GIPAX Fees and Costs — Goldman Sachs Balanced Strategy Portfolio, Class A
Data updated: 2026-08-26
The net expense ratio is 1.02% (1.11% before fee waivers). This share class carries a maximum front-end sales load of 5.50%. In fiscal 2025 the fund paid $14K in broker commissions, 0.0025% of average net assets, and portfolio turnover was 24%.
GIPAX Fees and Expenses
Annual operating expenses and sales charges of GIPAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.11% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.02% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
GIPAX Costs Over Time
On $10,000 invested in GIPAX, assuming 5% a year before costs, total costs come to $1,306 over 5 years, cutting the return by 2.24% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.02%) | $101 | $316 | $547 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $27 | $102 | $207 |
| Total costs | $679 | $969 | $1,306 |
| Value after costs | $9,821 | $10,607 | $11,457 |
| Impact on return, per year | 6.79% | 3.01% | 2.24% |
GIPAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0025%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $46.2M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
GIPAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $4K | 27.62% |
| Morgan Stanley & Co. LLC | $3K | 23.64% |
| Wells Fargo Securities, LLC | $2K | 17.57% |
| Barclays Capital Inc. | $2K | 14.31% |
| UBS AG | $828 | 5.86% |
| BofA Securities, Inc. | $588 | 4.16% |
| Citadel Securities LLC | $485 | 3.43% |
| Susquehanna Financial Group, LLLP | $248 | 1.76% |
| Virtu Americas LLC | $131 | 0.92% |
| J.P. Morgan Securities LLC | $102 | 0.72% |
GIPAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMorgan Chase Bank, National Association | $10.9M | 23.66% |
| BNP Paribas | $7.1M | 15.30% |
| Nomura International PLC | $6.2M | 13.44% |
| Mizuho International PLC | $5.6M | 12.18% |
| Morgan Stanley & Co. International PLC | $5.4M | 11.68% |
| Barclays Bank PLC | $2.9M | 6.32% |
| Bank of America, National Association | $2.4M | 5.26% |
| Royal Bank of Canada | $2.4M | 5.08% |
| Morgan Stanley Capital Services LLC | $2.1M | 4.49% |
| Citibank, National Association | $1.2M | 2.59% |
Goldman Sachs Balanced Strategy Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GAOPX | Class P | 0.65% | — |
| GIPUX | Class R6 | 0.65% | none |
| GIPIX | Institutional Shares | 0.66% | none |
| GIPTX | Investor Shares | 0.77% | none |
| GIPAX | Class A | 1.02% | 5.50% |
| GIPSX | Service Shares | 1.16% | none |
| GIPRX | Class R | 1.27% | none |
| GIPCX | Class C | 1.77% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.