GSOTX: Goldman Sachs Government Income Inv

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GSOTX Goldman Sachs Government Income Inv


Profile

GSOTX - Profile

Vitals

  • YTD Return 5.4%
  • 3 Yr Annualized Return 2.3%
  • 5 Yr Annualized Return 1.3%
  • Net Assets $381 M
  • Holdings in Top 10 95.7%

52 WEEK LOW AND HIGH

$15.71
$14.79
$15.72

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.83%

SALES FEES

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

BROKERAGE FEES

  • Turnover N/A

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.68%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs Government Income Fund
  • Fund Family Name
    Goldman Sachs
  • Inception Date
    Nov 30, 2007
  • Shares Outstanding
    N/A
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Swell

Fund Description

The fund normally invests at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises and in repurchase agreements collateralized by such securities. Its investments in non-U.S. government securities must be rated AAA or Aaa by a nationally recognized statistical rating organization at the time of purchase, or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality.


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Categories

Fund Company Quick Screens

GSOTX - Fund Company Quick Screens


Performance

GSOTX - Performance

Return Ranking - Trailing

Period GSOTX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -4.2% 8.8% 37.06%
1 Yr 6.4% -4.3% 9.7% 37.56%
3 Yr 2.3%* -2.3% 3.7% 37.43%
5 Yr 1.3%* -14.8% 2.1% 25.00%
10 Yr 0.1%* -2.1% 1.3% 54.41%

* Annualized

Return Ranking - Calendar

Period GSOTX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -0.4% 4.9% 35.90%
2018 -1.7% -3.4% -0.7% 39.89%
2017 0.0% -2.3% 0.9% 32.32%
2016 -0.6% -9.3% 1.4% 8.92%
2015 -1.2% -4.5% 3.3% 23.33%

Total Return Ranking - Trailing

Period GSOTX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -4.2% 8.8% 37.06%
1 Yr 6.4% -4.3% 9.7% 37.56%
3 Yr 2.3%* -1.2% 4.8% 40.94%
5 Yr 1.3%* -14.8% 3.8% 40.13%
10 Yr 1.1%* -2.1% 3.5% 36.76%

* Annualized

Total Return Ranking - Calendar

Period GSOTX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -0.2% 4.9% 40.00%
2018 -1.7% -3.4% 3.0% 56.28%
2017 0.0% -1.9% 2.8% 50.61%
2016 -0.6% -9.3% 1.5% 40.76%
2015 -1.2% -4.5% 3.3% 47.33%

NAV & Total Return History


Holdings

GSOTX - Holdings

Concentration Analysis

GSOTX Category Low Category High GSOTX % Rank
Net Assets 381 M 1.41 M 26.5 B 68.50%
Number of Holdings 386 2 15554 51.50%
Net Assets in Top 10 2.85 M 0 7.2 B 95.00%
Weighting of Top 10 95.73% 0.0% 100.0% 2.06%

Top 10 Holdings

  1. Federal National Mortgage Association 2.5% 16.66%
  2. Federal National Mortgage Association 3% 9.93%
  3. Government National Mortgage Association 3% 7.90%
  4. United States Treasury Notes 1.25% 7.12%
  5. Federal National Mortgage Association 3.5% 6.67%
  6. Government National Mortgage Association 2.5% 6.30%

Asset Allocation

Weighting Return Low Return High GSOTX % Rank
Bonds
96.25% 0.00% 143.49% 46.50%
Cash
3.75% -40.13% 100.00% 52.00%
Stocks
0.00% 0.00% 11.99% 35.50%
Preferred Stocks
0.00% 0.00% 0.01% 35.50%
Other
0.00% -48.95% 15.29% 38.50%
Convertible Bonds
0.00% 0.00% 0.25% 40.00%

Bond Sector Breakdown

Weighting Return Low Return High GSOTX % Rank
Securitized
65.06% 0.00% 98.20% 38.50%
Government
24.62% 0.00% 100.00% 58.50%
Cash & Equivalents
9.46% 0.00% 100.00% 42.50%
Municipal
0.87% 0.00% 14.41% 18.00%
Derivative
0.00% 0.00% 5.72% 42.50%
Corporate
0.00% 0.00% 7.19% 55.00%

Bond Geographic Breakdown

Weighting Return Low Return High GSOTX % Rank
US
96.25% 0.00% 143.49% 46.00%
Non US
0.00% 0.00% 5.02% 57.50%

Expenses

GSOTX - Expenses

Operational Fees

GSOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.83% 0.03% 2.72% 48.68%
Management Fee 0.53% 0.00% 0.85% 90.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

GSOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

GSOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

GSOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 421.00% 85.15%

Distributions

GSOTX - Distributions

Dividend Yield Analysis

GSOTX Category Low Category High GSOTX % Rank
Dividend Yield 0.00% 0.00% 2.37% 42.50%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

GSOTX Category Low Category High GSOTX % Rank
Net Income Ratio 1.68% 0.34% 2.93% 77.16%

Capital Gain Distribution Analysis

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

Dividend Payout History

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Fund Manager Analysis

GSOTX - Fund Manager Analysis

Managers

Michael Swell


Start Date

Tenure

Tenure Rank

Mar 31, 2009

11.26

11.3%

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.

Matthew Kaiser


Start Date

Tenure

Tenure Rank

Jul 29, 2016

3.92

3.9%

Matthew Kaiser, Managing Director of GSAM, is a portfolio manager on the Fixed Income team, focused on securitized and mortgage-backed securities portfolios. He is also responsible for the firm’s industry-leading BOLI (bank-owned life insurance) platform, advises on stable value, core, TIPS, and opportunistic mandates. Mr. Kaiser joined the firm as a managing director in 2009 and managed GSAM’s participation in the Federal Reserve’s program to invest in agency mortgage-backed securities. Mr. Kaiser earned a B.S. in Economics from the Wharton School, of the University of Pennsylvania, in 1982.

Peter Stone


Start Date

Tenure

Tenure Rank

Mar 31, 2020

0.25

0.3%

Mr. Stone is the Head of the North American Government Swaps Strategy within GSAM. He is also a member of the Duration Strategy team. Mr. Stone joined GSAM in 2007.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.15 29.72 8.03 5.43