Form 497K GOLDMAN SACHS TRUST
Summary
Prospectus
July 29, 2021
Goldman Sachs Local Emerging Markets Debt Fund
Class A: GAMDX Class C: GCMDX Institutional:
GIMDX Investor: GLIRX Class R6: GIMSX
Before you invest, you may want to review the Goldman Sachs
Local Emerging Markets Debt Fund (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 www.gsamfunds.com/mutualfunds. You can also get this information at no cost by calling 800-621-2550 for Institutional and Class R6 shareholders, 800-526-7384 for all other shareholders or by sending an
e-mail request to [email protected]. The Fund’s Prospectus and Statement of Additional Information (“SAI”), both dated July 29, 2021, are incorporated by reference into this Summary Prospectus.
Shareholder Fees
(fees paid directly from your
investment)
Class A | Class C | Institutional | Investor | Class R6 | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | 4.50% | 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 |
Annual Fund Operating
Expenses
(expenses that you pay each
year as a percentage of the value of your investment)
Class A | Class C | Institutional | Investor | Class R6 | |
Management Fees | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
Distribution and/or Service (12b-1) Fees | 0.25% | 0.75% | None | None | None |
Other Expenses | 0.78% | 1.03% | 0.70% | 0.78% | 0.69% |
Service Fees | None | 0.25% | None | None | None |
All Other Expenses | 0.78% | 0.78% | 0.70% | 0.78% | 0.69% |
Total Annual Fund Operating Expenses | 1.84% | 2.59% | 1.51% | 1.59% | 1.50% |
Fee Waiver and Expense Limitation2 | (0.63%) | (0.63%) | (0.60%) | (0.63%) | (0.60%) |
Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation | 1.21% | 1.96% | 0.91% | 0.96% | 0.90% |
1 | A contingent deferred sales charge (“CDSC”) of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. |
2 | The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to the affiliated funds in which the Fund invests; and (ii) reduce or limit “Other Expenses” (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, expenses of shareholder meetings, litigation and indemnification, and extraordinary expenses) to 0.074% of the Fund’s average daily net assets. Additionally, Goldman Sachs & Co. LLC (“Goldman Sachs”), the Fund’s transfer agent, has agreed to waive a portion of its transfer agency fee (a component of “Other Expenses”) equal to 0.03% as an annual percentage rate of the average daily net assets attributable to Class A, Class C and Investor Shares of the Fund. These arrangements will remain in effect through at least July 29, 2022, and prior to such date, the Investment Adviser and Goldman Sachs may not terminate the arrangements without the approval of the Board of Trustees. |
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SSFISUM5-21
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