Form 497K GOLDMAN SACHS TRUST
Summary
Prospectus
July 29, 2021
Goldman Sachs Investment Grade Credit Fund
Class
A: GSGAX Institutional: GSGDX Investor: GTIRX Separate Account Institutional Shares: GSCPX Class R6: GTIUX
Before
you invest, you may want to review the Goldman Sachs Investment Grade Credit 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, Separate Account 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 | Institutional | Investor | Separate Account Institutional | Class R6 | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | 3.75% | None | None | None | None |
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) | None | None | None | None | None |
Annual Fund Operating
Expenses
(expenses that you pay each
year as a percentage of the value of your investment)
Class A | Institutional | Investor | Separate Account Institutional | Class R6 | |
Management Fees | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% |
Distribution and Service (12b-1) Fees | 0.25% | None | None | None | None |
Other Expenses1 | 0.20% | 0.12% | 0.20% | 0.11% | 0.11% |
Total Annual Fund Operating Expenses | 0.79% | 0.46% | 0.54% | 0.45% | 0.45% |
Expense Limitation2 | (0.08%) | (0.08%) | (0.08%) | (0.08%) | (0.08%) |
Total Annual Fund Operating Expenses After Expense Limitation | 0.71% | 0.38% | 0.46% | 0.37% | 0.37% |
1 | The “Other Expenses” for Class A Shares have been restated to reflect expenses expected to be incurred during the current fiscal year. |
2 | The Investment Adviser has agreed to reduce or limit “Other Expenses” (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, expenses of shareholder meetings, litigation and indemnification, and extraordinary expenses) to 0.004% of the Fund’s average daily net assets. This arrangement will remain in effect through at least July 29, 2022, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. |
2 Summary
Prospectus — Goldman Sachs Investment Grade Credit Fund
3 Summary
Prospectus — Goldman Sachs Investment Grade Credit Fund
4 Summary
Prospectus — Goldman Sachs Investment Grade Credit Fund
AVERAGE ANNUAL TOTAL RETURN |
For the period ended December 31, 2020 | 1 Year | 5 Years | 10 Years | Since
Inception |
Inception
Date |
Class A Shares | 11/3/2003 | ||||
Returns Before Taxes | 5.78% | 5.57% | 5.08% | — | |
Returns After Taxes on Distributions | 4.27% | 4.13% | 3.38% | — | |
Returns After Taxes on Distributions and Sale of Fund Shares | 3.55% | 3.67% | 3.27% | — | |
Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | 9.32% | 6.43% | 5.40% | — | |
Institutional Shares | 11/3/2003 | ||||
Returns Before Taxes | 10.08% | 6.75% | 5.84% | — | |
Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | 9.32% | 6.43% | 5.40% | — | |
Investor Shares | 7/29/2011 | ||||
Returns Before Taxes | 9.99% | 6.66% | N/A | 5.35% | |
Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | 9.32% | 6.43% | N/A | 5.10% | |
Separate Account Institutional Shares | 11/3/2003 | ||||
Returns Before Taxes | 10.20% | 6.78% | 5.85% | — | |
Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | 9.32% | 6.43% | 5.40% | — | |
Class R6 Shares* | 7/31/2015 | ||||
Returns Before Taxes | 10.10% | 6.76% | 5.84% | — | |
Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | 9.32% | 6.43% | 5.40% | — |
* | 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 Institutional, Investor, Separate Account Institutional and Class R6 Shares 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.
SSFISUM4-21
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