Goldman Sachs Short-Term Conservative Income Fund Class A GPAPX

The investment seeks to generate current income and secondarily maintain an emphasis on preservation of capital and liquidity. The fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in short-term, investment grade fixed income securities. The fund may also invest in U.S. dollar-denominated obligations issued or guaranteed by foreign banks, companies and governments or their agencies, authorities, instrumentalities or sponsored enterprises.