Goldman Sachs Financial Square Treasury Instruments Fund Administration Shares FRAXX

The investment seeks to maximize current income to the extent consistent with the preservation of capital and the maintenance of liquidity by investing exclusively in high quality money market instruments. The fund invests only in U.S. Treasury Obligations, which include securities issued or guaranteed by the U.S. Treasury where the payment of principal and interest is backed by the full faith and credit of the U.S. government, the interest from which is generally exempt from state income taxation.