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Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Goldman Sachs Emerging Markets Credit Fund

GLIRX | Fund

$4.00

$34.7 M

6.81%

$0.27

2.18%

Vitals

YTD Return

7.4%

1 yr return

11.8%

3 Yr Avg Return

2.5%

5 Yr Avg Return

0.8%

Net Assets

$34.7 M

Holdings in Top 10

12.9%

52 WEEK LOW AND HIGH

$4.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.18%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 123.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Goldman Sachs Emerging Markets Credit Fund

GLIRX | Fund

$4.00

$34.7 M

6.81%

$0.27

2.18%

GLIRX - Profile

Distributions

  • YTD Total Return 7.4%
  • 3 Yr Annualized Total Return 2.5%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.70%
DIVIDENDS
  • Dividend Yield 6.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs Emerging Markets Credit Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Jul 30, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Samuel Finkelstein

Fund Description

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 corporate, quasi-sovereign, and sovereign debt securities and other instruments of issuers in emerging market countries. Such instruments may include exchange-traded funds (“ETFs”), structured securities and other investments with similar economic exposures.The Fund’s portfolio managers seek to build a portfolio across the emerging markets debt market consistent with the Fund’s overall risk budget. As part of the Investment Adviser’s fundamental investment process, the Investment Adviser may integrate environmental, social and governance (“ESG”) factors alongside traditional fundamental factors. No one factor or consideration is determinative in the fundamental investment process.Emerging markets debt securities may include (without limitation) fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper) and collateralized debt and loan obligations.The Fund may also seek to obtain exposure to fixed income investments through investments in affiliated or unaffiliated investment companies, including ETFs.The Fund intends to use structured securities and derivative instruments, including but not limited to credit linked notes, financial future contracts, forward contracts and swap contracts to gain exposure to certain countries, currencies, issuers or indices.The Fund may invest in securities of any credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, many of the issuers of corporate or other privately issued debt obligations in which the Fund invests will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called “high yield” or “junk” bonds) or unrated. Although a majority of the Fund’s assets may be denominated in U.S. Dollars, the Fund may invest in securities denominated in any currency and may be subject to the risk of adverse currency fluctuations.For purposes of the Fund’s policy to invest at least 80% of its Net Assets in debt securities and other instruments of “emerging market country” issuers, the Investment Adviser may consider classifications by the World Bank, the International Finance Corporation, the United Nations (and its agencies) or the Fund’s benchmark index provider in determining whether a country is emerging or developed. Such countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Latin America. An emerging market country issuer is an issuer economically tied to one or more emerging market countries. Quasi-sovereign debt consists of debt securities issued by companies wholly or majority owned by governments or any of their agencies, political subdivisions or instrumentalities and supranational organizations. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities.The Fund may invest up to 20% of its Net Assets in equity and/or equity related securities and corporate, quasi-sovereign and sovereign debt securities and other instruments of issuers in developed market countries. The Fund may also hold significant amounts of U.S. Treasuries, affiliated money market funds and cash.The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM)—Broad Diversified (Gross, USD, Unhedged), plus or minus 2 years, and over the last five years ended June 30, 2024, the duration of this index has ranged between 4.0 and 4.7 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 years will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.The Investment Adviser measures the Fund’s performance against the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM)—Broad Diversified (Gross, USD, Unhedged).THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
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GLIRX - Performance

Return Ranking - Trailing

Period GLIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% -6.2% 459.7% 27.55%
1 Yr 11.8% -3.6% 484.2% 46.94%
3 Yr 2.5%* -7.8% 59.0% 9.86%
5 Yr 0.8%* -7.3% 29.1% 55.35%
10 Yr -0.1%* -5.6% 14.3% 78.38%

* Annualized

Return Ranking - Calendar

Period GLIRX Return Category Return Low Category Return High Rank in Category (%)
2023 -10.4% -10.6% 17.8% 98.30%
2022 -17.5% -29.1% -2.4% 42.25%
2021 -11.6% -24.0% 2.7% 79.29%
2020 -0.2% -14.0% 9.7% 69.00%
2019 8.0% -6.4% 13.0% 56.93%

Total Return Ranking - Trailing

Period GLIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% -6.2% 459.7% 27.55%
1 Yr 11.8% -3.6% 484.2% 46.94%
3 Yr 2.5%* -7.8% 59.0% 9.86%
5 Yr 0.8%* -7.3% 29.1% 55.35%
10 Yr -0.1%* -5.6% 14.3% 78.38%

* Annualized

Total Return Ranking - Calendar

Period GLIRX Return Category Return Low Category Return High Rank in Category (%)
2023 10.2% -0.6% 20.0% 73.13%
2022 -10.7% -27.6% -1.7% 23.24%
2021 -7.6% -18.5% 7.4% 80.36%
2020 4.0% -7.8% 18.0% 67.16%
2019 12.9% -3.0% 23.0% 56.18%

NAV & Total Return History

GLIRX - Holdings

Concentration Analysis

GLIRX Category Low Category High GLIRX % Rank
Net Assets 34.7 M 565 K 14.8 B 79.59%
Number of Holdings 155 4 1860 79.59%
Net Assets in Top 10 4.06 M -134 M 1.25 B 90.14%
Weighting of Top 10 12.94% 5.8% 102.2% 83.85%

Top 10 Holdings

  1. Aeropuertos Dominicanos Siglo XXI SA 1.53%
  2. Goldman Sachs Financial Square Government Fund 1.45%
  3. Yapi ve Kredi Bankasi AS 1.40%
  4. Ecopetrol SA 1.37%
  5. SEPLAT Energy PLC 1.27%
  6. Ipoteka-Bank ATIB 1.25%
  7. Banca Transilvania SA 1.20%
  8. Cemex SAB de CV 1.18%
  9. Bank Gospodarstwa Krajowego 1.16%
  10. NE Property BV 1.13%

Asset Allocation

Weighting Return Low Return High GLIRX % Rank
Bonds 		96.12% 0.00% 105.61% 38.78%
Cash 		2.56% 0.00% 29.76% 71.77%
Stocks 		1.45% -0.01% 96.78% 6.46%
Convertible Bonds 		0.02% 0.00% 8.47% 58.76%
Preferred Stocks 		0.00% 0.00% 2.24% 24.15%
Other 		-0.13% -13.89% 86.73% 80.95%

Stock Sector Breakdown

Weighting Return Low Return High GLIRX % Rank
Utilities 		0.00% 0.00% 11.41% N/A
Technology 		0.00% 0.00% 30.64% N/A
Real Estate 		0.00% 0.00% 2.39% N/A
Industrials 		0.00% 0.00% 100.00% N/A
Healthcare 		0.00% 0.00% 12.25% N/A
Financial Services 		0.00% 0.00% 100.00% N/A
Energy 		0.00% 0.00% 100.00% N/A
Communication Services 		0.00% 0.00% 8.92% N/A
Consumer Defense 		0.00% 0.00% 24.66% N/A
Consumer Cyclical 		0.00% 0.00% 100.00% N/A
Basic Materials 		0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High GLIRX % Rank
US 		1.45% 0.00% 96.53% 3.40%
Non US 		0.00% -0.01% 88.26% 26.53%

Bond Sector Breakdown

Weighting Return Low Return High GLIRX % Rank
Government 		72.14% 0.00% 99.79% 32.65%
Corporate 		8.97% 0.00% 91.26% 74.57%
Cash & Equivalents 		0.00% 0.00% 23.23% 79.25%
Securitized 		0.00% 0.00% 2.41% 33.33%
Municipal 		0.00% 0.00% 0.00% 20.27%
Derivative 		-0.13% -3.00% 13.76% 80.61%

Bond Geographic Breakdown

Weighting Return Low Return High GLIRX % Rank
US 		91.62% -42.31% 99.15% 31.29%
Non US 		4.50% 0.00% 132.49% 66.33%

GLIRX - Expenses

Operational Fees

GLIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.18% 0.02% 32.92% 13.99%
Management Fee 0.80% 0.00% 1.10% 80.61%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

GLIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

GLIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 38.71%

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.

GLIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 123.00% 0.00% 218.00% 89.11%

GLIRX - Distributions

Dividend Yield Analysis

GLIRX Category Low Category High GLIRX % Rank
Dividend Yield 6.81% 0.00% 22.22% 1.36%

Dividend Distribution Analysis

GLIRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

GLIRX Category Low Category High GLIRX % Rank
Net Income Ratio 3.70% -2.28% 8.00% 70.03%

Capital Gain Distribution Analysis

GLIRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

GLIRX - Fund Manager Analysis

Managers

Samuel Finkelstein

Start Date

Tenure

Tenure Rank

Feb 15, 2008

14.3

14.3%

Samuel Finkelstein is head of Currency, Commodities and Emerging Market Debt strategy teams within the Global Fixed Income team in GSAM. He is also a member of the Fixed Income Strategy Group. Mr. Finkelstein joined Goldman Sachs in 1997 as an analyst in Fixed Income Asset Management. He worked on the Fixed Income portfolio risk and strategy team for two years and then became an emerging market portfolio manager. Mr. Finkelstein was named managing director in 2005 and partner in 2010. Prior to joining the firm, he worked as a foreign exchange trader at Union Bank of Switzerland. Mr. Finkelstein earned an MBA from the Stern School of Business at New York University and a BA in Economics and Mathematics from Yale University in 1996.

Ricardo Penfold

Start Date

Tenure

Tenure Rank

Feb 15, 2008

14.3

14.3%

Penfold is vice president at GSAM,and he joined GSAM in 2000.Prior to that he was head of Research and Economics in Venezuela for Santander Investments and Banco Santander Central Hispano for four years.

Kay Haigh

Start Date

Tenure

Tenure Rank

Jul 29, 2020

1.84

1.8%

Mr. Haigh is the Global Co-Head of Emerging Markets. Prior to joining the Goldman Sachs Asset Management, he was an emerging markets portfolio manager at Stone Milliner Asset Management, and he was global head of emerging markets at Morgan Stanley Investment Management.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.15 23.87 6.5 6.11

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