Fund Description

The fund was incepted in August 1997 and is managed by Goldman Sachs Asset Management. The objective of the fund is to seek long-term capital appreciation. The fund invests, under normal circumstances, at least 80% of its net assets in a diversified portfolio of equity investments in midcap issuers with public stock market capitalizations within the range of the market capitalization of companies constituting the Russell Midcap Value Index at the time of investment. Although the fund invests primarily in publicly traded U.S. securities, it may invest up to 25% of its net assets in foreign securities, including securities of issuers in emerging countries and securities quoted in foreign currencies. The fund may invest in the aggregate up to 20% of its net assets in companies with public stock market capitalizations outside the range of companies constituting the Russell Midcap Value Index at the time of investment and in fixed income securities, such as government, corporate and bank debt obligations. Dividends and capital gains are distributed annually.