February 29, 2012
NEW YORK, February 29, 2012 – Goldman Sachs Asset Management, L.P. (GSAM) today announced the launch of the Goldman Sachs Short Duration Income Fund (Class A Shares: GDIAX). The Fund uses a multi sector short duration strategy that seeks to provide investors with total return consisting of income and capital appreciation by investing in short duration fixed income securities, primarily investment grade, within sectors such as corporate bonds, mortgage- and asset-backed securities, and government securities.
“Faced with volatile markets and low US interest rates, investors are looking to maximize income from their fixed income portfolios while minimizing interest rate risk,” said David Fishman, Co-Lead Portfolio Manager of the Goldman Sachs Short Duration Income Fund.
Added James McCarthy, the Fund’s Co-Lead Portfolio Manager: “The Goldman Sachs Short Duration Income Fund seeks added income from a variety of fixed income sectors beyond government bonds. It provides flexible diversification that factors in market conditions and has the potential to dampen overall portfolio risk with lower interest rate sensitivity.”
GSAM’s Global Liquidity Management (GLM) team – one of the largest global teams in the industry with more than $250 billion in assets under management as of 12/31/2011 – will oversee the management of the Fund. Co-headed by James McCarthy and David Fishman, the team has been managing total return products and short duration strategies for over 20 years.
The Fund is offered in Class A and Class C Shares, both with $1,000 minimum initial investments, as well as Institutional, Class R and Class IR Shares.
Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $821 billion as of December 31, 2011. Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1988 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 investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
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Andrea Raphael Tel: 212-357-0025
Jason Weinzimer Tel: 212-445-8245
The Goldman Sachs Short Duration Income Fund invests primarily in U.S. or foreign fixed income securities, including U.S. government securities, corporate debt securities, collateralized loan obligations, agency and privately issued mortgage-backed securities, asset-backed securities, high yield non-investment grade securities, bank loans and emerging countries debt. The Fund’s investments in fixed income securities are subject to the risks associated with debt securities generally, including credit, liquidity, interest rate, call and extension risk. Any 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 also subject to prepayment risk (i.e., the risk that in a declining interest rate environment, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). High yield, lower rated securities involve greater price volatility and present greater risks than higher rated fixed income securities. Indirect loan participations may subject the Fund to greater delays, expenses and risks than direct obligations in the case that a borrower fails to pay scheduled principal and interest. The Fund may invest in foreign and emerging markets securities, which may be more volatile and less liquid than investments in U.S. securities and will be subject to the risks of currency fluctuations and adverse economic and political developments. 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 liquidity risk (i.e., the risk that an investment may not be able to be sold without a substantial drop in price, if at all). The Fund’s use of derivatives may result in leverage, which can make the Fund more volatile. The Fund’s investments in other investment companies subject it to additional expenses. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in bonds of similar projects or in particular types of municipal securities.
The summary prospectus and prospectus for the fund containing more information may be obtained from your financial advisor. Please consider the fund’s objectives, risks, charges and expenses, and read the summary prospectus and/or the prospectus carefully before investing. The summary prospectus and the prospectus contain this and other information about the fund. To learn more, visit www.gsam.com.
Goldman, Sachs & Co. is distributor of the Goldman Sachs Funds.
Opinions expressed are current opinions as of the date appearing in this material only. No part of this material may, without GSAM’s prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.