Goldman Sachs Asset Management Strengthens Overall Fixed Income Fund Platform

Goldman Sachs Asset Management (“GSAM”) today announced that it has changed the name of the Goldman Sachs Core Plus Fixed Income Fund to the Goldman Sachs Bond Fund1 (“the Fund”; Class A shares: GSFAX; Class I: GSNIX). The Fund offers investors a globally diversified approach to fixed income.

“We believe the Fund name change will help existing and new investors understand how the Goldman Sachs Bond Fund can offer a core bond allocation in their portfolios, with the flexibility to invest in a broad range of global fixed income asset classes,” said Jim McNamara, Global Head of Third Party Distribution.

The Goldman Sachs Bond Fund is an enhanced approach to a core allocation with global diversification. The Fund allows investors to access opportunities outside a traditional core fixed income portfolio, while seeking to manage risk. Since its inception in 2006, the Fund has pursued a total return consisting of capital appreciation and income, exceeding the Barclays US Aggregate Bond Index benchmark.

“Successfully navigating today’s bond markets requires an understanding of the diverse sources of risk and return, and a multi-country approach to managing interest rate volatility,” said Jonathan Beinner, Chief Investment Officer of Global Fixed Income at GSAM . “We remain constructive on credit fundamentals and growth outlooks, and expect US interest rates to rise in 2015. The Goldman Sachs Bond Fund’s strategy enables it to be positioned to react to volatility and adjust to duration risk.”

Ranked #1 in US actively managed mutual fund fixed income flows (as of August 2014)2, the GSAM Fixed Income & Liquidity Management team comprises 270 members worldwide (as of June 30, 2014). With more than $469 billion in fixed income assets under supervision (as of June 30, 2014)3, the team provides investors with cost-effective product solutions, using investment processes that are research-driven and supported by active and dynamic risk management across the fixed income spectrum.4

“We believe that there isn’t a single bond solution. Investors will continue to need a core allocation, but with a global approach to core fixed income,” said Michael Swell, Portfolio Manager of the Fund.

The Fund ticker symbols and investment minimums remain the same. It will continue to be offered in Class A and C shares with $1,000 minimum initial investments. Additionally, the Fund offers Institutional, Class R and Class IR Shares. The Fund is also highly rated by Morningstar in the Intermediate-Term Bond Fund category: Class I shares of the Goldman Sachs Bond Fund received 4 stars for the 3-year period and 4 stars for the 5-year period among 929 and 808 Morningstar Intermediate-Term Bond Funds, respectively (as of September 30, 2014).

Goldman Sachs Asset Management offers a number of fixed income funds with first and second quartile Morningstar category rankings (as of August 31, 2014) including short-duration, multi-sector, single sector and municipal bond funds.

GSAM is the asset management arm of The Goldman Sachs Group, Inc. (NYSE:GS), which oversees $1.14 trillion as of June 30, 2014. Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.

The Goldman Sachs Bond Fund invests primarily in fixed income securities, including U.S. government securities, corporate debt securities, privately issued mortgage-backed securities, asset-backed securities, high yield non-investment grade securities and fixed income securities of issuers located in emerging countries. The Fund’s investments in fixed income securities are subject to the risks associated with debt securities generally, including credit, liquidity and interest rate risk. Any guarantee on U.S. government securities applies only to the underlying securities of the Fund if held to maturity and not to the value of the Fund’s shares. Investments in mortgage-backed securities are also subject to prepayment risk (i.e., the risk that in a declining interest rate environment, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). High yield, lower rated investments involve greater price volatility and present greater risks than higher rated fixed income securities. Foreign and emerging markets investments may be more volatile and less liquid than investments in U.S. securities and are subject to the risks of currency fluctuations and adverse economic and political developments. Derivative instruments may involve a high degree of financial risk. These risks include the risk that a small movement in the price of the underlying security or benchmark may result in a disproportionately large movement, unfavorable or favorable, in the price of the derivative instrument; risks of default by a counterparty; and liquidity risk (i.e., the risk that an investment may not be able to be sold without a substantial drop in price, if at all).

Morningstar Risk-Adjusted Ratings - The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating Metrics. Morningstar, Inc. is an independent publisher of mutual fund research and ratings. Ratings reflect a fund’s risk-adjusted 3-, 5, and 10-year total returns, including any sales charge. A Fund is rated against all other funds in its category. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%; 3 stars to the next 35%; 2 stars to the next 22.5%; and 1 star to the bottom 10%. Morningstar only rates funds with at least a 3-year history. Source: Morningstar.

Past performance does not guarantee future results. Diversification does not protect an investor from market risk and does not ensure a profit.

1 The prospectus supplement notifying shareholders of the change was filed with the SEC on August 15, 2014.
2 Strategic Insight, Simfund. Excludes index funds, ETF’s and fund of funds. Goldman Sachs is #1 YTD (as of August 2014) for net flows.
3 Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion.
4 The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk.

Goldman, Sachs & Co. is the distributor of the Goldman Sachs Funds.

A summary prospectus, if available, or a Prospectus for the Fund containing more information may be obtained from your authorized institution or from Goldman, Sachs & Co. by calling (retail - 1-800-526-7384) (institutional – 1-800-621-2550). Please consider a fund's objectives, risks, and charges and expenses, and read the summary prospectus, if available, and the Prospectus carefully before investing. The summary prospectus, if available, and the Prospectus contains this and other information about the Fund.

© 2014 Goldman Sachs. All rights reserved. Date of first use: October 8, 2014 140968.MF.MED.OTU