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390.328 613.396 l
386.795 614.611 l
383.6 616.69 l
380.062 615.826 l
376.525 616.312 l
373.101 618.013 l
369.558 614.854 l
366.135 612.964 l
362.597 613.045 l
359.059 611.56 l
355.636 612.046 l
352.098 610.723 l
348.674 607.591 l
345.141 607.834 l
341.946 604.918 l
338.408 603.352 l
334.871 598.546 l
331.447 597.979 l
327.905 596.278 l
324.481 598.789 l
320.943 593.713 l
317.405 587.503 l
313.982 592.039 l
310.444 590.257 l
307.021 586.423 l
303.488 578.971 l
300.178 582.616 l
296.64 586.288 l
293.103 591.283 l
289.679 589.366 l
286.137 582.535 l
282.713 588.151 l
279.175 591.121 l
275.637 588.961 l
272.214 592.444 l
268.676 591.337 l
265.253 590.527 l
261.72 589.285 l
258.524 583.318 l
254.986 579.457 l
251.449 579.646 l
248.025 578.134 l
244.483 578.998 l
241.059 582.67 l
237.521 581.482 l
233.984 582.103 l
232.5 579.889 l
S
1 0.84 0.31 0.17 K
[4 2 ]0 d
508.676 663.724 m
505.138 662.104 l
501.6 659.161 l
498.177 644.743 l
494.634 643.663 l
491.211 645.58 l
487.673 640.936 l
484.135 635.185 l
480.712 628.84 l
477.174 619.471 l
473.75 602.434 l
470.217 646.903 l
466.908 653.167 l
463.37 652.195 l
459.832 648.523 l
456.409 645.337 l
452.866 645.148 l
449.443 645.526 l
445.905 643.42 l
442.367 640.936 l
438.944 633.322 l
435.406 637.912 l
431.987 633.295 l
428.449 629.839 l
425.254 624.169 l
421.716 617.338 l
418.178 618.823 l
414.755 625.276 l
411.212 628.786 l
407.789 627.949 l
404.251 628.354 l
400.713 623.737 l
397.29 624.979 l
393.752 628.975 l
390.328 626.95 l
386.795 627.625 l
383.6 629.758 l
380.062 628.381 l
376.525 628.489 l
373.101 629.488 l
369.558 626.059 l
366.135 624.412 l
362.597 623.575 l
359.059 620.74 l
355.636 619.903 l
352.098 617.122 l
348.674 613.855 l
345.141 613.666 l
341.946 610.534 l
338.408 608.212 l
334.871 602.893 l
331.447 605.242 l
327.905 602.974 l
324.481 604.27 l
320.943 598.951 l
317.405 592.12 l
313.982 593.443 l
310.444 592.876 l
307.021 587.665 l
303.488 577.702 l
300.178 580.186 l
296.64 583.183 l
293.103 588.853 l
289.679 587.044 l
286.137 579.403 l
282.713 585.505 l
279.175 587.962 l
275.637 584.992 l
272.214 589.879 l
268.676 589.177 l
265.253 587.584 l
261.72 587.584 l
258.524 582.184 l
254.986 579.187 l
251.449 580.024 l
248.025 577.486 l
244.483 577.135 l
241.059 580.159 l
237.521 578.512 l
233.984 579.457 l
232.5 579.889 l
S
0 0.97 1 0.5 K
[]0 d
508.676 664.804 m
505.138 663.4 l
501.6 660.376 l
498.177 642.016 l
494.634 643.015 l
491.211 645.796 l
487.673 640.558 l
484.135 633.862 l
480.712 624.817 l
477.174 613.801 l
473.75 592.903 l
470.217 648.82 l
466.908 653.734 l
463.37 653.302 l
459.832 648.712 l
456.409 645.877 l
452.866 645.958 l
449.443 645.526 l
445.905 642.907 l
442.367 639.397 l
438.944 631.567 l
435.406 635.455 l
431.987 630.109 l
428.449 627.274 l
425.254 621.172 l
421.716 614.233 l
418.178 617.122 l
414.755 622.576 l
411.212 627.841 l
407.789 627.409 l
404.251 626.842 l
400.713 621.685 l
397.29 623.953 l
393.752 628.3 l
390.328 625.357 l
386.795 626.923 l
383.6 629.623 l
380.062 628.057 l
376.525 628.138 l
373.101 628.408 l
369.558 625.141 l
366.135 623.71 l
362.597 623.575 l
359.059 620.659 l
355.636 620.254 l
352.098 617.446 l
348.674 614.098 l
345.141 614.152 l
341.946 610.669 l
338.408 609.211 l
334.871 601.84 l
331.447 604.864 l
327.905 602.461 l
324.481 604.837 l
320.943 599.437 l
317.405 592.795 l
313.982 594.766 l
310.444 593.443 l
307.021 589.366 l
303.488 579.619 l
300.178 582.886 l
296.64 586.234 l
293.103 590.959 l
289.679 588.772 l
286.137 581.644 l
282.713 587.125 l
279.175 590.5 l
275.637 587.692 l
272.214 592.363 l
268.676 592.309 l
265.253 590.797 l
261.72 590.392 l
258.524 584.452 l
254.986 580.834 l
251.449 581.725 l
248.025 579.835 l
244.483 579.106 l
241.059 580.51 l
237.521 578.188 l
233.984 579.43 l
232.5 579.889 l
S
q
226.5 497.389 8 35.5 re
W n
3 w
226.5 532.889 m
234.5 532.889 l
S
Q
BT
8 0 0 8 237.5 526.8892 Tm
0 0 0 1 k
-0.025 Tc
(Goldman Sachs ESG-Enhanced )Tj
0 -1.25 TD
(Europe High Yield Bond )Tj
T*
(Portfolio - Class I Shares \(Acc.\))Tj
/F2 1 Tf
4 0 0 4 330.884 509.9892 Tm
-0.05 Tc
(\(5\))Tj
ET
q
337.5 497.389 4 35.5 re
W n
1 0.84 0.31 0.17 K
3 w
337.5 532.889 m
341.5 532.889 l
S
Q
q
343.5 497.389 4 35.5 re
W n
1 0.84 0.31 0.17 K
3 w
343.5 532.889 m
347.5 532.889 l
S
Q
BT
/F1 1 Tf
8 0 0 8 350.5 526.8892 Tm
-0.025 Tc
(ICE BofA European Currency )Tj
T*
(High Yield Constrained Index )Tj
T*
(\(TR, 100% hedged to EU)Tj
/F2 1 Tf
4 0 0 4 421.644 509.9892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
450.5 497.389 8 35.5 re
W n
0 0 0 0.5 K
3 w
450.5 532.889 m
458.5 532.889 l
S
Q
BT
/F1 1 Tf
8 0 0 8 461.5 526.8892 Tm
-0.025 Tc
(Morningstar EUR High Yield )Tj
T*
(Bond)Tj
/F2 1 Tf
4 0 0 4 477.588 519.9892 Tm
-0.05 Tc
(\(2\))Tj
8 0 0 8 212.5 491.3893 Tm
0 Tc
(This is an actively managed fund that is not designed to track its reference benchmark. Therefore the performance of the )Tj
T*
(fund and the performance of its reference benchmark may diverge. In addition stated reference benchmark returns do not )Tj
T*
(reect any management or other charges to the fund, whereas stated returns of the fund do.)Tj
/F5 1 Tf
33.316 0 TD
( Past performance does not )Tj
-33.316 -1.25 TD
[(guarantee future results, which may vary)37(. The value of investments and the income derived from investments )]TJ
T*
[(will uctuate and can go down as well as up. A loss of capital may occur)70(.)]TJ
ET
q
212.5 422.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 438.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 427.8893 Tm
0 0 0 0 k
-0.015 Tc
(Performance Summary \(%\))Tj
/F5 1 Tf
8 0 0 8 398.052 410.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Cumulative)-9389(Annualised)]TJ
/F2 1 Tf
-6.419 -1.625 TD
[(Since Launch)-1709(1 Mth)-1345(3 Mths)-2325(YTD)]TJ
ET
q
477.5 393.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 406.389 m
481.5 381.389 l
S
Q
BT
8 0 0 8 491.748 397.8893 Tm
(1 Y)Tj
ET
q
0.2 i
482.5 393.389 20 11 re
W n
BT
8 0 0 8 500.476 397.8893 Tm
0 Tc
(r)Tj
ET
Q
BT
8 0 0 8 518.836 397.8893 Tm
[(3 Yrs)-2042(5 Yrs)]TJ
ET
q
212.5 380.389 130 13 re
W n
0.132 0.08 0.028 0 k
212.5 393.389 130 -13 re
f
Q
BT
8 0 0 8 217.5 384.8892 Tm
(Class I Shares \(Acc.\))Tj
4 0 0 4 271.948 388.3892 Tm
-0.05 Tc
(\(5\))Tj
ET
q
342.5 380.389 45 13 re
W n
0.132 0.08 0.028 0 k
342.5 393.389 45 -13 re
f
Q
BT
8 0 0 8 367.516 384.8892 Tm
-0.025 Tc
(31.45)Tj
ET
q
387.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
387.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 400.868 384.8892 Tm
(0.40)Tj
ET
q
417.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
417.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 430.868 384.8892 Tm
(6.86)Tj
ET
q
447.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
447.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 460.868 384.8892 Tm
(0.40)Tj
ET
q
477.5 380.389 5 13 re
W n
0.132 0.08 0.028 0 k
477.5 393.389 5 -13 re
f
0 0 0 1 K
1 w [2 2 ]2 d
481.5 393.389 m
481.5 368.389 l
S
Q
q
482.5 380.389 25 13 re
W n
0.132 0.08 0.028 0 k
482.5 393.389 25 -13 re
f
Q
BT
8 0 0 8 490.868 384.8892 Tm
(3.21)Tj
ET
q
507.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
507.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 520.868 384.8892 Tm
(3.5)Tj
ET
q
0.2 i
507.5 380.389 25 11 re
W n
BT
8 0 0 8 529.148 384.8892 Tm
0 Tc
(4)Tj
ET
Q
q
537.5 380.389 30 13 re
W n
0.132 0.08 0.028 0 k
537.5 393.389 30 -13 re
f
Q
BT
8 0 0 8 550.868 384.8892 Tm
(5.38)Tj
-41.671 -1.625 TD
(ICE BofA European Currency High Yield )Tj
0 -1.3125 TD
(Constrained Index \(TR, 100% hedged to EU)Tj
4 0 0 4 333.42 364.8892 Tm
-0.05 Tc
(\(4\))Tj
8 0 0 8 367.516 371.8892 Tm
-0.025 Tc
[(31.05)-2296(0.46)-2296(5.67)-2296(0.46)]TJ
ET
q
477.5 356.889 5 23.5 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 380.389 m
481.5 355.389 l
S
Q
BT
8 0 0 8 490.868 371.8892 Tm
[(3.07)-2296(3.42)-2296(5.53)]TJ
ET
0.132 0.08 0.028 0 k
212.5 356.889 130 -13 re
f
BT
8 0 0 8 217.5 348.3892 Tm
0 0 0 1 k
(Morningstar EUR High Yield Bond)Tj
4 0 0 4 308.588 351.8892 Tm
-0.05 Tc
(\(2\))Tj
ET
q
342.5 343.889 45 13 re
W n
0.132 0.08 0.028 0 k
342.5 356.889 45 -13 re
f
Q
q
387.5 343.889 30 13 re
W n
0.132 0.08 0.028 0 k
387.5 356.889 30 -13 re
f
Q
BT
8 0 0 8 400.868 348.3892 Tm
-0.025 Tc
(0.21)Tj
ET
0.132 0.08 0.028 0 k
417.5 356.889 30 -13 re
f
BT
8 0 0 8 430.868 348.3892 Tm
0 0 0 1 k
(4.86)Tj
ET
0.132 0.08 0.028 0 k
447.5 356.889 30 -13 re
f
BT
8 0 0 8 460.868 348.3892 Tm
0 0 0 1 k
(0.21)Tj
ET
q
477.5 343.889 5 13 re
W n
0.132 0.08 0.028 0 k
477.5 356.889 5 -13 re
f
0 0 0 1 K
1 w [2 2 ]2 d
481.5 356.889 m
481.5 331.889 l
S
Q
0.132 0.08 0.028 0 k
482.5 356.889 25 -13 re
f
BT
8 0 0 8 490.868 348.3892 Tm
0 0 0 1 k
(1.31)Tj
ET
0.132 0.08 0.028 0 k
507.5 356.889 30 -13 re
f
BT
8 0 0 8 520.868 348.3892 Tm
0 0 0 1 k
(1.77)Tj
ET
0.132 0.08 0.028 0 k
537.5 356.889 30 -13 re
f
BT
8 0 0 8 550.868 348.3892 Tm
0 0 0 1 k
(3.87)Tj
-41.671 -1.625 TD
(Quartile Position in Sector)Tj
4 0 0 4 287.62 338.8892 Tm
-0.05 Tc
(\(2\))Tj
8 0 0 8 409.148 335.3892 Tm
3.306 Tc
(111)Tj
ET
q
477.5 330.889 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 343.889 m
481.5 318.889 l
S
Q
BT
8 0 0 8 499.148 335.3892 Tm
(111)Tj
ET
q
212.5 308.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 324.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 313.8892 Tm
0 0 0 0 k
-0.015 Tc
(Calendar Year Performance \(%\))Tj
/F2 1 Tf
8 0 0 8 449.092 299.8892 Tm
0 0 0 1 k
-0.025 Tc
[(2016)-1449(2017)-1449(2018)-1449(2019)-1449(2020)]TJ
ET
0.132 0.08 0.028 0 k
212.5 295.389 230 -13 re
f
BT
8 0 0 8 217.5 286.8892 Tm
0 0 0 1 k
(Class I Shares \(Acc.\))Tj
ET
q
442.5 282.389 25 13 re
W n
0.132 0.08 0.028 0 k
442.5 295.389 25 -13 re
f
Q
BT
8 0 0 8 454.22 286.8892 Tm
(8.3)Tj
ET
0.132 0.08 0.028 0 k
467.5 295.389 25 -13 re
f
BT
8 0 0 8 479.22 286.8892 Tm
0 0 0 1 k
(6.3)Tj
ET
q
492.5 282.389 25 13 re
W n
0.132 0.08 0.028 0 k
492.5 295.389 25 -13 re
f
Q
BT
8 0 0 8 502.196 286.8892 Tm
(-4.3)Tj
ET
0.132 0.08 0.028 0 k
517.5 295.389 25 -13 re
f
BT
8 0 0 8 525.868 286.8892 Tm
0 0 0 1 k
(12.8)Tj
ET
q
542.5 282.389 25 13 re
W n
0.132 0.08 0.028 0 k
542.5 295.389 25 -13 re
f
Q
BT
8 0 0 8 554.22 286.8892 Tm
(2.9)Tj
-42.09 -1.625 TD
[(ICE BofA European Currency High Yield Constrained Index \(TR, 100% hedged to EU)-1724(9.1)-2090(6.8)-1837(-3.5)-1671(11.3)-2090(2.9)]TJ
/F5 1 Tf
0 -16.7987 TD
(Please see Additional Notes. All performance and holdings data as at 31-Jan-21.)Tj
0 -1.3125 TD
0 Tc
[(Past performance does not guarantee future results, which may vary)37(.)]TJ
/F2 1 Tf
0 -1.25 TD
[(* W)18(e)0( identify two broad categories of funds to help investors think about how to construct their overall investment )]TJ
T*
[(portfolio. W)18(e)0( describe the following as)]TJ
/F5 1 Tf
14.085 0 TD
( Core)Tj
/F2 1 Tf
2.999 0 TD
(: \(A\) Equity funds with a global investment remit or those mainly focused )Tj
-17.084 -1.25 TD
(on US and European markets, given the size and transparency of these markets. \(B\) Fixed income funds with a global )Tj
T*
(investment remit or those mainly focused on US, European and UK markets and invest predominantly in investment )Tj
T*
(grade debt, including government. \(C\) Multi asset funds with a multi asset benchmark. All other funds we describe as)Tj
/F5 1 Tf
42.368 0 TD
( )Tj
-42.368 -1.25 TD
(Complements)Tj
/F2 1 Tf
6.388 0 TD
(. Both Core and Complement funds can vary in risk level and those terms are not meant to indicate the )Tj
-6.388 -1.25 TD
(risk level of the funds. There is no guarantee that these objectives will be met.)Tj
T*
(For regionally focused investment portfolios we understand that the categorisation may be different from the perspective )Tj
T*
(of different investors.)Tj
/F5 1 Tf
7.775 0 TD
( Consult your nancial adviser before investing to help determine if an investment in this )Tj
ET
q
0.2 i
217.5 24.5 350 110.5 re
W n
BT
8 0 0 8 217.5 29 Tm
(f)Tj
ET
Q
BT
8 0 0 8 219.724 29 Tm
(und and the amount of the investment would be suitable)Tj
/F2 1 Tf
22.61 0 TD
(.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
105.942 52.574 106.042 52.574 106.12 52.595 c
106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
93.618 40.706 93.663 40.349 93.696 40.002 c
92.227 40.002 l
92.159 40.751 l
92.137 40.751 l
91.801 40.169 91.344 39.891 90.659 39.891 c
89.561 39.891 89.157 40.706 89.157 41.693 c
89.157 43.564 90.601 43.642 92.071 43.62 c
92.071 44.057 l
92.071 44.538 92.003 44.887 91.432 44.887 c
90.884 44.887 90.838 44.472 90.838 44.023 c
89.292 44.023 l
89.292 44.707 89.504 45.144 89.874 45.401 c
90.232 45.672 90.749 45.772 91.353 45.772 c
93.359 45.772 93.618 44.91 93.618 43.877 c
93.618 41.054 l
f
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8 0 0 8 32.5 554.8892 Tm
(Inception Date - Class I Shares \(Acc.\))Tj
ET
q
0.6 i
147.5 550.389 50 13 re
W n
0.132 0.08 0.028 0 k
147.5 563.389 50 -13 re
f
Q
BT
8 0 0 8 164.988 554.8892 Tm
(17-Jun-1)Tj
ET
q
147.5 550.389 45 11 re
W n
BT
8 0 0 8 189.148 554.8892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 32.5 541.8892 Tm
[(Fund Domicile)-11079(Luxembourg)]TJ
ET
q
0.6 i
27.5 514.889 170 16.5 re
W n
1 0.84 0.31 0.17 k
27.5 531.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 31.5 520.3892 Tm
0 0 0 0 k
-0.015 Tc
(Fund Facts)Tj
/F2 1 Tf
8 0 0 8 32.5 503.3892 Tm
0 0 0 1 k
-0.025 Tc
[(ISIN - Class I Shares \(Acc.\))-6007(LU1056557629)]TJ
ET
q
0.6 i
27.5 485.889 115 13 re
W n
0.132 0.08 0.028 0 k
27.5 498.889 115 -13 re
f
Q
BT
8 0 0 8 32.5 490.3892 Tm
(Bloomberg Ticker - Class I Shares \(Acc.\))Tj
ET
q
0.6 i
142.5 485.889 55 13 re
W n
0.132 0.08 0.028 0 k
142.5 498.889 55 -13 re
f
Q
BT
8 0 0 8 158.94 490.3892 Tm
(GSEHIRA L)Tj
ET
q
142.5 485.889 50 11 re
W n
BT
8 0 0 8 188.7 490.3892 Tm
0 Tc
(X)Tj
ET
Q
BT
8 0 0 8 32.5 477.3892 Tm
[(Dividend Distribution Frequency)-7437(None)]TJ
ET
q
0.6 i
27.5 459.889 115 13 re
W n
0.132 0.08 0.028 0 k
27.5 472.889 115 -13 re
f
Q
BT
8 0 0 8 32.5 464.3892 Tm
(Dealing and valuation)Tj
ET
q
0.6 i
142.5 459.889 55 13 re
W n
0.132 0.08 0.028 0 k
142.5 472.889 55 -13 re
f
Q
BT
8 0 0 8 178.836 464.3892 Tm
(Dail)Tj
ET
q
142.5 459.889 50 11 re
W n
BT
8 0 0 8 189.588 464.3892 Tm
0 Tc
(y)Tj
ET
Q
BT
8 0 0 8 32.5 451.3892 Tm
[(Reporting year end)-9065(30 Novembe)]TJ
ET
q
142.5 446.889 50 11 re
W n
BT
8 0 0 8 190.476 451.3892 Tm
0 Tc
(r)Tj
ET
Q
0.132 0.08 0.028 0 k
27.5 446.889 50 -34 re
f
BT
8 0 0 8 32.5 438.3893 Tm
0 0 0 1 k
(Reference )Tj
0 -1.3125 TD
(Benchmark)Tj
ET
q
0.6 i
77.5 412.889 120 34 re
W n
0.132 0.08 0.028 0 k
77.5 446.889 120 -34 re
f
Q
BT
8 0 0 8 87.068 438.3893 Tm
(ICE BofA European Currency High Yield )Tj
-0.164 -1.3125 TD
(Constrained Index \(TR, 100% hedged to )Tj
12.393 -1.3125 TD
(EU)Tj
-19.05 -1.625 TD
[(Settlement)-14600(T + 3)]TJ
ET
q
0.6 i
212.5 697.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 714.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 703.3892 Tm
0 0 0 0 k
-0.015 Tc
(Sector Allocation \(%\))Tj
ET
q
0.6 i
397.5 697.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
397.5 714.389 170 -16.5 re
f
Q
BT
10 0 0 10 401.5 703.3892 Tm
(Credit Allocation \(%\))Tj
ET
q
254 683.889 18 8 re
W n
0 0 0 1 K
0 J 0 j 0.5 w 10 M []0 d
/GS2 gs
270.846 685.91 m
262.45 689.837 254.582 689.142 y
254.5 691.889 m
254.5 686.272 l
269.281 688.483 m
271.19 685.895 l
268.035 684.594 l
S
Q
0 0.97 1 0.5 k
/GS2 gs
0.6 i
252.5 652.889 m
252.5 682.889 l
269.069 682.889 282.5 669.458 282.5 652.889 c
282.5 636.321 269.069 622.889 252.5 622.889 c
235.931 622.889 222.5 636.321 222.5 652.889 c
222.5 660.074 225.078 667.019 229.766 672.464 c
h
252.5 652.889 m
f
0 0 0 0 K
0 J 0 j 0.1 w 10 M []0 d
/GS1 gs
252.5 652.889 m
252.5 682.889 l
269.069 682.889 282.5 669.458 282.5 652.889 c
282.5 636.321 269.069 622.889 252.5 622.889 c
235.931 622.889 222.5 636.321 222.5 652.889 c
222.5 660.074 225.078 667.019 229.766 672.464 c
h
252.5 652.889 m
S
252.5 652.889 m
229.766 672.464 l
232.562 675.711 236.02 678.321 239.909 680.119 c
h
252.5 652.889 m
f
252.5 652.889 m
229.766 672.464 l
232.562 675.711 236.02 678.321 239.909 680.119 c
h
252.5 652.889 m
S
252.5 652.889 m
239.909 680.119 l
241.962 681.069 244.116 681.783 246.33 682.248 c
h
252.5 652.889 m
f
252.5 652.889 m
239.909 680.119 l
241.962 681.069 244.116 681.783 246.33 682.248 c
h
252.5 652.889 m
S
252.5 652.889 m
246.33 682.248 l
248.359 682.674 250.427 682.889 252.5 682.889 c
h
252.5 652.889 m
f
252.5 652.889 m
246.33 682.248 l
248.359 682.674 250.427 682.889 252.5 682.889 c
h
252.5 652.889 m
S
0 0 0 0 k
267.5 652.889 m
267.5 661.173 260.784 667.889 252.5 667.889 c
244.216 667.889 237.5 661.173 237.5 652.889 c
237.5 644.605 244.216 637.889 252.5 637.889 c
260.784 637.889 267.5 644.605 267.5 652.889 c
f
267.5 652.889 m
267.5 661.173 260.784 667.889 252.5 667.889 c
244.216 667.889 237.5 661.173 237.5 652.889 c
237.5 644.605 244.216 637.889 252.5 637.889 c
260.784 637.889 267.5 644.605 267.5 652.889 c
S
BT
/F5 1 Tf
6 0 0 6 290.508 687.3892 Tm
0 0.97 1 0.5 k
-0.0333 Tc
(86.4)Tj
ET
q
0.2 i
287.5 683.889 16 8 re
W n
BT
6 0 0 6 299.032 687.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 687.3892 Tm
0 0 0 1 k
(Non-Dollar)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(6.8)Tj
ET
q
0.2 i
287.5 674.889 16 8 re
W n
BT
6 0 0 6 299.032 678.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 678.3892 Tm
0 0 0 1 k
(US High Yield)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(3.6)Tj
ET
q
0.2 i
287.5 665.889 16 8 re
W n
BT
6 0 0 6 299.032 669.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 669.3892 Tm
0 0 0 1 k
(Emerging Markets)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.721 -1.5 TD
(-0.1)Tj
ET
q
0.2 i
287.5 656.889 16 8 re
W n
BT
6 0 0 6 299.032 660.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 660.3892 Tm
0 0 0 1 k
(Unrealized GL on FX)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(3.3)Tj
ET
q
0.2 i
287.5 647.889 16 8 re
W n
BT
6 0 0 6 299.032 651.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 651.3892 Tm
0 0 0 1 k
(Cash)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(0.0)Tj
ET
q
0.2 i
287.5 638.889 16 8 re
W n
BT
6 0 0 6 299.032 642.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 642.3892 Tm
0 0 0 1 k
(Derivatives)Tj
ET
0 0 0 0.4 K
0.2 w
469.5 565.617 m
564.5 565.617 l
469.5 578.344 m
564.5 578.344 l
469.5 591.071 m
564.5 591.071 l
469.5 603.798 m
564.5 603.798 l
469.5 616.526 m
564.5 616.526 l
469.5 629.253 m
564.5 629.253 l
469.5 641.98 m
564.5 641.98 l
469.5 654.707 m
564.5 654.707 l
469.5 667.435 m
564.5 667.435 l
469.5 680.162 m
564.5 680.162 l
469.5 692.889 m
564.5 692.889 l
S
0 0.97 1 0.5 k
490.611 554.389 m
490.611 564.117 l
490.611 554.389 l
f
BT
/F2 1 Tf
5 0 0 5 495.2811 557.2529 Tm
/Cs7 cs 0 scn
0 Tc
(0.0 )Tj
ET
0 0.97 1 0.5 k
490.611 576.844 3.483 -9.727 re
f
BT
5 0 0 5 498.7644 569.9802 Tm
/Cs7 cs 0 scn
(3.3 )Tj
ET
0 0.97 1 0.5 k
490.506 589.571 0.106 -9.727 re
f
BT
5 0 0 5 478.4805 582.7074 Tm
/Cs7 cs 0 scn
(-0.1 )Tj
ET
0 0.97 1 0.5 k
490.611 602.298 0.422 -9.727 re
f
BT
5 0 0 5 495.7033 595.4347 Tm
/Cs7 cs 0 scn
(0.4 )Tj
ET
0 0.97 1 0.5 k
490.611 605.298 m
490.611 615.026 l
490.611 605.298 l
f
BT
5 0 0 5 495.2811 608.162 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
490.611 618.026 m
490.611 627.753 l
490.611 618.026 l
f
BT
5 0 0 5 495.2811 620.8892 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
490.611 640.48 0.106 -9.727 re
f
BT
5 0 0 5 495.3867 633.6165 Tm
/Cs7 cs 0 scn
(0.1 )Tj
ET
0 0.97 1 0.5 k
490.611 653.207 8.972 -9.727 re
f
BT
5 0 0 5 504.2533 646.3438 Tm
/Cs7 cs 0 scn
(8.5 )Tj
ET
0 0.97 1 0.5 k
490.611 665.935 30.189 -9.727 re
f
BT
5 0 0 5 524.36 659.071 Tm
/Cs7 cs 0 scn
(28.6 )Tj
ET
0 0.97 1 0.5 k
490.611 678.662 60.272 -9.727 re
f
BT
5 0 0 5 554.4434 671.7984 Tm
/Cs7 cs 0 scn
(57.1 )Tj
ET
0 0.97 1 0.5 k
490.611 691.389 2.322 -9.727 re
f
BT
5 0 0 5 497.6033 684.5256 Tm
/Cs7 cs 0 scn
(2.2 )Tj
ET
0 0 0 1 K
0.5 w
469.5 552.889 m
564.5 552.889 l
469.5 552.889 m
469.5 549.889 l
S
BT
5 0 0 5 466.585 543.8892 Tm
0 0 0 1 k
(-20)Tj
ET
480.056 552.889 m
480.056 549.889 l
S
BT
5 0 0 5 477.1405 543.8892 Tm
(-10)Tj
ET
490.611 552.889 m
490.611 549.889 l
S
BT
5 0 0 5 489.5011 543.8892 Tm
(0)Tj
ET
501.167 552.889 m
501.167 549.889 l
S
BT
5 0 0 5 498.9467 543.8892 Tm
(10)Tj
ET
511.722 552.889 m
511.722 549.889 l
S
BT
5 0 0 5 509.5022 543.8892 Tm
(20)Tj
ET
522.278 552.889 m
522.278 549.889 l
S
BT
5 0 0 5 520.0577 543.8892 Tm
(30)Tj
ET
532.833 552.889 m
532.833 549.889 l
S
BT
5 0 0 5 530.6133 543.8892 Tm
(40)Tj
ET
543.389 552.889 m
543.389 549.889 l
S
BT
5 0 0 5 541.1689 543.8892 Tm
(50)Tj
ET
553.944 552.889 m
553.944 549.889 l
S
BT
5 0 0 5 551.7244 543.8892 Tm
(60)Tj
ET
564.5 552.889 m
564.5 549.889 l
S
BT
5 0 0 5 562.28 543.8892 Tm
(70)Tj
ET
490.611 552.889 m
490.611 692.889 l
S
BT
6 0 0 6 397.5 557.7529 Tm
(Derivatives)Tj
0 2.1212 TD
(Cash)Tj
T*
(Unrealized GL on FX)Tj
T*
(NR)Tj
T*
(D)Tj
T*
(C)Tj
T*
(CC)Tj
T*
(CCC)Tj
T*
(B)Tj
T*
(BB)Tj
T*
(BBB)Tj
ET
q
212.5 521.389 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 537.889 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 526.8892 Tm
0 0 0 0 k
-0.015 Tc
(Top 10 Corporate Issuers)Tj
/F5 1 Tf
6.5 0 0 6.5 331.26 529.5892 Tm
0 Tc
(\(6\))Tj
/F2 1 Tf
8 0 0 8 217.5 512.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Security)-16503(%)]TJ
ET
q
212.5 493.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 507.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 498.8892 Tm
(TITIM)Tj
ET
q
332.5 493.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 507.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 498.8892 Tm
(3.0)Tj
-18.965 -1.75 TD
[(F)-18601(2.0)]TJ
ET
q
212.5 465.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 479.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 470.8892 Tm
(TELEFO)Tj
ET
q
332.5 465.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 479.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 470.8892 Tm
(1.6)Tj
-18.965 -1.75 TD
[(EDF)-17651(1.6)]TJ
ET
q
212.5 437.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 451.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 442.8892 Tm
(NFLX)Tj
ET
q
332.5 437.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 451.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 442.8892 Tm
(1.6)Tj
-18.965 -1.75 TD
[(SOFTBK)-16226(1.6)]TJ
ET
q
212.5 409.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 423.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 414.8892 Tm
(SFRFP)Tj
ET
q
332.5 409.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 423.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 414.8892 Tm
(1.6)Tj
-18.965 -1.75 TD
[(ZFFNGR)-16226(1.5)]TJ
ET
q
212.5 381.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 395.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 386.8892 Tm
(ATOSTR)Tj
ET
q
332.5 381.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 395.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 386.8892 Tm
(1.5)Tj
-18.965 -1.75 TD
[(BAMIIM)-16059(1.5)]TJ
/F5 1 Tf
0 -25.4237 TD
(Please see Additional Notes. All performance and holdings data as at 31-Jan-21. Past performance does not )Tj
0 -1.25 TD
(guarantee future results, which may vary. The value of investments and the income derived from investments will )Tj
ET
q
0.2 i
217.5 145 350 30.5 re
W n
BT
8 0 0 8 217.5 149.5 Tm
0 Tc
()Tj
ET
Q
BT
8 0 0 8 221.3 149.5 Tm
(uctuate and can go down as well as up. A loss of capital may occur.)Tj
/F2 1 Tf
4 0 0 4 217.5 142 Tm
0 Tc
(\(1\))Tj
8 0 0 8 221.052 139 Tm
[(Effective January 8, 2021, the portfolio name changed from Goldman Sachs Europe High Y)18(ield Bond Portfolio to )]TJ
-0.444 -1.25 TD
[(Goldman Sachs ESG-Enhanced Europe High Y)18(ield Bond Portfolio.)]TJ
4 0 0 4 405.692 132 Tm
( \(2\))Tj
8 0 0 8 410.132 129 Tm
(The Morningstar sector average gures are )Tj
-24.079 -1.25 TD
(calculated using all open funds available in the universe at the indicated time period. The number of funds in a )Tj
T*
(Morningstar sector varies over time as new funds are launched and funds close. Source: Morningstar 2021 )Tj
T*
[(Morningstar)70(, Inc. All Rights Reserved.)]TJ
4 0 0 4 328.004 102 Tm
( \(3\))Tj
8 0 0 8 332.444 99 Tm
[(The ongoing charges gure is based on expenses during the previous year)70(. See )]TJ
-14.368 -1.25 TD
(details in the Key Investor Information Document.)Tj
4 0 0 4 362.324 92 Tm
( \(4\))Tj
8 0 0 8 366.764 89 Tm
[(The BofA ML High Y)18(ield Constrained Index is quoted at month-end )]TJ
-18.658 -1.25 TD
(with income reinvested and, in contrast to the Portfolio, is shown without the deduction of any expenses.)Tj
4 0 0 4 523.116 82 Tm
( \(5\))Tj
8 0 0 8 527.556 79 Tm
(Fund returns )Tj
-38.757 -1.25 TD
[(are shown net of applicable ongoing fees within the portfolio, with dividends re-invested using the ex-dividend NA)37(V)100(.)0( )]TJ
T*
(These returns are for comparison of performance against specied index. As the investor may be liable to other fees, )Tj
T*
(charges and taxes, they are not meant to provide a measure of actual return to investors. The performance data do not )Tj
T*
(take account of the commissions and costs incurred on the issue and redemption of shares.)Tj
4 0 0 4 482.7 42 Tm
( \(6\))Tj
8 0 0 8 487.14 39 Tm
(Portfolio holdings may not )Tj
-33.705 -1.25 TD
(represent current, future investments or all of the portfolio's holdings. Future portfolio holdings may not be protable.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
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(High yield risk)Tj
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( high yield instruments, meaning investments which pay a high amount of income generally involve greater credit risk and sensit)Tj
51.04 0 TD
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(developments, giving rise to greater price movement than lower yielding instruments.)Tj
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(Interest rate risk)Tj
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47.71 0 TD
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51.096 0 TD
(conomic.)Tj
/F6 1 Tf
6 0 0 6 27.5 538.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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/F1 1 Tf
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50.267 0 TD
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/F6 1 Tf
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/F5 1 Tf
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/F1 1 Tf
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( the value of assets in the Portfolio is typically dictated by a number of factors, including the condence levels of the marke)Tj
49.044 0 TD
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/F6 1 Tf
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/F5 1 Tf
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/F1 1 Tf
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50.318 0 TD
(r controls.)Tj
/F6 1 Tf
6 0 0 6 27.5 491.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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(Mortgage-backed securities \(MBS\) and asset-backed securities \(ABS\) risk)Tj
/F1 1 Tf
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-34.1711 -1.3125 TD
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/F5 1 Tf
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(Glossary)Tj
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0.6 i
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567.5 312.889 l
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()Tj
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/F1 1 Tf
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( Measures the sensitivity of the funds returns to the comparative benchmark index return \(annualised\). The nearer to 1.00, t)Tj
49.986 0 TD
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-51.993 -1.3125 TD
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/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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/F1 1 Tf
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( Measure of the sensitivity of the price of a bond or portfolio to a change in interest rates paid. The larger the number \(po)Tj
48.822 0 TD
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-59.1527 -1.3125 TD
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/F6 1 Tf
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0.53 0.32 0.11 0 k
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/F5 1 Tf
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0 0 0 1 k
(Excess returns)Tj
/F1 1 Tf
8 0 0 8 88.483 235.8892 Tm
( The return of the fund in excess of the benchmark/index return \(annualised\).)Tj
/F6 1 Tf
6 0 0 6 27.5 223.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
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/F1 1 Tf
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50.988 0 TD
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-61.4345 -1.3125 TD
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/F6 1 Tf
6 0 0 6 27.5 201.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 201.3892 Tm
0 0 0 1 k
(Historical Volatility of Portfolio)Tj
/F1 1 Tf
8 0 0 8 144.7105 201.3892 Tm
( Illustrates the dispersion of the funds realized monthly returns around the average monthly return, indicating how volatile)Tj
49.432 0 TD
( the )Tj
-62.8333 -1.3125 TD
(funds return is over time. The higher the number the more volatile the funds returns.)Tj
/F6 1 Tf
6 0 0 6 27.5 178.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 178.8892 Tm
0 0 0 1 k
(Interest Rate Duration)Tj
/F1 1 Tf
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( This is a modied measure of Total Average Duration that has been estimated by GSAM. This modied measure seeks to take acco)Tj
53.153 0 TD
(unt of )Tj
-62.5976 -1.3125 TD
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51.931 0 TD
(et standard. The goal is to improve )Tj
-51.931 -1.3125 TD
(the estimate of the portfolio's sensitivity to changes in interest rates. This estimate is guided by historical market observat)Tj
48.514 0 TD
(ions amongst markets which are )Tj
-48.514 -1.3125 TD
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/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 135.3892 Tm
0 0 0 1 k
(Net Asset Value)Tj
/F1 1 Tf
8 0 0 8 92.75 135.3892 Tm
( Represents the net assets of the fund \(ex-dividend\) divided by the total number of shares issued by the fund.)Tj
/F6 1 Tf
6 0 0 6 27.5 123.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 123.3892 Tm
0 0 0 1 k
(Ongoing Charges)Tj
/F1 1 Tf
8 0 0 8 96.524 123.3892 Tm
( The ongoing charges gure is based on the funds expenses during the previous 12 months, on a rolling basis. It excludes tra)Tj
50.54 0 TD
(nsaction costs and )Tj
-57.918 -1.3125 TD
(performance fees incurred by the fund.)Tj
/F6 1 Tf
6 0 0 6 27.5 100.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 100.8892 Tm
0 0 0 1 k
(Other Expenses)Tj
/F1 1 Tf
8 0 0 8 91.322 100.8892 Tm
( Fees deduced from the Funds assets incurred as part of the Funds operations, including, where applicable, costs incurred b)Tj
50.652 0 TD
(y the Fund when )Tj
-57.3797 -1.3125 TD
(investing in other funds.)Tj
/F6 1 Tf
6 0 0 6 27.5 78.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 78.3892 Tm
0 0 0 1 k
(R)Tj
/F2 1 Tf
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(2)Tj
/F1 1 Tf
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( Measure that represents the percentage of a portfolio movement linked to movements in the benchmark index return \(annualised)Tj
52.433 0 TD
(\). The nearer to [1.00], the more )Tj
-53.2457 -1.3125 TD
(a fund is tracking the risk of the benchmark, and the less risk that the fund is taking against the benchmark.)Tj
/F6 1 Tf
6 0 0 6 27.5 55.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Swing pricing)Tj
/F1 1 Tf
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( The swing factor represents the factor in place month end and is subject to change on any Dealing Day depending on prevailin)Tj
51.433 0 TD
(g market conditions.)Tj
/F6 1 Tf
6 0 0 6 27.5 43.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Yield to Maturity)Tj
/F1 1 Tf
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( The rate of return anticipated on a bond if it is held until the maturity date shown without the deduction of any expenses.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Yield to Worst)Tj
/F1 1 Tf
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( The lowest potential yield that can be received on a bond without the issuer actually defaulting.)Tj
0.53 0.32 0.11 0 k
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(Additional Notes)Tj
8 0 0 8 27.5 761.8892 Tm
0 0 0 1 k
-0.0313 Tc
0.0001 Tw
(This material is a nancial promotion and has been issued by Goldman Sachs International, authorised by the Prudential Regulati)Tj
47.4093 0 TD
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-47.4093 -1.3125 TD
(Authority and the Prudential Regulation Authority.)Tj
0 -1.375 TD
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(Furthermore, this information should not be construed as nancial research. It was not prepared in compliance with applicable p)Tj
47.3523 0 TD
(rovisions of law designed to promote the )Tj
-47.3523 -1.3125 TD
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(independence of nancial analysis and is not subject to a prohibition on trading following the distribution of nancial researc)Tj
45.7983 0 TD
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46.4633 0 TD
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(in whole or in part without the prior written consent of )Tj
-46.4633 -1.3125 TD
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(GSI. Goldman Sachs International accepts no liability for the misuse or inappropriate distribution of this material.)Tj
/F5 1 Tf
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(Offering Documents)Tj
/F1 1 Tf
7.4925 0 TD
0.0001 Tw
(: This material is provided at your request for informational purposes only and does not constitute a solicitation in any juris)Tj
44.6833 0 TD
0 Tw
(diction in which such a solicitation is )Tj
-52.1758 -1.3125 TD
0.0001 Tw
(unlawful or to any person to whom it is unlawful. It only contains selected information with regards to the fund and does not c)Tj
46.0203 0 TD
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(onstitute an offer to buy shares in the fund. Prior to an )Tj
-46.0203 -1.3125 TD
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(investment, prospective investors should carefully read the latest Key Investor Information Document \(KIID\) as well as the offe)Tj
46.4653 0 TD
(ring documentation, including but not limited to the )Tj
-46.4653 -1.3125 TD
(funds prospectus which contains inter alia a comprehensive disclosure of applicable risks. The relevant articles of associatio)Tj
46.2383 0 TD
(n, prospectus, supplement, KIID and latest annual/semi-)Tj
-46.2383 -1.3125 TD
(annual report are available free of charge from the funds paying and information agent and/or from your nancial adviser and a)Tj
46.9643 0 TD
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(t www.gsam.com/kiids.)Tj
/F5 1 Tf
-46.9643 -1.375 TD
(Distribution of Shares)Tj
/F1 1 Tf
8.1455 0 TD
0.0001 Tw
(: Shares of the fund may not be registered for public distribution in a number of jurisdictions \(including but not limited to a)Tj
44.2983 0 TD
0 Tw
(ny Latin American, African or Asian )Tj
-52.4438 -1.3125 TD
0.0001 Tw
(countries\). Therefore, the shares of the fund must not be marketed or offered in or to residents of any such jurisdictions unle)Tj
45.5193 0 TD
0 Tw
(ss such marketing or offering is made in compliance with )Tj
-45.5193 -1.3125 TD
0.0001 Tw
(applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules and )Tj
46.8523 0 TD
0 Tw
(regulations.)Tj
/F5 1 Tf
-46.8523 -1.375 TD
0.0001 Tw
(Investment Advice and Potential Loss)Tj
/F1 1 Tf
14.04 0 TD
(: Financial advisers generally suggest a diversied portfolio of investments. The fund described herein does not represent a di)Tj
46.1273 0 TD
0 Tw
(versied )Tj
-60.1673 -1.3125 TD
0.0001 Tw
(investment by itself. This material must not be construed as investment or tax advice. Prospective investors should consult the)Tj
46.3503 0 TD
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(ir nancial and tax adviser before investing in order to )Tj
-46.3503 -1.3125 TD
0.0001 Tw
(determine whether an investment would be suitable for them.)Tj
/F5 1 Tf
0 -1.375 TD
(An investor should only invest if he/she has the necessary nancial resources to bear a complete loss of this investment.)Tj
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(Swing Pricing)Tj
/F1 1 Tf
5.3728 0 TD
(: Please note that the fund operates a swing pricing policy. Investors should be aware that from time to time this may result i)Tj
45.4633 0 TD
0 Tw
(n the fund performing differently compared )Tj
ET
q
1 i
27.5 554.389 540 21.5 re
W n
BT
8 0 0 8 27.5 558.8892 Tm
0 Tc
(t)Tj
ET
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8 0 0 8 29.474 558.8892 Tm
0.0001 Tw
(o the reference benchmark based solely on the effect of swing pricing rather than price developments of underlying instruments.)Tj
-0.2467 -1.375 TD
0 Tw
(Fees are generally billed and payable at the end of each quarter and are based on average month-end market values during the qu)Tj
48.0743 0 TD
(arter.)Tj
-48.0743 -1.375 TD
0.0001 Tw
(Additional information is provided in our Form ADV Part-2 which is available at http://www.adviserinfo.sec.gov/IAPD/Content/Sea)Tj
47.5213 0 TD
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(rch/iapd_Search.aspx.)Tj
/F5 1 Tf
-47.5213 -1.375 TD
0.0001 Tw
(The relevant articles of association, prospectus, supplement and key investor information document \(KIID\) and latest annual/sem)Tj
48.1373 0 TD
(i-annual report \(as applicable\) are available free of )Tj
-48.1373 -1.3125 TD
(charge from the funds paying and information agents as listed below:)Tj
0 -1.375 TD
0 Tw
(Austria)Tj
/F1 1 Tf
2.7253 0 TD
0.0001 Tw
(: Raiffeisen Bank International AG, Am Stadtpark 9, A-1030 Wien, Austria.)Tj
/F5 1 Tf
-2.7253 -1.375 TD
0 Tw
(Belgium)Tj
/F1 1 Tf
3.1702 0 TD
0.0001 Tw
(: RBC Investor Services, Place Rogier II, 1210 Brussels, Belgium.)Tj
/F5 1 Tf
-3.1702 -1.375 TD
0 Tw
(Denmark)Tj
/F1 1 Tf
3.4473 0 TD
0.0001 Tw
(: Stockrate Asset Management, Mollevej 9 E2, DK-2990 Niva, Denmark.)Tj
/F5 1 Tf
-3.4473 -1.375 TD
0 Tw
(France)Tj
/F1 1 Tf
2.5895 0 TD
0.0001 Tw
(: RBC Investor Services Bank France, 105, rue Raumur, 75002 Paris, France.)Tj
/F5 1 Tf
-2.5895 -1.375 TD
0 Tw
(Germany)Tj
/F1 1 Tf
3.3912 0 TD
(: State Street Bank GmbH, Brienner Strasse 59, 80333 Munich, Germany.)Tj
/F5 1 Tf
-3.3912 -1.375 TD
(Greece)Tj
/F1 1 Tf
2.7565 0 TD
(: Piraeus Bank S.A., 4 Amerikis Street, 10564 Athens, Greece.)Tj
/F5 1 Tf
-2.7565 -1.375 TD
(Ireland)Tj
/F1 1 Tf
2.6702 0 TD
0.0001 Tw
(: RBC Investor Services Ireland Limited, George's Quay House, 43 Townsend Street, Dublin 2, Ireland.)Tj
/F5 1 Tf
-2.6702 -1.375 TD
0 Tw
(Italy)Tj
/F1 1 Tf
1.6217 0 TD
0.0001 Tw
(: Socit Gnrale Securities Services, Maciachini Center MAC 2, Via Benigno Crespi, 19/A, 20159 Milan, Italy; AllFunds Bank )Tj
46.8493 0 TD
0 Tw
(S.A. Filiale di Milano, Via Santa Margherita 7, 20121 )Tj
-48.471 -1.3125 TD
0.0001 Tw
(Milan, Italy; RBC Investor Services Bank Milan- Milan Branch, Cia Vittor Pisani, 26, 20154 Milan, Italy; State Street Bank S.pA)Tj
45.6843 0 TD
(., Via Col Moschin, 16 , 20136 Milan, Italy; BNP Paribas )Tj
-45.6843 -1.3125 TD
(Securities Services Succursale di Milano, Via Ansperto 5, 20121 Milan, Italy; Banca Sella, Piazza Gaudenzio Sella 1, 13900 Bie)Tj
46.4603 0 TD
0 Tw
(lla Bl., Italy.)Tj
/F5 1 Tf
-46.4603 -1.375 TD
(Luxembourg)Tj
/F1 1 Tf
4.6865 0 TD
(: State Street Bank International GmbH, Luxembourg Branch, 49, avenue J.F. Kennedy, L-1855 Luxembourg.)Tj
/F5 1 Tf
-4.6865 -1.375 TD
(Sweden)Tj
/F1 1 Tf
3.1465 0 TD
0.0001 Tw
(: Skandinaviska Enskilda Banken AB, through its entity Global Transaction Services, SEB Merchant Banking, Sergels Torg 2, ST MH)Tj
48.3503 0 TD
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(1, SE-106 40 Stockholm, Sweden.)Tj
/F5 1 Tf
-51.4968 -1.375 TD
(Switzerland)Tj
/F1 1 Tf
4.5462 0 TD
0.0001 Tw
(: Swiss Representative of the fund is First Independent Fund Services Ltd, Klausstrasse 33, 8008 Zurich. Paying Agent of the fu)Tj
46.0733 0 TD
(nd in Switzerland is Goldman Sachs Bank AG, )Tj
-50.6195 -1.3125 TD
(Claridenstrasse 25, 8022 Zurich. The Key Investor Information Document \(KIID\) as well as the annual and semi-annual reports of )Tj
47.1293 0 TD
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(the fund may be obtained free of charge at the Swiss )Tj
-47.1293 -1.3125 TD
(Representative or Goldman Sachs Bank AG in Zurich.)Tj
0 -1.375 TD
0.0001 Tw
(Please note in addition for:)Tj
/F5 1 Tf
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(Australia)Tj
/F1 1 Tf
3.4408 0 TD
0.0001 Tw
(: This material is distributed in Australia and New Zealand by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 )Tj
48.1263 0 TD
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(681, AFSL 228948 \(GSAMA\) and is )Tj
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45.9623 0 TD
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/F5 1 Tf
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(Hong Kong)Tj
/F1 1 Tf
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(: This material has been issued or approved for use in or from Hong Kong by Goldman Sachs Asset Management \(Hong Kong\) Limited.)Tj
/F5 1 Tf
-4.1077 -1.375 TD
0 Tw
(Netherlands)Tj
/F1 1 Tf
4.6562 0 TD
0.0001 Tw
(: The fund is included in the register kept by the Stichting Autoriteit Financile Markten.)Tj
/F5 1 Tf
-4.6562 -1.375 TD
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(Singapore)Tj
/F1 1 Tf
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(: This material has been issued or approved for use in or from Singapore by Goldman Sachs Asset Management \(Singapore\) Pte. Ltd)Tj
48.6303 0 TD
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(. \(Company Number: 201329851H\).)Tj
/F5 1 Tf
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(Spain)Tj
/F1 1 Tf
2.1778 0 TD
0.0001 Tw
(: The fund is a foreign UCITS registered with the CNMV registry with number 141 \(SICAV\), 913 \(SICAV II\), 305 \(PLC\). A full desc)Tj
46.0233 0 TD
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(ription and KIID for the fund and other mandatory )Tj
-48.201 -1.3125 TD
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(documentation is available free of charge from any of the authorised distributors of the fund listed in the Comisin Nacional d)Tj
45.9103 0 TD
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(el Mercado de Valores \(CNMV\) webpage at )Tj
-45.9103 -1.3125 TD
(www.cnmv.es.)Tj
/F5 1 Tf
0 -19.8125 TD
(Condentiality)Tj
/F1 1 Tf
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(No part of this material may, without GSAMs prior written consent, be \(i\) copied, photocopied or duplicated in any form, by an)Tj
47.036 0 TD
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( 2021 Goldman Sachs. All rights reserved.)Tj
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(Registered and Principal Ofces:)Tj
/F5 1 Tf
12.309 0 TD
-0.0313 Tc
( Luxembourg domiciled Funds Registered Ofce:)Tj
/F1 1 Tf
18.1468 0 TD
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( c/o State Street Bank International GmbH, Luxembourg Branch, 49, Avenue J-F Kennedy L-1855, )Tj
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