Form 497K GOLDMAN SACHS TRUST
Summary
Prospectus
July 29, 2021
Goldman Sachs Short-Term Conservative Income Fund
Class A: GPAPX Institutional: GPPIX Administration:
GPPAX Preferred: GPPPX Investor: GPPOX Class R6: GPPSX
Before you invest, you may want to review the Goldman Sachs
Short-Term Conservative Income 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 | Institutional | Administration | Preferred | Investor | Class R6 | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | None | None | 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 | None |
Maximum Sales Charge (Load) Imposed on Reinvested Dividends | None | None | None | None | None | None |
Redemption Fees | None | None | None | None | None | None |
Exchange Fees | None | 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 | Administration | Preferred | Investor | Class R6 | |
Management Fees | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Distribution and Service (12b-1) Fees | 0.15% | None | None | None | None | None |
Other Expenses1 | 0.14% | 0.06% | 0.31% | 0.16% | 0.14% | 0.05% |
Administration Fees | None | None | 0.25% | 0.10% | None | None |
All Other Expenses | 0.14% | 0.06% | 0.06% | 0.06% | 0.14% | 0.05% |
Acquired Fund Fees and Expenses | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% |
Total Annual Fund Operating Expenses2 | 0.57% | 0.34% | 0.59% | 0.44% | 0.42% | 0.33% |
Fee Waiver and Expense Limitation3 | (0.10%) | (0.10%) | (0.10%) | (0.10%) | (0.10%) | (0.10%) |
Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation2 | 0.47% | 0.24% | 0.49% | 0.34% | 0.32% | 0.23% |
1 | The “Other Expenses” for Preferred Shares have been restated to reflect expenses expected to be incurred during the current fiscal year. |
2 | The “Total Annual Fund Operating Expenses” and "Total Annual Fund Operating Expenses After Expense Limitation" do not correlate to the ratios of the 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 Fund Fees and Expenses.” |
3 | The Investment Adviser has agreed to (i) waive a portion of its management fee in order to achieve an effective net management fee rate of 0.20% as an annual percentage of the Fund’s average daily net assets, and (ii) reduce or limit “Other Expenses” (excluding acquired fund fees and expenses, transfer agency fees and expenses, administration fees, 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. These arrangements will remain in effect through at least July 29, 2022, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. |
2 Summary
Prospectus — Goldman Sachs Short-Term Conservative Income Fund
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Prospectus — Goldman Sachs Short-Term Conservative Income Fund
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Prospectus — Goldman Sachs Short-Term Conservative Income Fund
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Prospectus — Goldman Sachs Short-Term Conservative Income Fund
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Prospectus — Goldman Sachs Short-Term Conservative Income Fund
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Prospectus — Goldman Sachs Short-Term Conservative Income Fund
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8 Summary
Prospectus — Goldman Sachs Short-Term Conservative Income Fund
STCISUM1-21
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