Fund Description

The fund was incepted in August 1997 and is managed by Goldman Sachs Asset Management. The fund seeks a high level of current income and may also consider the potential for capital appreciation. The fund invests at least 80% of its net assets in high-yield, fixed-income securities that, at the time of purchase, are non-investment grade securities. The fund may invest up to 25% of its total assets in obligations of domestic and foreign issuers that are denominated in currencies other than the U.S. dollar and in securities of issuers located in emerging countries denominated in any currency. Dividends are declared daily and paid monthly. Capital gains are distributed annually.