The fund seeks capital appreciation in the long term by investing in mega-and large-size companies in the United States.

The investment process relies on fundamental analysis to identify high quality businesses with sustainable growth models and attractive franchise, and operated by management teams with proven track record.

The investment team looks to purchase these high quality business franchises at reasonable valuation levels.

Then the research team evaluates a company’s discounted free cash flow, relative multiples and private market value.

Other factors in consideration include favorable long-term prospects and valuation of companies when selecting securities.

The Investment team also integrates environmental, social and governance factors as part of its fundamental research process.

Then the manager constructs a broadly diversified portfolio from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in both value and growth companies.

The fund may invest up to 25% of its net assets in foreign securities, including securities of issuers in countries with emerging markets or economies and securities quoted in foreign currencies.

The fund seeks capital appreciation in the long term by investing in companies across market capitalizations in the United States.

The disciplined investment process is designed to identify high quality growth businesses. Next, the research team evaluates companies on the basis of stock price, momentum, sector rotation, or current quarterly earnings.

In addition, the team considers companies exhibiting characteristics such as advancing communications, global energy supply/demand imbalance, demographic trends, expanding global markets and technological advances in healthcare.

The manager also focuses on companies with sustainable growth, including strong business franchises, favorable long-term prospects, and excellent management.

The fund has the flexibility to invest up to 25% of its net assets in securities of foreign issuers.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of emerging country issuers.

Emerging countries are generally located in Africa, Asia, the Middle East, Central and Eastern Europe and Central and South America.

The team prefers companies that are well-positioned with cash-generating businesses run by shareholder-oriented management teams.

Also, the research team integrates environmental, social and governance factors as part of its process.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

In addition, the fund invests in at least six emerging countries.

The fund may invest in the aggregate up to 20% of its net assets in fixed income securities of private and government emerging country issuers, and equity and fixed income securities, such as government, corporate and bank debt obligations, of developed country issuers.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in one or more issuers or in fewer issuers than a diversified fund.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of emerging country issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality companies that are trading at attractive valuations which are estimated to lead to superior performance over the long-run.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team focuses on stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund maintains investments in at least six emerging countries.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

The fund seeks capital appreciation in the long term and current income by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities or instruments and a combination of underlying funds that currently exist or that may become available for investment in the future.

Some of the Underlying Funds invest primarily in fixed income or money market instruments (the Underlying Fixed Income Funds) and other Underlying Funds invest primarily in equity securities (the Underlying Equity Funds).

The Underlying Funds seek to invest in high dividend paying stocks and estimate to achieve dividends in excess of their respective benchmarks.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

Also, the fund may invest directly in other securities and instruments, including affiliated and/or unaffiliated exchange traded funds.

Additionally, the fund will invest significantly in the Goldman Sachs U.S. Equity Dividend and Premium Fund and Goldman Sachs International Equity Dividend and Premium Fund.

In addition, the fund may invest in U.S. investment grade bonds.

Also, the fund invests approximately 10% of its net assets in the Goldman Sachs Tactical Tilt Overlay Fund (the Underlying Tactical Fund).

The fund may invest up to 20% of its net assets directly in securities and other instruments, including derivative instruments.

The fund seeks capital appreciation in the long term and growth of income by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in equity investments that exhibit favorable prospects for capital appreciation and/or dividend-paying ability.

The team screens companies on the basis of valuation, profitability and business characteristics.

Also, the team conducts in-depth company research and assesses overall business quality as part of the fundamental investment process.

The team prefers companies that pay dividends or other current distributions.

Also, the research team integrates environmental, social and governance factors as part of its process.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest up to 25% of its net assets in foreign securities, including securities of issuers in countries with emerging markets or economies and securities quoted in foreign currencies. 

Also, the fund may invest up to 20% of its net assets in fixed income securities, such as government, corporate and bank debt obligations.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of emerging country issuers that adhere to the fund’s environmental, social and governance factors.

Emerging countries are generally located in Africa, Asia, the Middle East, Central and Eastern Europe and Central and South America.

The research process is driven by fundamental analysis of one stock at a time.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

Furthermore, the fund may also invest up to 20% of its net assets in fixed income securities of private and government emerging country issuers, or equity and fixed income securities, such as government, corporate and bank debt obligations, of developed country issuers, and equity and fixed income securities of issuers that may not adhere to the fund’s ESG criteria.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in one or more issuers or in fewer issuers than a diversified fund.

The fund seeks capital appreciation in the long term by investing in companies across any size in the United States.

The investment process relies on fundamental analysis to identify high quality businesses with sustainable growth models and attractive franchise, and operated by management teams with proven track record.

The research team combines fundamental research and quantitative factors to identify potential investment opportunities.

Then the team evaluates a company on the basis of quantitative factors, such as quality, valuation and volatility.

Other factors in consideration include favorable long-term prospects of companies when selecting securities.

The Investment team also integrates environmental, social and governance factors as part of its fundamental research process.

Then the manager constructs a broadly diversified portfolio from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund may invest up to 25% of its net assets in foreign securities, including securities of issuers in countries with emerging markets or economies and securities quoted in foreign currencies.

The fund may invest up to 20% of its net assets in fixed income securities including high yield fixed income securities, such as government, corporate and bank debt obligations.

The fund seeks capital appreciation in the long term by investing in companies across any size in the United States.

The investment process is designed to identify companies at attractive valuations with near-term catalysts for positive change, such as improving balance sheets and capable management teams.

The investment process starts with a list of companies in the benchmark and narrows the list using preferred financial metrics including valuation criteria on earnings, cash flows and past and future growth expectations.

Next, the research team narrows the list of investable companies on the basis of valuation, profitability and business characteristics.

In addition, the team conducts in-depth company by company research to identify economic value and assess overall business quality.

The investment team constructs a portfolio from a select list of quality companies with identifiable competitive advantages, and sustainable growth potential, whose intrinsic value is not reflected in the stock price.

The focused portfolio holds 20 to 40 high quality value businesses and no one factor or consideration is determinative in the stock selection process.

The fund has the flexibility to invest up to 20% of its net assets in securities of foreign issuers, which may include investments in emerging markets and securities quoted in foreign currencies.

The fund seeks total return by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of issuers that are engaged in or related to the infrastructure group of industries (infrastructure companies).

An issuer is engaged in or related to the infrastructure group of industries if it is involved in the ownership, development, construction, renovation, financing, management, sale or operation of infrastructure assets.

Also, the team considers an issuer is engaged in or related to the infrastructure group of industries if it provides the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include utilities, energy, transportation, real estate, media, telecommunications and capital goods.

Also, the research team integrates environmental, social and governance factors as part of its process.

The research process is driven by fundamental analysis of one stock at a time.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will invest in the securities of infrastructure companies that are economically tied to at least three countries, including the United States.

Also, the fund will invest in the securities of infrastructure companies that are economically tied to developed countries in North America and Europe.

In addition, the fund may also invest in the securities of infrastructure companies that are economically tied to countries with emerging markets or economies.

The fund may invest in real estate investment trusts, and may also invest up to 20% of its net assets in master limited partnerships and up to 20% of its net assets in issuers that are not infrastructure companies.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

The fund seeks total return by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in issuers that are primarily engaged in or related to the real estate industry within and outside the United States

 An issuer is primarily engaged in or related to the real estate industry if it derives at least 50% of its gross revenues or net profits from the ownership, development, construction, financing, management or sale of commercial, industrial or residential real estate or interests therein.

Real estate industry companies may include real estate investment trusts, REIT-like structures, or real estate operating companies whose businesses and services are related to the real estate industry.

The team focuses on companies that can achieve durable growth in cash flow and dividend paying capability over time.

Also, the research team integrates environmental, social and governance factors as part of its process.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will invest in securities of real estate industry companies that are economically tied to at least three countries, including the United States.

Generally, the fund invests in securities of real estate industry companies that are economically tied to the United States, Japan, the United Kingdom, Australia, Hong Kong, Singapore, Canada and Continental Europe.

In addition, the fund may invest in securities of real estate industry companies that are economically tied to countries with emerging markets or economies, including Central American, South American, African, Middle Eastern, and certain Asian and Eastern European countries.

The fund may also invest up to 20% of its net assets in issuers that are not real estate industry companies, or fixed income investments, such as government, corporate and bank debt obligations.

The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of non-U.S. issuers. According to the team, a non-U.S. issuer is an issuer economically tied to a country other than the United States.

The team selects companies that demonstrate favorable economic prospects over the long term, and looks to buy them at a reasonable price.

Also, the team believes companies with superior fundamental business characteristics will outperform peers over a full market cycle.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund intends to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund may invest in shares of companies through initial public offerings.

Additionally, the fund may also invest in fixed income securities, such as government, corporate and bank debt obligations.
 

The fund seeks capital appreciation in the long term by investing in mid-size companies in the United States.

The investment process is designed to highlight companies in the benchmark index that demonstrate long-term growth potential.

The Investment team integrates environmental, social and governance factors as part of its research process.

Then the research team utilizes fundamental analysis to identify high-quality businesses with sustainable growth models and attractive franchises, favorable long-term prospects, and operated by management teams with proven track record.

The team also considers valuation of companies in the stock selection process.

Then the manager constructs a broadly diversified portfolio from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund may invest up to 25% of its net assets in foreign securities, including securities of issuers in countries with emerging markets or economies and securities quoted in foreign currencies.

The fund may also invest in privately held companies and companies that only recently began to trade publicly.

The fund seeks to maximize total return by investing in mega-and large-size companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team looks for high-quality, dividend-paying companies.

The team looks to generate cash flow by investing in higher dividend-paying stocks and earning premiums from the sale of call options on international markets.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

Additionally, the fund’s investments in fixed income securities are limited to cash equivalents.

The fund invests in companies that are economically tied to at least three countries, not including the United States, and may invest in securities of issuers economically tied to emerging market countries.
 

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of non-U.S. issuers that adhere to environmental, social and governance factors.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The portfolio holds approximately 30 to 50 companies that exhibit capital growth potential over the long term.

Also, the fund invests in companies based in at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invest a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Japan, but may also invest in securities of issuers located in emerging market countries.

Furthermore, the fund may also invest up to 20% of its net assets in securities that may not adhere to its ESG criteria and in fixed income securities, such as government, corporate and bank debt obligations.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

The fund seeks capital appreciation in the long term and growth of income by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team looks for well-positioned, dividend-paying companies that exhibit the potential to generate cash and operated by management teams aligned with shareholders’ interests.

Also, the research team integrates environmental, social and governance factors as part of its process.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The manager invests in companies that are economically tied to at least three countries, not including the United States, and may invest in securities of issuers economically tied to emerging market countries.

Additionally, the fund invests a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Australia, Japan and New Zealand.

In addition, the fund may also invest in the securities of issuers located in emerging countries. The fund’s investments in a particular developed country may exceed 25% of its investment portfolio.

The fund may also invest in fixed income securities, such as government, corporate and bank debt obligations.

The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The manager looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

The fund seeks capital appreciation in the long term by investing in companies in the United States.

The investment process is designed to highlight well-established businesses that have the potential to generate strong returns at attractive valuations. The process considers companies that adhere to the fund’s environmental, social and governance criteria.

Next, the team conducts a supplemental analysis of a company’s corporate governance and environmental and social factors that may vary by sector.

The research process is driven by fundamental analysis of one stock at a time. The research team assesses the sustainability of a company’s balance sheet, earnings and cash flows.

The process also includes talking with company management teams to foster best corporate governance practices.

The fund avoids companies that are involved in, and/or derive significant revenue from industries or product lines, including gambling, alcohol, tobacco, coal, and weapons.

In addition, the manager seeks to avoid what it believes to be structurally unattractive market segments or companies that demonstrate weak corporate governance.

The fund may also invest up to 20% of its net assets in companies that may not adhere to the fund’s ESG criteria, in securities of foreign issuers, and in fixed income securities.