Goldman Sachs Moderate Allocation Fund Institutional Class GOIIX

The investment seeks long-term capital appreciation and current income. Under normal conditions, the fund seeks to achieve its investment objective by investing approximately 60% of its assets (which allocation could be increased or decreased by up to 15%) in the underlying equity funds (or direct investments in the types of equity securities held by the underlying equity funds), and approximately 40% of its assets (which allocation could be increased or decreased by up to 15%) in the underlying fixed income funds (or direct investments in the types of fixed income securities held by the underlying fixed income funds).