The fund qualifies as a feeder fund, meaning that the fund invests at least 85% of its assets in Goldman Sachs Global Multi-Asset Income Portfolio (the master fund). The residual assets of the fund (up to 15%) are exclusively invested in ancillary liquid assets (e.g. money market instruments) or held as cash, as may be required from time to time for dealing for liquidity purposes and the payment of costs and expenses of the fund. The fund has the same investment objectives and policy as the master fund. However, the performance of both the fund and the master fund may not be equal due, in particular, to costs and expenses incurred by the fund and residual assets investments. The master fund seeks total returns consisting predominantly of income and with the potential for capital appreciation by investing primarily in equity and fixed income securities, with a focus on higher income yielding securities. The master fund will mostly hold shares or similar instruments relating to companies anywhere in the world and fixed income securities of any type of issuer based anywhere in the world with a focus on higher income yielding, hence below investment grade, fixed income securities. The investment adviser of the master fund will generally seek to hedge the master fund's currency exposure back to the US Dollar. The master fund may also seek to generate income through selling covered call options on equity securities or indices which gives the buyer of such an option the right (but not the obligation) to buy the underlying instrument at a specified price within a specific time period in return for a cash payment to the master fund. For distribution shares of the master fund, the payment of the proceeds of this strategy is intended to be part of the distribution, if any, of the relevant share class at the date on which such distribution is made. If the underlying asset decreases in value, the master fund will make a gain but will make a loss if the underlying asset increases in price. The master fund advisor will seek to implement tactical investment strategies which may regularly adjust the master fund exposures based on prevailing market conditions and short-term or medium-market views. The master fund may invest in convertibles (securities that can be converted into other type of securities). These convertibles may include up to 5% of contingent convertible bonds (“CoCos”) of banks, finance and insurance companies which have a particular risk profile as set out below. The master fund uses derivatives as part of its investment policy to gain exposure to, amongst other things, shares or similar instruments and markets, interest rates, credit, currencies and/or commodities in order to seek to increase return, to leverage the Portfolio and to hedge again certain risks. A significant proportion of the master fund's exposure may be generated through the use of derivatives. A derivative instrument is a contract between two or more parties whose value depends on the rise and fall of the underlying asset. The master fund is actively managed and references the 40% ICE BofA US High Yield BB-B Constrained Index (EUR Hedged) (TR Gross) / 40% MSCI World Index (EUR Hedged) (TR Net) / 20% Bloomberg Global Aggregate – Corporate Index (EUR Hedged) (TR Gross) (the “Index”) for the purposes of setting discretionary internal risk thresholds and/or external risk thresholds which may reference deviations from the Index. The master fund investment adviser has full discretion over the composition of the assets in the master fund. While the master fund will generally hold assets that are components of the Index, it can invest in such components in different proportions, and it can hold assets which are not components of the Index. Therefore returns may deviate materially from the performance of the specified Index. Income is rolled up into the value of your investment. The master fund base currency is USD. The fund will invest in a EUR hedged share class of the master fund. This EUR hedged share class will hedge the USD exposure of the master fund into EUR with the intention to remove all the currency risk. A currency hedge consists of taking an offsetting position in another currency. You can sell or buy 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 aims at providing you with a regular dividend.