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GSZIX Goldman Sachs Strategic Income Instl

  • Fund
  • GSZIX
  • Price as of: Aug 08, 2016
  • $9.54
  • + $0.01
  • + 0.11%
  • Category
  • Government Bonds

GSZIX - Profile

Vitals

  • YTD Return -0.8%
  • 3 Yr Annualized Return 0.0%
  • 5 Yr Annualized Return 2.6%
  • Net Assets $11 B
  • Holdings in Top 10 29.1%

52 WEEK LOW AND HIGH

$9.54
$9.18
$9.96

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.57%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 212.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

$0

Investment Themes

CATEGORY

Government Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Nontraditional Bond

Distributions

  • YTD Total Return -0.8%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.17%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Goldman Sachs Strategic Income Fund
  • Fund Family Name Goldman Sachs
  • Inception Date Jun 30, 2010
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Michael Swell

Fund Description

The Goldman Sachs Strategic Income Fund Institutional Shares (GSZIX) is an actively managed fund that is designed to provide a high level of current income. GSZIX is considered a multisector bond fund and can invest in variety of IOUs. These include junk bonds, Treasuries, MBS, emerging-market debt and municipals. The fund shifts its holdings based on various credit factors as well as market events and Federal Reserve actions.

With its focus on bond varieties, and domestic and foreign issues, GSZIX makes for a great core fixed-income position. The fund is managed by Goldman Sachs Asset Management, L.P.

GSZIX - Performance

Return Ranking - Trailing

Period GSZIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.8% -10.6% 21.8% 69.35% 5
1 Yr -1.5% -5.9% 26.2% 95.56% 5
3 Yr 0.0% * -2.2% 18.2% 94.54% 5
5 Yr 2.6% * -1.6% 16.1% 28.41% 2
10 Yr N/A * 0.1% 10.0% N/A N/A

* Annualized


Return Ranking - Calendar

Period GSZIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -6.4% -51.0% 2.4% 69.64% 5
2014 N/A 0.0% 3.8% N/A N/A
2013 N/A -4.5% -4.5% N/A N/A
2012 N/A -1.4% -1.4% N/A N/A
2011 N/A 3.1% 3.1% N/A N/A

Total Return Ranking - Trailing

Period GSZIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.8% -10.6% 21.8% 69.80% 5
1 Yr -1.5% -8.4% 26.2% 83.46% 5
3 Yr 0.0% * -3.0% 18.2% 91.09% 5
5 Yr 2.6% * -1.8% 16.1% 25.22% 2
10 Yr N/A * 0.1% 10.0% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period GSZIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -6.4% -51.0% 2.4% 69.75% 5
2014 N/A 3.8% 3.8% N/A N/A
2013 N/A -4.4% -4.4% N/A N/A
2012 N/A -0.4% -0.4% N/A N/A
2011 N/A 4.4% 4.4% N/A N/A

NAV & Total Return History

GSZIX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

GSZIX Category Low Category High GSZIX % Rank Quintile
Net Assets 11 B 1.08 M 26.9 B 0.74% 1
Number of Holdings 1496 7 18919 1.23% 1
Net Assets in Top 10 2.77 B -6.56 M 13.6 B 0.99% 1
Weighting of Top 10 29.1% 0.0% 147.5% 27.16% 4

Top 10 Holdings

  1. Japanese Govt 2y #365 0.1% 15 Jun 2018 10.57%
  2. FHLBA FRN 3.69%
  3. FHLBA FRN 3.26%
  4. US Treasury Bond 2.875% 2.53%
  5. Italy(Rep Of) 2.35% 2.16%
  6. Spain(Kingdom Of) 0.55% 1.46%
  7. Japan(Govt Of) 0.1% 1.40%
  8. FNMA 1.36%
  9. FNMA 1.36%
  10. Lch Ir Usd 2.0000 S 21sep21 Fix 1.27%

Asset Allocation

Weighting Category Low Category High GSZIX % Rank Quintile
Bonds
84.74% 0.00% 159.24% 27.41% 5
Cash
11.42% -59.71% 100.12% 8.89% 2
Other
2.74% -1.43% 6.46% 1.23% 1
Stocks
0.88% 0.00% 15.23% 0.99% 1
Preferred Stocks
0.21% 0.00% 0.64% 0.49% 1
Convertible Bonds
0.02% 0.00% 0.02% 0.25% 1

Stock Sector Breakdown

Weighting Category Low Category High GSZIX % Rank Quintile
Energy
0.72% 0.00% 1.20% 16.67% 2
Financial Services
0.16% 0.00% 0.16% 8.33% 1
Utilities
0.00% 0.00% 2.90% 16.67% 3
Industrials
0.00% 0.00% 0.00% 8.33% 3
Healthcare
0.00% 0.00% 3.57% 16.67% 3
Real Estate
0.00% 0.00% 0.00% 8.33% 3
Technology
0.00% 0.00% 2.03% 16.67% 3
Communication Services
0.00% 0.00% 2.83% 16.67% 3
Consumer Defense
0.00% 0.00% 2.71% 16.67% 3
Consumer Cyclical
0.00% 0.00% 0.01% 16.67% 4
Basic Materials
0.00% 0.00% 0.00% 8.33% 3

Stock Geographic Breakdown

Weighting Category Low Category High GSZIX % Rank Quintile
US
0.72% 0.00% 13.81% 0.99% 1
Non US
0.16% 0.00% 1.42% 0.49% 1

Bond Sector Breakdown

Weighting Category Low Category High GSZIX % Rank Quintile
Securitized
37.25% 0.00% 149.40% 20.74% 4
Government
37.02% -24.63% 106.10% 18.02% 3
Cash & Equivalents
11.68% -59.71% 100.12% 8.89% 2
Corporate
8.82% 0.00% 76.92% 2.22% 1
Municipal
1.67% 0.00% 17.61% 2.47% 1
Derivative
-0.26% -33.10% 1.46% 1.73% 5

Bond Geographic Breakdown

Weighting Category Low Category High GSZIX % Rank Quintile
US
51.02% 0.00% 159.24% 31.85% 5
Non US
33.72% 0.00% 87.73% 1.23% 1

GSZIX - Expenses

Operational Fees

GSZIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.57% 0.06% 17.30% 34.07% 1
Management Fee 0.50% 0.00% 1.50% 3.95% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.40% N/A N/A

Sales Fees

GSZIX Fees (% of AUM) Category Low Category High GSZIX Rank Quintile
Front Load N/A 0.40% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

GSZIX Fees (% of AUM) Category Low Category High GSZIX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

GSZIX Fees (% of AUM) Category Low Category High GSZIX Rank Quintile
Turnover 212.00% 0.00% 1609.00% 10.42% 4

GSZIX - Distributions

Dividend Yield Analysis

GSZIX Category Low Category High GSZIX % Rank Quintile
Dividend Yield 0.2% 0.00% 3.47% 17.51% 2

Dividend Distribution Analysis

GSZIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

GSZIX Category Low Category High GSZIX % Rank Quintile
Net Income Ratio 3.17% -3.48% 3.64% 0.99% 1

Capital Gain Distribution Analysis

GSZIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

GSZIX - Managers

Michael Swell

Manager

Start Date

Jun 30, 2010

Tenure

6.09

Tenure Rank

9.7%

Michael is the co-head of Global Lead Portfolio Management within the Global Fixed Income GroupLiquidity Management team at Goldman Sachs Asset Management (GSAM).He is a member of the Fixed Income Strategy. In this role, he is responsible co-leading the global team of portfolio managers that are responsible for overseeing multi-sector portfolios. Previously, Michael was a senior portfolio manager and co-head of the US Fixed Income group. Michael joined Goldman Sachs Asset Management, L.P. in 2007 as a managing director and head of Structured Products. This role entailed the creation of structured product asset management vehicles across the spectrum of fixed income products and management of opportunistic/alternative portfolios. Prior to joining the firm, from 2005 to 2007, Mr. Swell was a Senior Managing Director in charge of Friedman, Billings & Ramsey’s Fixed Income Sales & Trading division.. Under Michael's guidance, his division was responsible for the underwriting of more than $22 billion of mortgage-related transactions and the trading and hedging of all MBS and ABS products. Prior to joining FBR, Michael was the vice president in charge of Freddie Mac’s Securities Sales and Trading Group, Freddie Mac’s in-house MBS broker dealer. Prior to joining Freddie Mac in 1992, Michael marketed and developed fixed income asset management vehicles at BlackRock Financial Management, a fixed income money management firm. Michael started his career as a corporate analyst in the Investment Banking Division of Lehman Brothers helping institutions raise debt capital. Michael earned a BA in Politics and Economics from Brandeis University, a General Course Degree from the London School of Economics and an MA in International Economics and Finance from the Lemberg School at Brandeis University.


Jonathan A. Beinner

Manager

Start Date

Jun 30, 2010

Tenure

6.09

Tenure Rank

9.7%

Jonathan is the chief investment officer and co-head of Global Fixed Income and Liquidity Management in Goldman Sachs Asset Management (GSAM). He is a member of the Investment Management Division's Executive Committee. Jonathan joined GSAM in 1990 and is responsible for more than $300 billion in fixed income assets, including multi-sector portfolios, single-sector portfolios and fixed income hedge funds. Jonathan also manages GSAM's more than $200 billion in money market assets. He was named managing director in 1997 and partner in 2004. Jonathan earned dual BS degrees, summa cum laude, from the University of Pennsylvania in 1988.


Tenure Analysis

Category Low

0.0

Category High

30.6

Category Average

6.23

Category Mode

1.6