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Goldman Sachs Global Managed Beta Fund

mutual fund
GGMBX
Payout Change
Pending
Price as of:
$17.2 +0.04 +0.23%
primary theme
N/A
share class
GGMBX (Mutual Fund)

Goldman Sachs Global Managed Beta Fund

Payout Change
Pending
Price as of:
$17.2 +0.04 +0.23%
primary theme
N/A
share class
GGMBX (Mutual Fund)

Goldman Sachs Global Managed Beta Fund

Payout Change
Pending
Price as of:
$17.2 +0.04 +0.23%
primary theme
N/A
share class

Name

As of 12/06/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$17.20

$3.99 B

1.44%

$0.25

0.48%

Vitals

YTD Return

21.1%

1 yr return

26.5%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$3.99 B

Holdings in Top 10

84.9%

52 WEEK LOW AND HIGH

$17.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.48%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 29.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/06/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$17.20

$3.99 B

1.44%

$0.25

0.48%

GGMBX - Profile

Distributions

  • YTD Total Return 21.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.40%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Goldman Sachs Global Managed Beta Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Apr 30, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Neill Nuttall

Fund Description

The Fund primarily seeks to achieve its investment objective by investing in a diversified portfolio of global equity asset classes (the “Underlying Asset Classes”) that provide broad beta exposure to the global equity markets. “Beta” refers to the component of returns that is attributable to broad market risk exposure. The Investment Adviser will determine the capital allocation to the Underlying Asset Classes (and within the Underlying Asset Classes) based on its cycle-aware long term strategic allocation model, which may include factor-based diversification.The Fund currently intends to gain exposure to the Underlying Asset Classes, and in the approximate ranges, listed below:Underlying Asset ClassesRange of Portfolio InvestmentGlobal Large Cap Equity40% – 100%Global Small Cap Equity0% – 30%Emerging Markets Equity0% – 25%The Fund may also employ a macro hedging strategy that seeks to diversify the Fund’s overall exposure to the global equity asset classes. This hedging strategy primarily entails the purchase of options on interest rates or fixed income instruments and it has risk/return characteristics with low expected correlation to that of the global equity markets. The Investment Adviser intends to employ this hedging strategy as a diversifying complement to the Underlying Asset Classes.The Fund may invest in affiliated and unaffiliated exchange-traded funds (“ETFs”), futures and other instruments that provide economic exposures to the Underlying Asset Classes. The Fund may also invest directly in equity securities, including real estate investment trusts (“REITs”).The Fund may invest, without limitation, in securities or obtain exposures to Underlying Asset Classes that are denominated in currencies other than the U.S. dollar. The Fund may use currency management techniques, primarily forward foreign currency contracts, for hedging or non-hedging purposes.The Fund intends to have investments economically tied to at least three countries, including the United States, and may invest in the securities of issuers in emerging market countries. Under normal circumstances, the Fund intends to invest no more than 25% of its total assets in emerging markets equity securities and no more than 30% of its total assets in the securities of small capitalization companies. The Fund may invest without restriction as to issuer capitalization, currency, maturity or credit rating.The Fund may use leverage (e.g., by borrowing or through derivatives). The Fund may invest in derivatives for both hedging and non-hedging purposes. The Fund’s derivative investments may include: (i) futures contracts, including futures based on securities and/or indices; (ii) options, including long and short positions in call options and put options on indices, or currencies, swaptions and options on futures contracts; (iii) forward contracts, including currency forwards; and (iv) swaps, including equity, currency, interest rate, total return, and credit default swaps. As a result, the sum of the Fund’s investment exposures may at times exceed the amount of assets invested in the Fund, although these exposures may vary over time. The use of leverage magnifies gains and losses. As a result of the Fund’s use of derivatives, the Fund may also hold significant amounts of U.S. Treasuries or short-term investments, including money market funds and short duration bond funds, cash and time deposits, and enter into repurchase agreements.The Fund expects to engage in put and call option transactions to gain exposure to the global equity markets. A put option gives the purchaser the right to sell the option’s reference security to the Fund at an agreed-upon exercise price prior to the option’s expiration, and a call option gives the purchaser the right to buy the option’s reference security from the Fund at an agreed-upon exercise price prior to the option’s expiration. This options-based strategy seeks to generate returns in moderately rising or moderately declining global equity markets where the Investment Adviser believes realized volatility will be lower than the volatility implied by the option prices. In such markets, the Fund would generally realize gains to the extent the income from collected premiums exceeds the aggregate appreciation or depreciation of the reference security relative to the exercise price. Conversely, in sharply rising or sharply declining global equity markets, the Fund may experience losses to the extent that the aggregate appreciation or depreciation of the reference security relative to the exercise price exceeds the income from collected premiums. Furthermore, the strategy may detract from the Fund’s relative performance in sharply rising global equity markets because it limits the Fund’s opportunity to profit from an increase in the equity prices beyond the exercise price, and may not fully protect the Fund in sharply declining global equity markets because the Fund will continue to bear the risk of a decline in the value of its portfolio securities.In selecting individual securities, the Fund may use a rules-based methodology, in combination with a qualitative overlay, that emphasizes fundamentally-based and market-based stock selection, portfolio construction and efficient implementation. The Fund may seek to gain exposure to Underlying Asset Classes using a factor-based diversification approach, rather than obtaining such exposure through market capitalization weighted indices. Factor-based diversification seeks to capture common sources of active equity returns, including, but not limited to, the following factors: Momentum, Valuation, Volatility and Quality. The Momentum factor seeks to identify companies whose stock prices are expected to increase or decrease (by, among other things, evaluating each company’s recent performance results). The Valuation factor seeks to identify companies whose stock prices are trading at a discount to their fundamental or intrinsic value (by, among other things, comparing each company’s book value to market value). The Volatility factor seeks to identify companies whose stock prices are expected to have a relatively lower degree of fluctuation over time. The Quality factor seeks to identify companies that are expected to generate higher returns on assets (i.e., more profitable). The Investment Adviser seeks to capitalize on the low correlations in returns across these factors by diversifying exposure to securities selected based on such factors. The Fund may make investment decisions that deviate from those generated by the Investment Adviser’s proprietary models, at the discretion of the Investment Adviser. In addition, the Investment Adviser may, in its discretion, make changes to its quantitative techniques, or use other quantitative techniques that are based on its proprietary research.The Fund’s benchmark index is the MSCI All Country World Index Investable Market Index (“MSCI ACWI IMI”) (Net, USD, 50% Non-US Developed Hedged to USD).
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GGMBX - Performance

Return Ranking - Trailing

Period GGMBX Return Category Return Low Category Return High Rank in Category (%)
YTD 21.1% N/A N/A N/A
1 Yr 26.5% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period GGMBX Return Category Return Low Category Return High Rank in Category (%)
2023 18.6% N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period GGMBX Return Category Return Low Category Return High Rank in Category (%)
YTD 21.1% N/A N/A N/A
1 Yr 26.5% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period GGMBX Return Category Return Low Category Return High Rank in Category (%)
2023 20.7% N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

NAV & Total Return History


GGMBX - Holdings

Concentration Analysis

GGMBX Category Low Category High GGMBX % Rank
Net Assets 3.99 B N/A N/A N/A
Number of Holdings 1454 N/A N/A N/A
Net Assets in Top 10 3.6 B N/A N/A N/A
Weighting of Top 10 84.94% N/A N/A N/A

Top 10 Holdings

  1. Goldman Sachs MarketBeta US Equity ETF 21.92%
  2. Goldman Sachs MarketBeta International Equity ETF 13.36%
  3. Goldman Sachs MarketBeta Russell 1000 Value Equity ETF 11.66%
  4. iShares Core MSCI Emerging Markets ETF 10.37%
  5. Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF 6.30%
  6. iShares Core MSCI EAFE ETF 6.06%
  7. Goldman Sachs Financial Square Government Fund 5.08%
  8. SPDR Portfolio SP 500 Growth ETF 4.88%
  9. iShares MSCI EAFE Small-Cap ETF 4.17%
  10. Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.13%

Asset Allocation

Weighting Return Low Return High GGMBX % Rank
Stocks
95.32% N/A N/A N/A
Cash
2.83% N/A N/A N/A
Other
1.84% N/A N/A N/A
Preferred Stocks
0.01% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Bonds
0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High GGMBX % Rank
Utilities
0.00% N/A N/A N/A
Technology
0.00% N/A N/A N/A
Real Estate
0.00% N/A N/A N/A
Industrials
0.00% N/A N/A N/A
Healthcare
0.00% N/A N/A N/A
Financial Services
0.00% N/A N/A N/A
Energy
0.00% N/A N/A N/A
Communication Services
0.00% N/A N/A N/A
Consumer Defense
0.00% N/A N/A N/A
Consumer Cyclical
0.00% N/A N/A N/A
Basic Materials
0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High GGMBX % Rank
US
92.22% N/A N/A N/A
Non US
3.11% N/A N/A N/A

GGMBX - Expenses

Operational Fees

GGMBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.48% N/A N/A N/A
Management Fee 0.30% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

GGMBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

GGMBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

GGMBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 29.00% N/A N/A N/A

GGMBX - Distributions

Dividend Yield Analysis

GGMBX Category Low Category High GGMBX % Rank
Dividend Yield 1.44% N/A N/A N/A

Dividend Distribution Analysis

GGMBX Category Low Category High Category Mod
Dividend Distribution Frequency None

Net Income Ratio Analysis

GGMBX Category Low Category High GGMBX % Rank
Net Income Ratio 1.40% N/A N/A N/A

Capital Gain Distribution Analysis

GGMBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually

Distributions History

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GGMBX - Fund Manager Analysis

Managers

Neill Nuttall


Start Date

Tenure

Tenure Rank

Apr 30, 2015

7.09

7.1%

Neill Nuttall is a managing director and the chief investment officer of the Multi-Asset Solutions Group (MAS) in Goldman Sachs Asset Management (GSAM). He also serves as chairman of the MAS Investment Committee. Neill joined Goldman Sachs as a managing director in GSAM in 2014. Prior to joining the firm, Neill worked for almost 30 years at JPMorgan Asset Management (JPMAM) and its heritage firms, based for 14 years in Hong Kong and subsequently in London. From 2006, Neill served as chief investment officer and head of JPMAM’s Global Multi Asset Group (GMAG) and latterly as head of Asset Allocation for GMAG. Prior to joining GMAG, Neill served as a managing director and senior strategist within JPMAM’s Currency Group. Previous roles included senior investing positions at Jardine Fleming Investment Management in the International Multi-Asset Portfolios Group. Prior to joining JPMAM, Neill worked for Standard Chartered Bank in Hong Kong and Thailand. Neill earned a BA (Hons) in politics from the University of Exeter.

Siwen Wu


Start Date

Tenure

Tenure Rank

May 08, 2019

3.07

3.1%

Mr. Wu is a Vice President focusing on multi-asset funds and institutional portfolios within the Global Portfolio Solutions (GPS) Group in GSAM. Prior to joining GPS in 2014, Mr. Wu spent two years in the Market Risk Management Group at Goldman Sachs where he worked on risk analysis and capital efficiency projects for the Securities Division businesses.

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A