Goldman Sachs High Yield Fund Institutional Shares 

Under normal operating conditions, this fund's core strategy involves allocating at least 80% of its net assets, including any borrowed capital, to high-yield, fixed-income securities. A key characteristic of these investments is that they must be rated below investment grade at the time of purchase. Furthermore, the fund has the discretion to direct up to 25% of its total assets towards a combination of debt obligations issued by both domestic and international entities that are denominated in currencies other than the U.S. dollar, as well as securities from issuers located in developing nations, irrespective of the currency they are denominated in.