Form 497K GOLDMAN SACHS TRUST
Summary
Prospectus
April 30, 2021
Goldman Sachs Satellite Strategies Portfolio
Class
A: GXSAX Class C: GXSCX Institutional: GXSIX Service: GXSSX Investor: GXSTX Class R: GXSRX Class R6: GXSUX
Before you invest, you
may want to review the Goldman Sachs Satellite Strategies Portfolio (the “Fund”) Prospectus, which contains more information about the Fund and its risks. You can find the Fund’s Prospectus, reports to shareholders and other
information about the Fund online at http://www.gsamfunds.com/mutualfunds. You can also get this information at no cost by calling 800-621-2550 or by sending an e-mail request to
[email protected]. The Fund’s Prospectus and Statement of Additional Information (“SAI”), both dated April 30, 2021, are incorporated by reference into this Summary Prospectus.
Shareholder Fees
(fees paid directly from your
investment)
Class A | Class C | Institutional | Service | Investor | Class R | Class R6 | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | 5.50% | None | None | None | None | None | None |
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds)1 | None | 1.00% | None | None | None | None | None |
2 Summary
Prospectus — Goldman Sachs Satellite Strategies Portfolio
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the
value of your investment)
Class A | Class C | Institutional | Service | Investor | Class R | Class R6 | |
Management Fees | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% |
Distribution and/or Service (12b-1) Fees | 0.25% | 0.75% | None | 0.25% | None | 0.50% | None |
Other Expenses2 | 0.36% | 0.61% | 0.24% | 0.49% | 0.36% | 0.36% | 0.23% |
Service Fees | None | 0.25% | None | None | None | None | None |
Shareholder Administration Fees | None | None | None | 0.25% | None | None | None |
All Other Expenses | 0.36% | 0.36% | 0.24% | 0.24% | 0.36% | 0.36% | 0.23% |
Acquired (Underlying) Fund Fees and Expenses | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Total Annual Fund Operating Expenses3 | 1.57% | 2.32% | 1.20% | 1.70% | 1.32% | 1.82% | 1.19% |
Expense Limitation4 | (0.19%) | (0.19%) | (0.19%) | (0.19%) | (0.19%) | (0.19%) | (0.19%) |
Total Annual Fund Operating Expenses After Expense Limitation3 | 1.38% | 2.13% | 1.01% | 1.51% | 1.13% | 1.63% | 1.00% |
1 | A contingent deferred sales charge (“CDSC”) of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. |
2 | The "Other Expenses" for Class A, Class C, Investor, Class R and Class R6 Shares have been restated to reflect expenses expected to be incurred during the current fiscal year. |
3 | The “Total Annual Fund Operating Expenses” and “Total Annual Fund Operating Expenses After Expense Limitation” do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include “Acquired (Underlying) Fund Fees and Expenses.” |
4 | The Investment Adviser has agreed to reduce or limit “Other Expenses” (excluding acquired (underlying) fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, expenses of shareholder meetings, litigation and indemnification, and extraordinary expenses) to 0.01% of the Fund’s average daily net assets through at least April 30, 2022, and prior to such date, the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. |
3 Summary
Prospectus — Goldman Sachs Satellite Strategies Portfolio
4 Summary
Prospectus — Goldman Sachs Satellite Strategies Portfolio
5 Summary
Prospectus — Goldman Sachs Satellite Strategies Portfolio
6 Summary
Prospectus — Goldman Sachs Satellite Strategies Portfolio
7 Summary
Prospectus — Goldman Sachs Satellite Strategies Portfolio
AVERAGE ANNUAL TOTAL RETURN |
For the period ended December 31, 2020 | 1 Year | 5 Years | 10 Years |
Class A Shares (Inception 3/30/2007) | |||
Returns Before Taxes | -2.25% | 4.65% | 3.43% |
Returns After Taxes on Distributions | -2.93% | 3.56% | 2.29% |
Returns After Taxes on Distributions and Sale of Fund Shares | -1.27% | 3.17% | 2.22% |
Satellite Strategies Composite Index | 11.58% | 8.82% | 7.58% |
S&P 500® Index (reflects no deduction for fees or expenses) | 18.34% | 15.20% | 13.87% |
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | 7.49% | 4.43% | 3.84% |
MSCI ® EAFE® Net Total Return Index (reflects no deduction for fees or expenses) | 7.79% | 7.44% | 5.50% |
Class C Shares (Inception 3/30/2007) | |||
Returns Before Taxes | 1.59% | 5.04% | 3.22%* |
Satellite Strategies Composite Index | 11.58% | 8.82% | 7.58% |
S&P 500® Index (reflects no deduction for fees or expenses) | 18.34% | 15.20% | 13.87% |
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | 7.49% | 4.43% | 3.84% |
MSCI ® EAFE® Net Total Return Index (reflects no deduction for fees or expenses) | 7.79% | 7.44% | 5.50% |
Institutional Shares (Inception 3/30/2007) | |||
Returns Before Taxes | 3.81% | 6.27% | 4.43% |
Satellite Strategies Composite Index | 11.58% | 8.82% | 7.58% |
S&P 500® Index (reflects no deduction for fees or expenses) | 18.34% | 15.20% | 13.87% |
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | 7.49% | 4.43% | 3.84% |
MSCI ® EAFE® Net Total Return Index (reflects no deduction for fees or expenses) | 7.79% | 7.44% | 5.50% |
Service Shares (Inception 8/29/2008) | |||
Returns Before Taxes | 3.32% | 5.75% | 3.92% |
Satellite Strategies Composite Index | 11.58% | 8.82% | 7.58% |
S&P 500® Index (reflects no deduction for fees or expenses) | 18.34% | 15.20% | 13.87% |
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | 7.49% | 4.43% | 3.84% |
MSCI ® EAFE® Net Total Return Index (reflects no deduction for fees or expenses) | 7.79% | 7.44% | 5.50% |
Investor Shares (Inception 11/30/2007) | |||
Returns Before Taxes | 3.55% | 6.09% | 4.26% |
Satellite Strategies Composite Index | 11.58% | 8.82% | 7.58% |
S&P 500® Index (reflects no deduction for fees or expenses) | 18.34% | 15.20% | 13.87% |
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | 7.49% | 4.43% | 3.84% |
MSCI ® EAFE® Net Total Return Index (reflects no deduction for fees or expenses) | 7.79% | 7.44% | 5.50% |
Class R Shares (Inception 11/30/2007) | |||
Returns | 3.09% | 5.58% | 3.75% |
Satellite Strategies Composite Index | 11.58% | 8.82% | 7.58% |
S&P 500® Index (reflects no deduction for fees or expenses) | 18.34% | 15.20% | 13.87% |
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | 7.49% | 4.43% | 3.84% |
MSCI ® EAFE® Net Total Return Index (reflects no deduction for fees or expenses) | 7.79% | 7.44% | 5.50% |
Class R6 Shares (Inception 7/31/2015)** | |||
Returns Before Taxes | 3.79% | 6.27% | 4.45% |
Satellite Strategies Composite Index | 11.58% | 8.82% | 7.58% |
S&P 500® Index (reflects no deduction for fees or expenses) | 18.34% | 15.20% | 13.87% |
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | 7.49% | 4.43% | 3.84% |
MSCI ® EAFE® Net Total Return Index (reflects no deduction for fees or expenses) | 7.79% | 7.44% | 5.50% |
* | Class C Shares automatically convert into Class A Shares eight years after the purchase date. The 10-Year performance for Class C Shares does not reflect the conversion to Class A Shares after the first eight years of performance. |
** | Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses. |
The after-tax returns are for Class A Shares only.
The after-tax returns for Class C, Institutional, Service, Investor and Class R6 Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical
highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns
shown are not relevant to investors who hold Fund Shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
8 Summary
Prospectus — Goldman Sachs Satellite Strategies Portfolio
FFSUM4-21
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