March 30, 2010
Short Duration Government Fund, Mid Cap Value Fund recognized for outstanding performance
NEW YORK, March 30, 2010 – Goldman Sachs Asset Management, L.P. (GSAM) is the recipient of four 2010 U.S. Lipper Fund Awards, including three for Goldman Sachs Short Duration Government Fund and one for Goldman Sachs Mid Cap Value Fund.
The Short Duration Government Fund was cited for achieving the best risk-adjusted performance in institutional shares over the last three-, five- and 10-year periods ended December 31, 2009. The Mid Cap Value Fund received the award for “Best Mid Cap Value Fund” for the 10-year period based on institutional shares.
“We are honored to receive this recognition from Lipper, which validates our firm’s time-tested competency in strategic cash management and our fundamental research approach to building equity and fixed income portfolios from the bottom up,” said Jim McNamara, Managing Director and Head of GSAM's Global Third Party and U.S. Institutional Distribution businesses. “These awards represent the work of two great teams focused on helping our clients achieve their long-term liquidity needs and investment objectives.”
The annual Lipper Awards honor the funds, hedge funds, and fund management firms that have delivered stronger and more consistent performance than their peers, based on Lipper's proprietary fund rating methodology. The Goldman Sachs family of funds has received numerous awards from Lipper over the years. GSAM manages $214 billion in mutual fund assets, spread across a family of equity, fixed income, hybrid and money market funds as of February 28, 2010.
“Our strength in portfolio management is derived from the leading-edge talent and skill of our teams and our commitment to fundamental and quantitative research,” said McNamara. “This commitment is an absolute prerequisite to the superior investment performance that Lipper is recognizing through these awards.”
Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $871 billion as of December 31, 2009.
Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1989 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
To learn more about Goldman Sachs Funds, visit http://www.goldmansachsfunds.com. Prospectuses containing more complete information are available online, and may also be obtained from your authorized dealer or from Goldman, Sachs & Co. by calling 800-526-7384. Please consider a fund's objectives, risks, and charges and expenses, and read the prospectus carefully before investing. The prospectuses contain this and other information about the Funds.
“Best Mid Cap Value Fund” is for the 10-year risk adjusted performance among 60 eligible funds for the period ended Dec. 31, 2009, “Best Short U.S. Government Fund” is for three-, five- and 10-year risk adjusted performance among 80, 76 and 54 eligible funds, respectively, for the period ended Dec. 31, 2009. Fund classification averages are calculated with all eligible share classes for each eligible classification. The calculation periods extend over 36, 60, and 120 months. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund classification winner over three, five, or ten years. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. This is not an offer to buy or sell securities.
Past performance is not indicative of future results, which may vary.
The Short Duration Government Fund is not a money market fund. Investors in this Fund should understand that the net asset value of the Fund will fluctuate, which may result in a loss of the principal amount invested. The Fund’s net asset value and yield are not guaranteed by the U.S. government or by its agencies, instrumentalities or sponsored enterprises. Investments in fixed income securities are subject to the risks associated with debt securities including credit and interest rate risk. The guarantee on U.S. government securities applies only to the underlying securities of the Fund if held to maturity and not to the value of the Fund’s shares. The Fund’s investments in mortgage-backed securities are subject to prepayment risks. These risks may result in greater share price volatility. The Fund may make substantial investments in derivative instruments, including options, financial futures, Eurodollar futures contracts, swaps, option on swaps, structured securities and other derivative investments. Derivative instruments may involve a high degree of financial risk. These risks include the risk that a small movement in the price of the underlying security or benchmark may result in a disproportionately large movement, unfavorable or favorable, in the price of the derivative instrument; risks of default by a counterparty, and the risks that transactions may not be liquid.
The Mid Cap Value Fund invests primarily in mid-capitalization U.S. equity investments and is subject to market risk so that the value of the securities in which it invests may go up or down in response to the prospects of individual companies, particular industry sectors and/or general economic conditions. The securities of mid-capitalization companies involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements.
Goldman, Sachs & Co., distributor of the Funds, is not a bank, and Fund shares distributed by Goldman, Sachs & Co. are neither deposits nor obligations of, nor endorsed, nor guaranteed by any bank or other insured depository institution, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other government agency. Investment in the Funds involves risks, including possible loss of the principal amount invested.
Date of First Use: March 30, 2010 33956.MF.OTU
Andrea Raphael, Goldman Sachs, 212-357-0025
Melissa Daly, Goldman Sachs, 212-357-5296
Sergio H. Morales, Weber Shandwick, 212-445-8018