Multi-Manager U.S. Dynamic Equity Fund

Data updated: 2021-01-14

C000157437 — Multi-Manager U.S. Dynamic Equity Fund. Money Market · $131.07M AUM · 0.79% expense ratio. Holdings, fees, performance and SEC filings.

C000157437 Fund Overview

Multi-Manager U.S. Dynamic Equity Fund is a US mutual fund managed by Goldman Sachs Trust II, categorised as Money Market. 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 II
Category: Money Market
Assets under management: $131.07M
1-year return: -1.1%
SEC CIK: 0001557156
SEC series ID: S000049851
Share class ID: C000157437

C000157437 Investment Objective and Strategy

Multi-Manager U.S. Dynamic Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Goldman Sachs Trust II.

Investment objective

The Multi-Manager U.S. Dynamic Equity Fund (the “Fund”) seeks to provide long-term capital growth.

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 a portfolio of equity investments in U.S. issuers. A U.S. issuer is an issuer that is economically tied to the United States. The Funds equity investments may include common stock, preferred stock, securities convertible into common stock, warrants, rights and American and international depositary receipts. Exchange-traded funds (ETFs) that provide exposure to such investments are treated as such investments for purposes of this policy. In addition, such investments may include futures, options, swaps and other instruments with similar economic exposures to equity investments in U.S. issuers. The Fund uses a multi-manager approach and generally seeks to achieve its investment objective by dynamically allocating its assets among multiple investment managers (Underlying Managers) who are unaffiliated with the Investment Adviser and who employ dynamic equity investment strategies (Dynamic Equity Strategies).

Dynamic Equity Strategies generally involve investing in equity instruments, often with a long term view. Dynamic Equity Strategies are long-biased strategies and may have low excess return correlations to traditional long-only equity strategies. Dynamic Equity Strategies are less likely to track a benchmark than traditional long-only strategies. Dynamic Equity managers are less constrained than traditional long-only managers with respect to factors such as position concentration, sector and country weights, style, and market capitalization. Dynamic Equity managers may hedge long positions and may also purchase, in addition to equity investments, bonds, options, preferred securities, and convertible securities, among others. The Fund is not subject to any limits on the market capitalization of securities in which it may invest and, from time to time, may invest in shares of companies through initial public offerings (IPOs).

The Fund may also invest in fixed income securities and foreign equity securities (including emerging markets equity securities) and may engage in certain other investment techniques consistent with its overall investment objective. The Fund may invest without limitation in securities or obtain exposure to securities that are denominated in currencies other than the U.S. dollar. The Fund may use currency management techniques, such as the use of forward foreign currency contracts, for investment or hedging purposes. 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 (although an Underlying Manager may not be required to hedge any of the Funds positions or to use derivatives). The Funds derivative investments may include: (i) futures contracts, including futures based on securities and/or indices, interest rate futures, currency futures and swap futures; (ii) swaps, including currency, interest rate, total return, variance, credit default and security and/or index swaps, and swaps on futures contracts; (iii) options, including long and short positions in call options and put options on indices, individual securities or currencies, swaptions and options on futures contracts; and (iv) forward contracts, including forwards based on securities and/or indices, currency forwards, interest rate forwards, swap forwards and non-deliverable forwards.

As a result of the Funds use of derivatives, the Fund may also hold significant amounts of U.S. Treasuries or short-term investments, including money market funds, repurchase agreements, cash and time deposits. The Investment Adviser may select an Underlying Manager to pursue a sub-strategy with an objective of providing investment results that seek to correspond, before fees and expenses, to the performance of a specified index (an index-tracking strategy). From time to time, the Investment Adviser may also, for short or longer-term periods, select a transition manager to transition a portion of Fund assets from one Underlying Manager to another, or, at the direction of the Investment Adviser, to implement an index-tracking strategy. In addition, the Investment Adviser or an Underlying Manager, on behalf of the Fund, may obtain passive exposure to a particular sub-asset class from time to time by making an index-based investment (e.g., in an ETF).

Management Process The Investment Adviser and the Fund have received an exemptive order from the Securities and Exchange Commission (SEC). Under the exemptive order, the Investment Adviser has the ultimate responsibility, subject to oversight by the Funds Board of Trustees, to oversee the Underlying Managers and recommend their hiring, termination and replacement. The initial shareholder of the Fund approved the Funds operation in this manner and reliance by the Fund on this exemptive order. The Investment Adviser determines the percentage of the Funds portfolio allocated to each Underlying Manager in order to seek to achieve the Funds investment objective. The Investment Advisers Alternative Investments & Manager Selection Group (AIMS or the AIMS Group) is responsible for making recommendations with respect to hiring, terminating, or replacing the Funds Underlying Managers, as well as the Funds asset allocations.

With respect to the Fund, the AIMS Group applies a multifaceted process with respect to manager due diligence, portfolio construction, and risk management. Each Underlying Manager acts independently from the others and has discretion to invest its portion of the Funds assets. Each Underlying Manager utilizes its own distinct investment style and investment process in buying and selling securities. Additional Information The Funds benchmark index is the S&P 500 Total Return Index. THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (INVESTMENT COMPANY ACT) AND MAY INVEST MORE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.

C000157437 Performance

Total returns for C000157437 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	-1.1%

C000157437 Risk Information

Risk metrics for C000157437, derived from monthly returns in SEC filings.

1-year volatility (annualised): 26.0%

C000157437 Costs and Fees

C000157437 costs about $79 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.79%
Gross expense ratio: 1.20%
Portfolio turnover: 91%
Brokerage commissions: 14.03 bps of average net assets (SEC N-CEN)

C000157437 Cashflows

Over the 12 months to 2020-10, Multi-Manager U.S. Dynamic Equity Fund had net outflows of $31.22M, from monthly SEC N-PORT filings.

Month	Net flow
2020-10	−$2.87M
2020-09	−$9.67M
2020-08	−$3.57M
2020-07	−$7.24M
2020-06	−$10.12M
2020-05	−$6.08M

C000157437 Debt Constituents

No individual debt constituents are reported in Multi-Manager U.S. Dynamic Equity Fund's latest SEC N-PORT filing.

C000157437 Prospectus and SEC Filings

Official Multi-Manager U.S. Dynamic Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market 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.