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Goldman Sachs Short Dur T/F Svc GSFSX

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Morningstar’s Analysis

Will GSFSX outperform in future?

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New Manager Addition Does Not Affect Ratings on Goldman Sachs Municipal Fund Offerings

Strategist

Analyst Note

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Sylvia Yeh’s appointment to the management roster on Goldman Sachs’ municipal funds effective March 12, 2021, does not have a material impact on the strategies’ ratings; Goldman Sachs Short Duration Tax-Free, Goldman Sachs Dynamic Municipal Income, and Goldman Sachs High Yield Municipal retain their People Pillar ratings of Average as well as their current Morningstar Analyst Ratings.

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