Goldman Sachs High Quality Floating Rate Fund
Data updated: 2022-02-24
C000025385 — Goldman Sachs High Quality Floating Rate Fund. Commodity · $214.41M AUM · 0.86% expense ratio. Holdings, fees, performance and SEC filings.
C000025385 Fund Overview
Goldman Sachs High Quality Floating Rate Fund is a US mutual fund managed by Goldman Sachs Trust, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Goldman Sachs Trust
- Category: Commodity
- Assets under management: $214.41M
- 1-year return: -0.1%
- SEC CIK: 0000822977
- SEC series ID: S000009302
- Share class ID: C000025385
C000025385 Investment Objective and Strategy
Goldman Sachs High Quality Floating Rate Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Goldman Sachs Trust.
Investment objective
The Goldman Sachs High Quality Floating Rate Fund (the “Fund”) seeks to provide a high level of current income, consistent with low volatility of principal.
Principal investment strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (Net Assets) in high quality floating rate or variable rate obligations. Floating rate and variable rate obligations are debt instruments issued by companies or other entities with interest rates that reset periodically (typically, daily, monthly, quarterly, or semi-annually) in response to changes in the market rate of interest on which the interest rate is based. The Fund considers high quality obligations to be (i) those rated AAA or Aaa by a nationally recognized statistical rating organization (NRSRO) at the time of purchase (or the equivalent short term rating for short term obligations such as commercial paper), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, including repurchase agreements with counterparties rated AAA or Aaa by an NRSRO at the time of purchase, or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and (ii) securities issued or guaranteed by the U.S.
Government, its agencies, instrumentalities or sponsored enterprises (U.S. Government Securities), including securities representing an interest in or collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (Mortgage-Backed Securities), and in repurchase agreements collateralized by U.S. Government Securities, with counterparties approved by the Investment Adviser pursuant to procedures approved by the Board of Trustees. The remainder of the Funds Net Assets (up to 20%) may be invested in fixed rate obligations (subject to the credit quality requirements specified above) and investment grade floating rate or variable rate obligations. The Fund also intends to invest in derivatives, including (but not limited to) futures, swaps, options on swaps and other derivative instruments, which are used primarily to manage the Funds duration.
The Fund may invest in obligations of foreign issuers (including sovereign and agency obligations), although 100% of the Funds portfolio will be invested in U.S. dollar denominated securities. The Funds investments in floating and variable rate obligations may include, without limitation: agency floating rate bonds and agency Mortgage-Backed Securities, including adjustable rate mortgages and collateralized mortgage obligation floaters; asset-backed floating rate bonds including, but not limited to, those backed by Federal Family Education Loan Program (FFELP) student loans and credit card receivables; other floating rate Mortgage-Backed Securities; collateralized loan obligations; corporate obligations; and overnight repurchase agreements. The Funds target duration range under normal interest rate conditions is expected to approximate that of the ICE BofAML Three-Month U.S.
Treasury Bill Index, plus or minus 3 months, and over the last five years ended June 30, 2018, the duration of the Index has ranged between 0.22 and 0.26 years. Duration is a measure of a debt securitys price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that securitys market price. The Funds benchmark index is the ICE BofAML Three-Month U.S. Treasury Bill Index. GSAMs Fixed Income Investing Philosophy: Global fixed income markets are constantly evolving and are highly diversewith a large number of countries, currencies, sectors, issuers and securities.
We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to: Thoughtfully combine diversified sources of return by employing multiple strategies Take a global perspective to uncover relative value opportunities Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool Build a strong team of skilled investors who excel on behalf of our clients
C000025385 Performance
Total returns for C000025385 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -0.1% |
| 3 years (annualised) | 0.5% |
C000025385 Risk Information
Risk metrics for C000025385, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.2%
C000025385 Costs and Fees
C000025385 costs about $86 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.86%
- Gross expense ratio: 1.05%
- Portfolio turnover: 24%
- Brokerage commissions: 0.11 bps of average net assets (SEC N-CEN)
C000025385 Cashflows
Over the 12 months to 2021-12, Goldman Sachs High Quality Floating Rate Fund had net inflows of $1.86M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-12 | −$9.53M |
| 2021-11 | −$58.82M |
| 2021-10 | $3.36M |
| 2021-09 | −$2.12M |
| 2021-08 | $11.83M |
| 2021-07 | $7.02M |
C000025385 Debt Constituents
No individual debt constituents are reported in Goldman Sachs High Quality Floating Rate Fund's latest SEC N-PORT filing.
C000025385 Prospectus and SEC Filings
Official Goldman Sachs High Quality Floating Rate Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus supplement (497) — filed 2022-01-07
- Prospectus supplement (497) — filed 2021-08-03
- Prospectus supplement (497) — filed 2020-08-24
- Portfolio holdings (N-PORT) — filed 2022-02-24
- Portfolio holdings (N-PORT) — filed 2021-11-24
- Portfolio holdings (N-PORT) — filed 2021-08-23
- Annual census (N-CEN) — filed 2021-06-14
- Annual census (N-CEN) — filed 2020-06-11
Related Funds
Other Commodity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.