Goldman Sachs Alternative Premia Fund
Data updated: 2022-03-14
C000161525 — Goldman Sachs Alternative Premia Fund. Commodity · $38.77M AUM · 1.00% expense ratio. Holdings, fees, performance and SEC filings.
C000161525 Fund Overview
Goldman Sachs Alternative Premia 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: $38.77M
- 1-year return: -2.6%
- SEC CIK: 0000822977
- SEC series ID: S000027020
- Share class ID: C000161525
C000161525 Investment Objective and Strategy
Goldman Sachs Alternative Premia 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 Alternative Premia Fund (formerly Goldman Sachs Dynamic Allocation Fund) (the “Fund”) seeks long-term absolute return.
Principal investment strategy
The Fund seeks to provide exposure to a diversified range of alternative investment strategies (Alternative Risk Premia) using both long and short positions within a variety of asset classes. The Fund seeks to maintain a consistent level of volatility over the long term. Alternative Risk Premia are multi-asset, quantitatively-driven investment strategies that seek to capture diversified sources of returns. Alternative Risk Premia may be classified into certain styles, including carry, value, momentum, and structural. Carry styles seek to capitalize on the tendency for higher yielding assets to outperform lower yielding assets. Value styles seek to take advantage of the tendency for assets with low or high market prices to revert to their fundamental valuation. Momentum styles seek to exploit the tendency for recent relative price movements to continue in the near future.
Structural styles seek to profit from anomalies or mispricing present in the market. The Investment Adviser will allocate to Alternative Risk Premia across a range of asset classes, which may include equities, fixed income, credit, currencies, and commodities. Exposure to these asset classes may be implemented directly or indirectly by investing in (i) global equity and fixed income securities; (ii) unaffiliated investment companies, including exchange-traded funds (ETFs); (iii) affiliated investment companies, including ETFs, that currently exist or that may become available for investment in the future for which Goldman Sachs Asset Management, L.P. or an affiliate now or in the future acts as investment adviser or principal underwriter; (iv) derivative instruments, including foreign exchange forward contracts, options, futures contracts and options and swaps on futures contracts, credit, currency, index, interest rate, and total return swaps; and (iv) structured securities.
Given the dynamic nature of the Investment Advisers process and the underlying exposures within the Fund, the Funds overall exposure to derivative instruments will vary over time. Investment in the Subsidiary. The Fund may gain exposure to the commodities markets by investing in a wholly-owned subsidiary of the Fund organized as a company under the laws of the Cayman Islands, Cayman Commodity AP, Ltd. (the AP Subsidiary). The AP Subsidiary is advised by the Investment Adviser and seeks to gain commodities exposure. The Fund may invest up to 25% of its total assets in the AP Subsidiary. The AP Subsidiary primarily obtains its commodity exposure by investing in commodity-linked derivative instruments, which may include but are not limited to total return swaps, commodity (U.S. or foreign) futures and commodity-linked notes.
Commodity-linked swaps are derivative instruments whereby the cash flows agreed upon between counterparties are dependent upon the price of the underlying commodity or commodity index over the life of the swap. Commodity futures contracts are standardized, exchange-traded contracts that provide for the sale or purchase of, or economic exposure to the price of, a commodity or a specified basket of commodities at a future time. The value of these commodity-linked derivatives will rise and fall in response to changes in the underlying commodity or commodity index. Commodity-linked derivatives expose the AP Subsidiary and the Fund economically to movements in commodity prices. Such instruments may be leveraged so that small changes in the underlying commodity prices would result in disproportionate changes in the value of the instrument.
Neither the Fund nor the AP Subsidiary invests directly in physical commodities. The AP Subsidiary may also invest in other instruments, including fixed income securities, either as investments or to serve as margin or collateral for its swap positions, and foreign currency transactions (including forward contracts). The Fund may invest in, or have exposure to, assets or asset classes other than those generated by the Investment Advisers proprietary investment model, at the discretion of the Investment Adviser. In addition, the Investment Adviser may, in its discretion, make changes to the quantitative methodology used by the Fund, and the Fund may use other proprietary methodologies based on the Investment Advisers proprietary research. The Funds primary benchmark index is the ICE Bank of America Merrill Lynch USD LIBOR Three-Month Constant Maturity Index.
C000161525 Performance
Total returns for C000161525 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -2.6% |
| 3 years (annualised) | -4.5% |
C000161525 Risk Information
Risk metrics for C000161525, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.9%
C000161525 Costs and Fees
C000161525 costs about $100 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.00%
- Gross expense ratio: 2.27%
- Portfolio turnover: 0%
- Brokerage commissions: 6.81 bps of average net assets (SEC N-CEN)
C000161525 Cashflows
Over the 12 months to 2021-12, Goldman Sachs Alternative Premia Fund had net inflows of $5.34M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-12 | $6.78M |
| 2021-11 | −$191.92K |
| 2021-10 | −$286.50K |
| 2021-09 | −$401.63K |
| 2021-08 | −$126.63K |
| 2021-07 | −$150.68K |
C000161525 Debt Constituents
No individual debt constituents are reported in Goldman Sachs Alternative Premia Fund's latest SEC N-PORT filing.
C000161525 Prospectus and SEC Filings
Official Goldman Sachs Alternative Premia Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-04-30
- Prospectus (485BPOS) — filed 2019-05-21
- Prospectus supplement (497) — filed 2020-05-22
- Portfolio holdings (N-PORT) — filed 2022-02-24
- Portfolio holdings (N-PORT) — filed 2021-11-23
- Portfolio holdings (N-PORT) — filed 2021-08-26
- Annual census (N-CEN) — filed 2022-03-14
- Annual census (N-CEN) — filed 2021-03-15
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.