Goldman Sachs Global Fixed Income Portfolio (Hedged) Class IO Shares (USD-Hedged)/  LU0280953091  /

The Portfolio seeks to provide income and capital growth over the longer term. The Portfolio will mostly invest in investment grade (or equivalent) fixed income securities of any type of issuer based anywhere in the world. The Portfolio will generally seek to hedge its currency exposure from its investments back to EUR. There may however be active investment currency exposures in the Portfolio where the Investment Adviser seeks to generate return. The Portfolio will not invest more than 33% of its assets in other securities and instruments. Additionally, it will not invest more than 25% in convertibles (securities that can be converted into other types of securities). These convertibles may include contingent convertible bonds ("CoCos") of banks, finance and insurance companies which have a particular risk profile as set out below. The Portfolio may, under certain circumstances, have limited holdings in shares and similar instruments.

The Portfolio seeks to provide income and capital growth over the longer term. The Portfolio will mostly invest in investment grade (or equivalent) fixed income securities of any type of issuer based anywhere in the world.