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Name

As of 04/12/2024

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 Short-Term Conservative Income Fund

GPPIX | Fund

$10.07

$1.89 B

0.00%

0.33%

Vitals

YTD Return

1.8%

1 yr return

5.8%

3 Yr Avg Return

2.8%

5 Yr Avg Return

2.3%

Net Assets

$1.89 B

Holdings in Top 10

17.5%

52 WEEK LOW AND HIGH

$10.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.33%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 102.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/12/2024

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 Short-Term Conservative Income Fund

GPPIX | Fund

$10.07

$1.89 B

0.00%

0.33%

GPPIX - Profile

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 2.8%
  • 5 Yr Annualized Total Return 2.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.22%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs Short-Term Conservative Income Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Feb 28, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Dave Fishman

Fund Description

The Fund pursues its investment objective by investing in a broad range of high quality, U.S. dollar-denominated fixed income instruments, including obligations issued or guaranteed by the U.S. Government, its agencies, authorities, instrumentalities or sponsored enterprises (“U.S. Government Securities”), obligations of U.S. banks, corporate notes, commercial paper and other short-term obligations of U.S. companies, certificates of deposit, states, municipalities and other entities, fixed and floating rate asset-backed securities and repurchase agreements. 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. The Fund will not invest in mortgage-backed securities or derivatives.The Fund may also seek to obtain exposure to fixed income investments through investments in affiliated or unaffiliated investment companies, including exchange-traded funds (“ETFs”).In pursuing the Fund’s investment objective, the Investment Adviser will seek to enhance the Fund’s return by identifying those high quality, U.S. dollar-denominated fixed income instruments that are within the maturity guidelines discussed below and that the Investment Adviser believes offer attractive yields relative to other similar securities, consistent with preservation of capital and liquidity.The Fund will concentrate its investments in the financial services group of industries. Therefore, under normal circumstances, the Fund will invest more than 25% of its total assets in securities issued by companies in the financial services group of industries and repurchase agreements secured by such obligations. The Fund may, however, invest less than 25% of its total assets in this group of industries as a temporary defensive position.The Fund’s benchmarks are the Bloomberg Short-Term Government/Corporate Index and the ICE BofAML 3-6 Month U.S. Treasury Bill Index.Credit Quality GuidelinesThe Fund will invest at least 85% of its total assets in securities (or the issuers of such securities) that are rated, at the time of purchase, in the highest short-term credit rating category by at least one nationally recognized statistical rating organization (“NRSRO”) (A-1, P-1, or F1 by S&P Global Ratings (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch Ratings, Inc. (“Fitch”), respectively), or, if such securities only maintain long term ratings or are unrated, determined by the Investment Adviser to be of comparable credit quality at the time of purchase (e.g., minimum long-term credit rating of A- by Standard & Poor’s or Fitch, or A3 by Moody’s). The remainder of the Fund’s investments will carry a minimum short-term credit rating of A-2, P-2, or F2 by Standard & Poor’s, Moody’s or Fitch, respectively, at the time of purchase, or, if such securities only maintain long term ratings or are unrated, determined by the Investment Adviser to be of comparable credit quality at the time of purchase (e.g., minimum long-term credit rating of BBB by Standard & Poor’s or Fitch, or Baa2 by Moody’s). The Fund may also rely on the credit quality of a guarantee or demand feature in determining the credit quality of a security supported by the guarantee or demand feature.Maturity GuidelinesExcept for floating rate and variable rate securities, the Fund will invest in securities that have remaining maturities of two years or less at the time of purchase, with limited exceptions where a security has maturity shortening features (e.g., demand features). Floating rate and variable rate securities must have remaining maturities of three years or less at the time of purchase, with limited exceptions where a security has maturity shortening features (e.g., demand features). The Fund will maintain a dollar-weighted average portfolio maturity (“WAM”) that does not exceed approximately nine months and a dollar-weighted average portfolio life (“WAL”) that does not exceed approximately one year.THE FUND IS NOT A MONEY MARKET FUND AND DOES NOT ATTEMPT TO MAINTAIN A STABLE NET ASSET VALUE.Liquidity Solutions Investment PhilosophyThe Fund is managed to seek to generate current income and secondarily maintain an emphasis on preservation of capital and liquidity. The Investment Adviser follows a conservative, risk-managed investment process.Our process:◼Combines diversified sources of return by employing multiple strategies◼Takes a global perspective to seek relative value opportunities◼Considers a wide range of factors as part of the fundamental investment process, which may include environmental, social and governance (“ESG”) factors◼Employs focused specialist teams to seek to identify short-term mis-pricings and incorporate long-term views◼Emphasizes a risk-aware approach as we view risk management as both an offensive and defensive toolNo one factor or consideration is determinative in the fundamental investment process.
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GPPIX - Performance

Return Ranking - Trailing

Period GPPIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -1.3% 3.1% 37.33%
1 Yr 5.8% -0.9% 13.0% 42.13%
3 Yr 2.8%* -2.1% 5.8% 16.02%
5 Yr 2.3%* -1.0% 3.9% 28.34%
10 Yr 1.8%* -4.5% 27.5% 37.61%

* Annualized

Return Ranking - Calendar

Period GPPIX Return Category Return Low Category Return High Rank in Category (%)
2023 0.6% -2.3% 4.3% 80.18%
2022 -0.4% -6.5% 0.5% 7.62%
2021 -0.3% -2.1% 0.3% 33.33%
2020 0.3% -3.1% 1.8% 49.74%
2019 0.4% -1.2% 6.1% 65.22%

Total Return Ranking - Trailing

Period GPPIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -1.3% 3.1% 37.33%
1 Yr 5.8% -0.9% 13.0% 42.13%
3 Yr 2.8%* -2.1% 5.8% 16.02%
5 Yr 2.3%* -1.0% 3.9% 28.34%
10 Yr 1.8%* -4.5% 27.5% 37.61%

* Annualized

Total Return Ranking - Calendar

Period GPPIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% 0.8% 12.1% 35.94%
2022 1.3% -5.1% 2.5% 4.76%
2021 0.0% -2.1% 14.5% 61.76%
2020 1.6% -1.0% 3.6% 49.74%
2019 3.0% 0.3% 9.6% 50.54%

NAV & Total Return History

GPPIX - Holdings

Concentration Analysis

GPPIX Category Low Category High GPPIX % Rank
Net Assets 1.89 B 25.6 K 22.6 B 36.65%
Number of Holdings 237 2 1291 54.30%
Net Assets in Top 10 332 M 32.5 K 18.4 B 34.84%
Weighting of Top 10 17.51% 5.6% 163.3% 59.73%

Top 10 Holdings

  1. Goldman Sachs Financial Square Government Fund 4.53%
  2. United States Treasury Floating Rate Note 2.46%
  3. United States Treasury Note/Bond 1.85%
  4. JPMorgan Chase Co 1.77%
  5. United States Treasury Note/Bond 1.34%
  6. Bank of Nova Scotia/The 1.18%
  7. Lloyds Bank Corporate Markets PLC/New York NY 1.17%
  8. AerCap Ireland Capital DAC / AerCap Global Aviation Trust 1.12%
  9. United States Treasury Floating Rate Note 1.07%
  10. Volkswagen Group of America Finance LLC 1.02%

Asset Allocation

Weighting Return Low Return High GPPIX % Rank
Bonds 		62.43% 0.00% 128.16% 77.83%
Cash 		33.11% 0.00% 109.89% 9.05%
Convertible Bonds 		7.97% 0.00% 15.25% 15.45%
Stocks 		4.53% 0.00% 97.29% 5.88%
Preferred Stocks 		0.00% 0.00% 0.00% 93.21%
Other 		0.00% -29.59% 99.92% 90.05%

Stock Sector Breakdown

Weighting Return Low Return High GPPIX % Rank
Utilities 		0.00% 0.00% 0.87% N/A
Technology 		0.00% 0.00% 32.06% N/A
Real Estate 		0.00% 0.00% 0.00% N/A
Industrials 		0.00% 0.00% 2.85% N/A
Healthcare 		0.00% 0.00% 4.23% N/A
Financial Services 		0.00% 0.00% 99.34% N/A
Energy 		0.00% 0.00% 100.00% N/A
Communication Services 		0.00% 0.00% 11.28% N/A
Consumer Defense 		0.00% 0.00% 4.16% N/A
Consumer Cyclical 		0.00% 0.00% 11.26% N/A
Basic Materials 		0.00% 0.00% 0.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High GPPIX % Rank
US 		4.53% 0.00% 97.29% 5.88%
Non US 		0.00% 0.00% 0.00% 93.21%

Bond Sector Breakdown

Weighting Return Low Return High GPPIX % Rank
Corporate 		41.27% 0.00% 99.91% 46.82%
Cash & Equivalents 		33.11% 0.00% 109.89% 9.05%
Government 		11.28% 0.00% 100.00% 29.55%
Municipal 		0.96% 0.00% 70.39% 18.18%
Derivative 		0.00% -29.59% 21.59% 64.25%
Securitized 		0.00% 0.00% 100.00% 96.82%

Bond Geographic Breakdown

Weighting Return Low Return High GPPIX % Rank
US 		62.43% 0.00% 128.16% 75.11%
Non US 		0.00% 0.00% 22.24% 93.67%

GPPIX - Expenses

Operational Fees

GPPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.33% 0.02% 28.11% 73.97%
Management Fee 0.25% 0.00% 1.19% 56.11%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

GPPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

GPPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% N/A

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.

GPPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 102.00% 0.00% 369.54% 76.88%

GPPIX - Distributions

Dividend Yield Analysis

GPPIX Category Low Category High GPPIX % Rank
Dividend Yield 0.00% 0.00% 8.10% 19.00%

Dividend Distribution Analysis

GPPIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

GPPIX Category Low Category High GPPIX % Rank
Net Income Ratio 0.22% -1.30% 14.86% 72.77%

Capital Gain Distribution Analysis

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

Distributions History

View More +

GPPIX - Fund Manager Analysis

Managers

Dave Fishman

Start Date

Tenure

Tenure Rank

Feb 28, 2014

8.26

8.3%

Managing director of Goldman Sachs since 2001, and co-head of the Goldman Sachs global liquidity management team since 2008 as a result of a merger between the Goldman Sachs money market team with the Goldman Sachs short duration team. Mr. Fishman was head of the Goldman Sachs money market team since 2002. Mr. Fishman joined the Goldman Sachs Asset Management, L.P. in 1997 after working at Bankers Trust as a Portfolio Manager. He has over 22 years of investment experience. Mr. Fishman has a BS from The Wharton School of the University of Pennsylvania and an MBA from New York University, Stern School of Business.

John Olivo

Start Date

Tenure

Tenure Rank

Feb 11, 2016

6.3

6.3%

Mr. Olivo is the global head of short duration fixed income strategies. In this role, Mr. Olivo is responsible for portfolio management of several of GSAM’s short duration funds as well as portfolio construction and oversight for investment mandates on behalf of central banks, balance sheet clients, and financial institutions. Previously, he was a member of the short-term taxable portfolio management team and co-managed the U.S. Government money market funds. Mr. Olivo also managed the separate account money market business. Mr. Olivo is a member of the Investment Strategy Committee. He joined GSAM in 1995 as a portfolio trading assistant and was responsible for the daily compliance of all of the taxable money market funds.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.56 0.13

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