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 a total return consisting of capital appreciation and income that exceeds the total return of the Lehman Brothers Aggregate Bond Index. The fund invests, under normal circumstances, at least 80% of its net assets in fixed-income securities, including U.S. government securities, corporate debt securities, privately issued mortgage-backed securities and asset-backed securities. The fund may also invest in custodial receipts, municipal securities and convertible securities. The fund may invest 25% of its assets in non-U.S. dollar denominated obligations, of which 10% may be invested in obligations of issuers in countries with emerging markets or economies. In pursuing its investment objective, the fund uses the Lehman Brothers Aggregate Bond Index as its performance benchmark, but the fund does not attempt to replicate the Index. The fund may, therefore, invest in securities that are not included in the Index. Dividends are declared daily and paid monthly. Capital gains are distributed annually.