Goldman Sachs Global Multi-Asset Income Portfolio Class P Shares/  LU1032467091  /

The Portfolio seeks total returns consisting mainly of income and with potential for capital appreciation by investing primarily in equity and fixed income securities, with a focus on higher income yielding securities. The Portfolio will mostly hold shares or similar instruments relating to companies globally and fixed income securities of any type of globally based issuer with a focus on higher income yielding, below investment grade, fixed income securities. The Investment Adviser will generally seek to hedge the Portfolio's currency exposure back to the US Dollar. The Portfolio may also seek to generate income through selling covered call options on equity securities or indices. For Distribution Shares, the payment of the proceeds of this strategy is intended to be part of the distribution, if any, of the relevant Share Class at the date on which such distribution is made.

The Portfolio seeks total returns consisting mainly of income and with potential for capital appreciation by investing primarily in equity and fixed income securities, with a focus on higher income yielding securities.