GOLDMAN SACHS TRUST
Supplement dated October 1, 2014
to the current Summary Prospectuses, Statutory Prospectuses and Statements of
Additional Information for each applicable Goldman Sachs Fund that has Class B Shares, as listed on Exhibit A
(each, a Fund and, collectively, the Funds)
At a meeting held on August 13-14, 2014, the Board of Trustees of the Goldman Sachs Trust approved the early conversion of each Funds Class B Shares into Class A Shares (or Service Shares, with respect to the Goldman Sachs Financial Square Prime Obligations Fund).
Accordingly, effective at the close of business on November 14, 2014 (the Conversion Date), Class B Shares of each Fund will convert to Class A Shares of the Fund (or Service Shares, with respect to the Goldman Sachs Financial Square Prime Obligations Fund), including Class B Shares that are scheduled to convert on a later date. No contingent deferred sales charges (CDSCs) will be assessed in connection with this early conversion. In addition, effective October 15, 2014, redemptions of a Funds Class B Shares before the Conversion Date will not be subject to a CDSC.
The early conversion of each Funds Class B Shares into Class A Shares (or Service Shares, with respect to the Goldman Sachs Financial Square Prime Obligations Fund) is not expected to be a taxable event for federal income tax purposes, and should not result in the recognition of gain or loss by converting shareholders.
This Supplement should be retained with your Summary Prospectus, Statutory Prospectus or Statement of Additional Information for future reference.
EXHIBIT A
Goldman Sachs Asia Equity Fund |
Goldman Sachs Income Builder Fund | |
Goldman Sachs Balanced Strategy Portfolio |
Goldman Sachs International Equity Insights Fund | |
Goldman Sachs Capital Growth Fund |
Goldman Sachs International Small Cap Fund | |
Goldman Sachs Concentrated Growth Fund |
Goldman Sachs Large Cap Growth Insights Fund | |
Goldman Sachs Core Fixed Income Fund |
Goldman Sachs Large Cap Value Fund | |
Goldman Sachs Bond Fund |
Goldman Sachs Large Cap Value Insights Fund | |
Goldman Sachs Emerging Markets Equity Fund |
Goldman Sachs Mid Cap Value Fund | |
Goldman Sachs Enhanced Income Fund |
Goldman Sachs Municipal Income Fund | |
Goldman Sachs Equity Growth Strategy Portfolio |
Goldman Sachs Real Estate Securities Fund | |
Goldman Sachs Financial Square Prime Obligations Fund |
Goldman Sachs Small Cap Equity Insights Fund | |
Goldman Sachs Focused International Equity Fund |
Goldman Sachs Small Cap Growth Insights Fund | |
Goldman Sachs Global Income Fund |
Goldman Sachs Small Cap Value Fund | |
Goldman Sachs Government Income Fund |
Goldman Sachs Small Cap Value Insights Fund | |
Goldman Sachs Growth and Income Fund |
Goldman Sachs Small/Mid Cap Growth Fund | |
Goldman Sachs Growth and Income Strategy Portfolio |
Goldman Sachs Strategic Growth Fund | |
Goldman Sachs Growth Opportunities Fund |
Goldman Sachs Strategic International Equity Fund | |
Goldman Sachs Growth Strategy Portfolio |
Goldman Sachs Technology Tollkeeper Fund | |
Goldman Sachs High Yield Fund |
Goldman Sachs U.S. Equity Insights Fund | |
Goldman Sachs High Yield Municipal Fund |
Goldman Sachs U.S. Tax-Managed Equity Fund |
BCLSCONSTK 10-14