Fund Description

The fund seeks its objective by investing in securities or instruments and a combination of underlying funds for which Goldman Sachs Asset Management, L.P. or an affiliate acts as investment adviser or principal underwriter, including equity and fixed income funds. Under normal conditions, at least 80% of total assets are allocated among underlying funds, with at least 80% of net assets plus borrowings in underlying equity funds and equity securities spanning domestic large cap, small cap and international exposure for capital appreciation, with significant use of tax-managed funds. It maintains a small allocation to U.S. investment grade bonds, generally up to 10%, and may invest up to 10% in tactical views using equities, pooled vehicles, fixed income (including non-investment grade) and derivatives; up to 20% may be invested directly, including non-U.S. dollar instruments, and it may establish short positions. It emphasizes tax efficiency and is measured against the TAG Composite Index.