GOLDMAN SACHS TRUST
Goldman Sachs Select Satellite Funds
Class A, Class C, Institutional, Class IR, Class R and Class R6 Shares of the
Goldman Sachs Dynamic Allocation Fund
(the Fund)
Supplement dated November 5, 2015 to the
Prospectus (the Prospectus) and the Statement of Additional Information (the SAI),
each dated July 31, 2015
Effective immediately, Osman Ali no longer serves as a portfolio manager for the Fund. Accordingly, all references to Mr. Ali in the Prospectus and SAI are hereby deleted in their entirety.
This Supplement should be retained with your Prospectus and SAI for
future reference.
SELSAT3PMSTK 11-15