator shown above. Other Material Risks relevant to the Portfolio not included in the summary risk indicator are set out in the Prospectus. This product does not include any protection from future market performance so you could lose some or all of your investment. If the Fund is not able to pay you what is owed, you could lose your entire investment.
The prospectus, the Key Information Document (KID) or UK Key Investor Information Document (KIID) (as applicable), information on sustainability-related aspects of the fund (such as the SFDR classification), and other legally required documents relating to the fund (containing information about the fund, the costs and the risks involved) are available on www.gsam.com/responsible-investing in the relevant languages of the countries where the fund is registered or notified for marketing purposes. Goldman Sachs Asset Management B.V. may decide to terminate the arrangements made for the marketing of the fund in accordance with article 93a UCITS Directive and article 32a AIFM Directive as implemented in Dutch law in article 2:121ca and 2:124.0a Wft. Information about investor rights and collective redress mechanisms are available on www.gsam.com/responsible-investing. Investment sustains risk. The decision to invest in a fund should take into account all the characteristics, objectives, and associated risks of a fund as described in the prospectus. The investment promoted concerns the acquisition of units or shares in a fund, and not in an underlying asset in which the fund invests. Please note that the value of any investment may rise or fall and that past performance is not indicative of future results and should in no event be deemed as such. A return on investment may increase or decrease as a result of currency fluctuation.
Fees: One-off charges taken before or after you invest: Entry Costs: We do not charge an entry fee. Exit Costs: We do not charge an exit fee for this product, but the person selling you the product may do so. Charges taken from the fund over a year: Management fees and other administrative or operating costs: 0.97% 0.97% of the value of your investment per year. This percentage is based on actual costs over the last year. Transaction costs: 0.32% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell. Incidental costs taken under specific conditions: Performance fees (and carried interest): There is no performance fee for this product.
The fees are the fees the fund charges to investors to cover the costs of running the Fund, which will impact on the overall return which an investor receives. Additional costs, including transaction fees, will also be incurred. These costs are paid out by the Fund, which will impact on the overall return of the Fund. Fund charges will be incurred in multiple currencies, meaning that payments may increase or decrease as a result of currency exchange fluctuations. All charges will be paid out by the Fund, which will impact on the overall return of the Fund. Any future returns will be subject to tax which depends on the personal tax situation of each investor, which may change over time.
Important Information
There is no guarantee that objectives will be met.
Equity investments are subject to market risk, which means that the value of the securities in which it invests may go up or down in response to the prospects of individual companies, particular sectors and/or general economic conditions. Different investment styles (e.g., “growth” and “value”) tend to shift in and out of favor, and, at times, the strategy may underperform other strategies that invest in similar asset classes. The market capitalization of a company may also involve greater risks (e.g. "small" or "mid" cap companies) than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements, in addition to lower liquidity.
Emerging markets investments may be less liquid and are subject to greater risk than developed market investments as a result of, but not limited to, the following: inadequate regulations, volatile securities markets, adverse exchange rates, and social, political, military, regulatory, economic or environmental developments, or natural disasters.
International securities may be more volatile and less liquid and are subject to the risks of adverse economic or political developments. International securities are subject to greater risk of loss as a result of, but not limited to, the following: inadequate regulations, volatile securities markets, adverse exchange rates, and social, political, military, regulatory, economic or environmental developments, or natural disasters.
Different “factor” investment styles (e.g., “momentum”, “value” or “low volatility”) tend to shift in and out of favor depending upon market and economic conditions as well as investor sentiment. There is no guarantee that the use of these quantitative models will result in outperformance of an investment relative to the market or relevant benchmark. The value of investments and the income derived from investments will fluctuate (can go down as well as up), and a loss of principal may occur.
Mutual funds are subject to various risks, as described fully in each Fund’s prospectus. There can be no assurance that the Funds will achieve their investment objectives. The Funds may be subject to style risk, which is the risk that the particular investing style of the Fund (i.e., growth or value) may be out of favor in the marketplace for various periods of time.
Documents providing further detailed information about the fund/s, including the articles of incorporation, prospectus, supplement and the Key Information Document (KID) or UK Key Investor Information Document (KIID) (as applicable), annual/semi-annual report (as applicable), and a summary of your investor rights, are available free of charge in English language and as required, in your local language by navigating to your local language landing page via am.gs.com/policies-and-governance and also from the fund’s paying and information agents. If GSAM B.V., the management company, decides to terminate its arrangement for marketing the fund/s in any EEA country where it is registered for sale, it will do so in accordance with the relevant UCITS rules. Information about investor rights and collective redress mechanisms are available on am.gs.com/policies-and-governance.
Offering Documents
This material is provided at your request for informational purposes only and does not constitute a solicitation in any jurisdiction in which such a solicitation is unlawful or to any person to whom it is unlawful. It only contains selected information with regards to the fund and does not constitute an offer to buy shares in the fund. Prior to an investment, prospective investors should carefully read the latest Key Information Document (KID) or UK Key Investor Information Document (KIID) (as applicable) as well as the offering documentation, including but not limited to the fund’s prospectus which contains inter alia a comprehensive disclosure of applicable risks.
Distribution of Shares
Shares of the fund may not be registered for public distribution in a number of jurisdictions (including but not limited to any Latin American, African or Asian countries). Therefore, the shares of the fund must not be marketed or offered in or to residents of any such jurisdictions unless such marketing or offering is made in compliance with applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules and regulations.
Investment Advice and Potential Loss
Financial advisers generally suggest a diversified portfolio of investments. The fund described herein does not represent a diversified investment by itself. This material must not be construed as investment or tax advice. Prospective investors should consult their financial and tax adviser before investing in order to determine whether an investment would be suitable for them. An investor should only invest if he/she has the necessary financial resources to bear a complete loss of this investment.
Swing Pricing
Please note that Goldman Sachs Small Cap Growth Fund, Goldman Sachs International Equity Insights Fund, and Goldman Sachs International Equity Income Fund operate a swing pricing policy. Investors should be aware that from time to time this may result in the fund performing differently compared to the reference benchmark based solely on the effect of swing pricing rather than price developments of underlying instruments.
Please note that for the purposes of the European Sustainable Finance Disclosure Regulation (“SFDR”), this product is not an Article 8 or 9 product. Please note that this material includes certain information on Goldman Sachs’s sustainability practices and track record at an organizational and investment team level, which may not necessarily be reflected in the portfolio of any product(s) you invest in. Please refer to the offering documents of any product(s) prior to investment, for details on how and the extent to which the product(s) takes ESG considerations into account on a binding or non-binding basis.
Please note that for the purposes of the European Sustainable Finance Disclosure Regulation (“SFDR”), the product is an Article 8 product that promotes environmental and social characteristics. Please note that this material includes certain information on Goldman Sachs sustainability practices and track record, at an organizational and investment team level, which may not necessarily be reflected in the portfolio. Any ESG characteristics, views, assessments, claims or similar referenced herein (i) will be based on, and limited to, the consideration of specific ESG attributes or metrics related to a product, issuer or service and not their broader or full ESG profile, and unless stated otherwise, (ii) may be limited to a point of time assessment and may not consider the broader lifecycle of the product, issuer or service, and (iii) may not consider any potential negative ESG impacts arising from or related to the product, issuer or service. Please refer to the offering documents of any product(s) prior to investment, for details on how and the extent to which the product(s) takes ESG considerations into account on a binding or non-binding basis.
THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO.
Prospective investors should inform themselves as to any applicable legal requirements and taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant.
This material is provided for educational and informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client’s account should or would be handled, as appropriate investment strategies depend upon the client’s investment objectives.
Capital is at risk.
Past performance does not guarantee future results, which may vary. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information discusses general market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investment advice. This material has been prepared by Goldman Sachs Asset Management and is not financial research nor a product of Goldman Sachs Global Investment Research (GIR). It was not prepared in compliance with applicable provisions of law designed to promote the independence of financial analysis and is not subject to a prohibition on trading following the distribution of financial research. The views and opinions expressed may differ from those of Goldman Sachs Global Investment Research or other departments or divisions of Goldman Sachs and its affiliates. Investors are urged to consult with their financial advisors before buying or selling any securities. This information may not be current and Goldman Sachs Asset Management has no obligation to provide any updates or changes.
Views and opinions expressed are for informational purposes only and do not constitute a recommendation by Goldman Sachs Asset Management to buy, sell, or hold any security. Views and opinions are current as of the date of this publication and may be subject to change, they should not be construed as investment advice.
Individual portfolio management teams for Goldman Sachs Asset Management may have views and opinions and/or make investment decisions that, in certain instances, may not always be consistent with the views and opinions expressed herein.
In the United Kingdom, this material is a financial promotion and has been approved by Goldman Sachs Asset Management International, which is authorized and regulated in the United Kingdom by the Financial Conduct Authority.
European Union: This marketing communication is disseminated by Goldman Sachs Asset Management B.V., including through its branches (“GSAM BV”). GSAM BV is authorised and regulated by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, Vijzelgracht 50, 1017 HS Amsterdam, The Netherlands) as an alternative investment fund manager (“AIFM”) as well as a manager of undertakings for collective investment in transferable securities (“UCITS”). Under its licence as an AIFM, the Manager is authorized to provide the investment services of (i) reception and transmission of orders in financial instruments; (ii) portfolio management; and (iii) investment advice. Under its licence as a manager of UCITS, the Manager is authorized to provide the investment services of (i) portfolio management; and (ii) investment advice.
Information about investor rights and collective redress mechanisms are available on am.gs.com/policies-and-governance. Capital is at risk. Any claims arising out of or in connection with the terms and conditions of this disclaimer are governed by Dutch law.
France: FOR PROFESSIONAL USE ONLY (WITHIN THE MEANING OF THE MIFID DIRECTIVE)- NOT FOR PUBLIC DISTRIBUTION. THIS DOCUMENT IS PROVIDED FOR SPECIFIC INFORMATION PURPOSES ONLY IN ORDER TO ENABLE THE RECIPIENT TO ASSESS THE FINANCIAL CHARACTERISTICS OF THE CONCERNED FINANCIAL INSTRUMENT(S) AS PROVIDED FOR IN ARTICLE L. 533-13-1, I, 2° OF THE FRENCH MONETARY AND FINANCIAL CODE AND DOES NOT CONSTITUTE AND MAY NOT BE USED AS MARKETING MATERIAL FOR INVESTORS OR POTENTIAL INVESTORS IN FRANCE.
Switzerland: For Qualified Investor use only – Not for offering or advertising to general public. This is marketing material for financial instruments. The Prospectus, the Key Information Document (KID) or UK Key Investor Information Document (KIID) (as available), the Fund’s offering memorandum or equivalent document, the constitutional documents, the annual reports and, where produced by the Fund, the semi-annual reports of the Fund may be obtained free of charge from the Swiss Representative. In respect of the shares, units or interests offered or advertised in Switzerland to Qualified Investors, the place of performance is at the registered office of the Swiss Representative. The place of jurisdiction is at the registered office of the representative or at the registered office or place of residence of the investor.
Classic GSAM funds:
Swiss Representative: FIRST INDEPENDENT FUND SERVICES LTD., Feldeggstrasse 12, CH-8008 Zurich.
Swiss Paying Agent: GOLDMAN SACHS BANK AG, Bahnhofstrasse 3, 8001 Zurich.
Italy: Messaggio pubblicitario con finalità promozionali. Prima dell'adesione leggere il KID, che il proponente l’investimento deve consegnare prima della sottoscrizione, e il Prospetto disponibile sul sito Internet: https://assetmanagement.gs.com/content/gsam/ita/it/advisors/homepage.html e presso gli intermediari collocatori.
This material is provided for informational purposes only. It is not an offer or solicitation to buy or sell any securities.
The marks CORE® and N-11® are registered service marks of Goldman Sachs & Co. LLC.
This material is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities.