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 and has partial sustainable investments as its 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 Pre-Contractual Document (annex of the prospectus) on https://www.gsam.com/responsible-investing/en-INT/non-professional/funds/documents. The fund applies a flexible and diversified investment approach designed to respond to changing market conditions. Measured over a period of 5 years, the fund aims to achieve returns that exceed EURIBOR 1-month within a strictly defined risk budget and a focus on downside risk mitigation. The fund is actively managed and the benchmark is not used for portfolio construction but for performance measurement purposes only. The fund uses active management to respond to changing market conditions by using amongst others fundamental and behavioural analysis resulting in dynamic asset allocation over time. The fund can invest in various asset classes (such as for example stocks, investment and non-investment grade bonds, cash, indirect real estate and commodities) and can use other financial instruments, such as derivatives, to reach its objectives. The fund cannot invest in physical commodities. The fund can take long and short positions (short positions via derivative instruments only) in order to achieve its objectives. Excluding derivative exposure, the investments in investment grade fixed income investments, Money Market Instruments and cash or cash equivalents will be at least 50% of the net assets. Including derivative exposure, the investments in investment grade fixed income investments, Money Market Instruments and cash or cash equivalents can be lower than 50% of the net assets. The exposure to asset classes other than investment grade fixed income investments, Money Market Instruments and cash or cash equivalents can exceed 50% of the net assets by using leverage, subject to the maximum expected level of net leverage. The fund may also, up to 20% of its net assets, in China A through Stock Connect and Chinese debt through Bond Connect. The Sub-Fund promotes environmental and/or social characteristics, as described in Article 8 of the SFDR, by defining for the main part of the investments the materiality of environmental, social and governance (ESG) risks and opportunities. This information is integrated by the Sub-Fund in its investment process based on the Management Company’s ESG Integration approach. The ESG integration approach may be limited by the quality and availability of the data disclosed by issuers or provided by third parties. For direct investments in equities and corporate bonds the Sub-Fund aims to achieve a carbon intensity that is lower than the relevant investment universes. For direct investments in sovereign debt securities issued by developed countries with an investment grade rating, the Sub-Fund aims to achieve an ESG Rating that is better than the ESG Rating of the relevant developed countries investment grade sovereign bond universe. 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.