GMNPX Fees and Costs — Goldman Sachs MLP Energy Infrastructure Fund, Class P
Data updated: 2026-07-22
The net expense ratio is 1.05%: a 0.96% management fee plus 0.09% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3.4M in broker commissions, 0.2061% of average net assets, and portfolio turnover was 130%.
GMNPX Fees and Expenses
Annual operating expenses and sales charges of GMNPX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.96% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 1.05% |
| Fee waiver | — |
| Net expense ratio | 1.05% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
GMNPX Costs Over Time
On $10,000 invested in GMNPX, assuming 5% a year before costs, total costs come to $782 over 5 years, cutting the return by 1.32% 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 |
| Fund expenses (net expense ratio 1.05%) | $110 | $343 | $593 |
| Trading costs (broker commissions) | $22 | $67 | $116 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $132 | $431 | $782 |
| Value after costs | $10,368 | $11,145 | $11,981 |
| Impact on return, per year | 1.32% | 1.32% | 1.32% |
GMNPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2061%
- Total broker commissions: $3.4M
- Bought from dealers (principal trades, not a cost): $33.4M
- Portfolio turnover (prospectus): 130%
- Securities lending: none during the year
GMNPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $724K | 25.04% |
| J.P. MORGAN SECURITIES LLC | $518K | 17.91% |
| Raymond James & Associates, Inc. | $364K | 12.58% |
| MORGAN STANLEY & CO. LLC | $345K | 11.93% |
| BARCLAYS CAPITAL, INC. | $213K | 7.37% |
| EVERCORE GROUP L.L.C. | $202K | 7.00% |
| PIPER SANDLER & CO. | $187K | 6.45% |
| WELLS FARGO SECURITIES, LLC | $140K | 4.86% |
| JEFFERIES LLC | $114K | 3.94% |
| BOFA SECURITIES, INC. | $84K | 2.92% |
GMNPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $15.8M | 47.35% |
| PIPER SANDLER & CO. | $8.9M | 26.75% |
| Royal Bank of Canada | $7.1M | 21.38% |
| J.P. Morgan Securities LLC | $1.5M | 4.52% |
Goldman Sachs MLP Energy Infrastructure Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GLPSX | Class R6 | 1.05% | none |
| GMNPX | Class P | 1.05% | — |
| GMLPX | Institutional Shares | 1.06% | none |
| GLPIX | Investor Shares | 1.17% | none |
| GLPAX | Class A | 1.42% | 5.50% |
| GLPRX | Class R | 1.67% | none |
| GLPCX | Class C | 2.17% | 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.