GRMMX Fees and Costs — Goldman Sachs Multi-Strategy Alternatives Fund, Class R
Data updated: 2026-09-22
The net expense ratio is 1.40% (2.21% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $24K in broker commissions, 0.0415% of average net assets, and portfolio turnover was 46%.
GRMMX Fees and Expenses
Annual operating expenses and sales charges of GRMMX. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.85% |
| Gross expense ratio | 2.21% |
| Fee waiver | −0.81% |
| Net expense ratio | 1.40% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
GRMMX Costs Over Time
On $10,000 invested in GRMMX, assuming 5% a year before costs, total costs come to $894 over 5 years, cutting the return by 1.51% 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 1.40%) | $147 | $457 | $788 |
| Trading costs (broker commissions) | $4 | $14 | $23 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $493 | $894 |
| Value after costs | $10,349 | $11,083 | $11,869 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
GRMMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0415%
- Total broker commissions: $24K
- Bought from dealers (principal trades, not a cost): $157.2M
- Portfolio turnover (prospectus): 46%
- Securities lending: none during the year
GRMMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $9K | 38.05% |
| BofA Securities, Inc. | $7K | 28.83% |
| Morgan Stanley & Co. LLC | $6K | 23.33% |
| Citadel Securities LLC | $855 | 3.55% |
| UBS AG | $588 | 2.44% |
| Jane Street Execution Services, LLC | $410 | 1.70% |
| Virtu Americas LLC | $253 | 1.05% |
| J.P. Morgan Securities LLC | $162 | 0.67% |
| Morgan Stanley & Co. International PLC | $66 | 0.27% |
| Wells Fargo Securities, LLC | $23 | 0.09% |
GRMMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bank of America, National Association | $38.6M | 24.53% |
| JPMorgan Chase Bank, National Association | $34.5M | 21.93% |
| UBS AG | $25.6M | 16.28% |
| Morgan Stanley & Co. International PLC | $24.6M | 15.62% |
| BNP Paribas | $13.2M | 8.38% |
| Citibank, National Association | $10.5M | 6.67% |
| Barclays Bank PLC | $5.7M | 3.61% |
| Deutsche Bank Securities Inc. | $2.9M | 1.83% |
| Royal Bank of Canada | $1.8M | 1.15% |
Goldman Sachs Multi-Strategy Alternatives Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GMMFX | Class R6 | 0.88% | none |
| GMMPX | Class P | 0.88% | — |
| GSMMX | Institutional Shares | 0.89% | none |
| GIMMX | Investor Shares | 0.94% | none |
| GMAMX | Class A | 1.19% | 5.50% |
| GRMMX | Class R | 1.40% | none |
| GMCMX | Class C | 1.94% | 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.