0001193125-12-427238.txt : 20121018 0001193125-12-427238.hdr.sgml : 20121018 20121018161937 ACCESSION NUMBER: 0001193125-12-427238 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 9 FILED AS OF DATE: 20121018 DATE AS OF CHANGE: 20121018 EFFECTIVENESS DATE: 20121018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOLDMAN SACHS TRUST CENTRAL INDEX KEY: 0000822977 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-17619 FILM NUMBER: 121150644 BUSINESS ADDRESS: STREET 1: 71 SOUTH WACKER DRIVE STREET 2: C/O GOLDMAN SACHS & CO CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126554400 MAIL ADDRESS: STREET 1: 200 WEST STREET CITY: NEW YORK STATE: NY ZIP: 10282 FORMER COMPANY: FORMER CONFORMED NAME: GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19910711 FORMER COMPANY: FORMER CONFORMED NAME: SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19900104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOLDMAN SACHS TRUST CENTRAL INDEX KEY: 0000822977 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-05349 FILM NUMBER: 121150645 BUSINESS ADDRESS: STREET 1: 71 SOUTH WACKER DRIVE STREET 2: C/O GOLDMAN SACHS & CO CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126554400 MAIL ADDRESS: STREET 1: 200 WEST STREET CITY: NEW YORK STATE: NY ZIP: 10282 FORMER COMPANY: FORMER CONFORMED NAME: GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19910711 FORMER COMPANY: FORMER CONFORMED NAME: SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19900104 0000822977 S000036943 Goldman Sachs Retirement Portfolio Completion Fund C000113030 Class A C000113031 Class C C000113032 Institutional C000113033 Class IR C000113034 Class R 485BPOS 1 d414938d485bpos.htm GOLDMAN SACHS TRUST Goldman Sachs Trust

As filed with the Securities and Exchange Commission on October 18, 2012

1933 Act Registration No. 033-17619

1940 Act Registration No. 811-05349

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

 

FORM N-1A

REGISTRATION STATEMENT

UNDER

  THE SECURITIES ACT OF 1933   þ
  Pre-Effective Amendment No.               ¨
  Post-Effective Amendment No. 334   þ

and/or

REGISTRATION STATEMENT

UNDER

  THE INVESTMENT COMPANY ACT OF 1940   þ
  Amendment No. 335   þ

(Check appropriate box or boxes)

 

 

GOLDMAN SACHS TRUST

(Exact Name of Registrant as Specified in Charter)

 

 

71 South Wacker Drive

Chicago, Illinois 60606

(Address of Principal Executive Offices)

Registrant’s Telephone Number, including Area Code: (312) 655-4400

CAROLINE KRAUS, ESQ.

Goldman, Sachs & Co.

200 West Street

New York, New York 10282

(Name and Address of Agent for Service)

 

 

Copies to:

STEPHEN H. BIER, ESQ.

Dechert LLP

1095 Avenue of the Americas

New York, NY 10036

 

 

Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of the registration statement

It is proposed that this filing will become effective (check appropriate box)

 

  þ immediately upon filing pursuant to paragraph (b)

 

  ¨ on (date) pursuant to paragraph (b)

 

  ¨ 60 days after filing pursuant to paragraph (a)(1)

 

  ¨ on (date) pursuant to paragraph (a)(1)

 

  ¨ 75 days after filing pursuant to paragraph (a)(2)

 

  ¨ on (date) pursuant to paragraph (a)(2) of rule 485.

If appropriate, check the following box:

 

  ¨ this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 


EXPLANATORY NOTE

This filing relates solely to the following series and classes of the Registrant:

Class A Shares, Class C Shares, Institutional Shares, Class IR Shares and Class R Shares of the Goldman Sachs Retirement Portfolio Completion Fund.


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Post-Effective Amendment No. 334 under Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment No. 334 to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City and State of New York on the 18th day of October, 2012.

 

GOLDMAN SACHS TRUST
(A Delaware statutory trust)

By:    

 

/s/ Caroline Kraus

Caroline Kraus

  Secretary

Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment to said Registration Statement has been signed below by the following persons in the capacities and on the date indicated.

 

Name

  

Title

  

Date

1James A. McNamara

James A. McNamara

   President (Chief Executive Officer) and Trustee    October 18, 2012

1George F. Travers

George F. Travers

   Principal Financial Officer and Senior Vice President    October 18, 2012

1Ashok N. Bakhru

Ashok N. Bakhru

   Chairman and Trustee    October 18, 2012

1Donald C. Burke

Donald C. Burke

   Trustee    October 18, 2012

1John P. Coblentz, Jr.

John P. Coblentz, Jr.

   Trustee    October 18, 2012

1Diana M. Daniels

Diana M. Daniels

   Trustee    October 18, 2012

1Joseph P. LoRusso

Joseph P. LoRusso

   Trustee    October 18, 2012

1Jessica Palmer

Jessica Palmer

   Trustee    October 18, 2012

1Alan A. Shuch

Alan A. Shuch

   Trustee    October 18, 2012

1Richard P. Strubel

Richard P. Strubel

   Trustee    October 18, 2012

 

  By:   

/s/ Caroline Kraus

   

Caroline Kraus,

Attorney-In-Fact

 

1 

Pursuant to powers of attorney previously filed.


CERTIFICATE

The undersigned Secretary for Goldman Sachs Trust (the “Trust”) hereby certifies that the Board of Trustees of the Trust duly adopted the following resolution at a meeting of the Board held on August 15-16, 2012.

RESOLVED, that the Trustees and Officers of the Trust who may be required to execute any amendments to the Trust’s Registration Statement be, and each hereby is, authorized to execute a power of attorney appointing James A. McNamara, Caroline Kraus, Andrew Murphy, Robert Griffith and Matthew Wolfe, jointly and severally, their attorneys-in-fact, each with power of substitution, for said Trustees and Officers in any and all capacities to sign the Registration Statement under the Securities Act of 1933 and the Investment Company Act of 1940 of the Trust and any and all amendments to such Registration Statement, and to file the same, with exhibits thereto, and other documents in connection therewith, with the SEC, the Trustees and Officers hereby ratifying and confirming all that each of said attorneys-in-fact, or his or her substitute or substitutes, may do or may have caused to be done by virtue hereof.

Dated: October 18, 2012

 

/s/ Caroline Kraus

Caroline Kraus,

Secretary


EXHIBIT INDEX

 

EX-101.INS    XBRL Instance Document
EX-101.SCH    XBRL Taxonomy Extension Schema Document
EX-101.CAL    XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF    XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB    XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE    XBRL Taxonomy Extension Presentation Linkbase
EX-101.INS 2 gst7-20120925.xml XBRL INSTANCE DOCUMENT 0000822977 gst7:S000036943Member 2011-09-29 2012-09-28 0000822977 gst7:S000036943Member gst7:C000113030Member 2011-09-29 2012-09-28 0000822977 gst7:S000036943Member gst7:C000113031Member 2011-09-29 2012-09-28 0000822977 gst7:S000036943Member gst7:C000113032Member 2011-09-29 2012-09-28 0000822977 gst7:S000036943Member gst7:C000113033Member 2011-09-29 2012-09-28 0000822977 gst7:S000036943Member gst7:C000113034Member 2011-09-29 2012-09-28 0000822977 2011-09-29 2012-09-28 pure iso4217:USD <font style="FONT-FAMILY: Times New Roman" size="2"> Assuming complete redemption at end of period</font> <div style="display:none">~ http://www.goldmansachsfunds.com/role/ScheduleShareholderFeesGoldmanSachsRetirementPortfolioCompletionFund column period compact * ~</div> <font style="FONT-FAMILY: Times New Roman" size="4"><b><a name="toc317213_1"></a>Goldman Sachs Retirement Portfolio Completion Fund&#8212;Summary </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide &#8212; Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 48 of this Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page 86 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8217;&#8217;).</font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Expense Example </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs when it buys and sells securities or instruments (<i>i.e.</i>, &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, including brokerage commissions, which must be borne by the Fund and its shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance.</font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder Fees</b></font><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>(fees paid directly from your investment):</b></font> 0.0375 0 0 0 0 <font style="FONT-FAMILY: Times New Roman" size="1"><i>The Fund&#8217;s &#8220;Other Expenses&#8221; have been estimated to reflect expenses expected to be incurred during the first fiscal year.</i></font> <div style="display:none">~ http://www.goldmansachsfunds.com/role/ScheduleAnnualFundOperatingExpensesGoldmanSachsRetirementPortfolioCompletionFund column period compact * ~</div> GOLDMAN SACHS TRUST 100000 <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual Fund Operating Expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="1"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></font> <font style="FONT-FAMILY: Times New Roman" size="1"><i>A contingent deferred sales charge (&#8220;CDSC&#8221;) of 1.00% is imposed on Class&nbsp;C Shares redeemed within 12&nbsp;months of purchase.</i></font> -0.0119 -0.0119 -0.0119 -0.0119 -0.0119 471 276 59 75 125 <font style="FONT-FAMILY: Times New Roman" size="2">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Class IR and/or Class R Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Class IR and/or Class R Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide &#8212; Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 48 of this Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page 86 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8217;&#8217;).</font> 485BPOS 0000822977 2012-09-24 2012-09-24 false <font style="FONT-FAMILY: Times New Roman" size="3"><b>Investment Objective </b></font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Fees and Expenses of the Fund </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">Assuming no redemption</font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Portfolio Turnover </b></font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Principal Strategy </b></font> 0 0.01 0 0 0 0.0217 0.0292 0.0177 0.0192 0.0242 <font style="FONT-FAMILY: Times New Roman" size="1"><i>The Fund&#8217;s &#8220;Acquired Fund Fees and Expenses&#8221; have been estimated to reflect expenses expected to be incurred during the current fiscal year.</i></font> <font style="FONT-FAMILY: Times New Roman" size="1"><i>September 30, 2013</i></font> 918 792 441 487 641 176 <font style="FONT-FAMILY: Times New Roman" size="2">Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective.<br/><br/><b><i>Absence of Regulation.</i></b> The Fund engages in over-the-counter (&#8220;OTC&#8221;) transactions. In general, there is less governmental regulation and supervision of transactions in the OTC markets than of transactions entered into on organized exchanges.<br/><br/><b><i>CFTC Regulation Risk.</i></b> The Fund has claimed an exemption, which is available to registered investment companies, from regulation as a &#8220;commodity pool operator&#8221; under Commodity Futures Trading Commission (&#8220;CFTC&#8221;) Rule 4.5. However, the CFTC has recently adopted amendments to CFTC Rule 4.5, which, when effective, may subject the Fund to regulation by the CFTC. When these amendments become effective, the Fund may consider significant changes, which could include substantially altering its principal investment strategies (<i>e.g.</i>, by reducing substantially the Fund&#8217;s exposure to the commodities markets) in order to continue to qualify for the exemption from regulation in CFTC Rule 4.5. Alternatively, the Fund may determine to operate subject to applicable CFTC requirements, including registration, disclosure and operational requirements governing commodity pools under the Commodity Exchange Act (&#8220;CEA&#8221;). Compliance with these additional requirements would increase Fund expenses. Certain of the rules that would apply to the Fund if it becomes subject to CFTC regulation as a commodity pool have not yet been adopted, and it is unclear what the effect of those rules would be on the Fund if they are adopted.<br/><br/>In addition, the CFTC has recently implemented final regulations that impose position limits and limit formulas on certain physical commodity futures and options contracts, including energy and metals contracts, and on physical commodity swaps that are economically equivalent to such contracts. The Investment Adviser&#8217;s decisions (and those of any adviser managing a PTP, ETF or investment company in which the Fund may invest) may need to be modified, and commodity contract positions held by the Fund (or any PTP, ETF or investment company in which the Fund may invest) may have to be liquidated at disadvantageous times or prices, to avoid exceeding these position limits, potentially subjecting the Fund to substantial losses. The regulation of commodity transactions in the United States is a rapidly changing area of law and is subject to ongoing modification by government, self-regulatory and judicial action. The effect of any future regulatory change on the Fund is impossible to predict, but could be substantial and adverse to the Fund.<br/><br/><b><i>Commodity Sector Risk.</i></b> Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The prices of energy, industrial metals, precious metals, agriculture and livestock sector commodities may fluctuate widely due to factors such as changes in value, supply and demand and governmental regulatory policies. Some of the commodity-linked investments in which the Fund may invest may be issued by companies in the financial services sector, and events affecting the financial services sector may cause the Fund&#8217;s share value to fluctuate.<br/><br/><b><i>Counterparty Risk.</i></b> Many of the protections afforded to participants on some organized exchanges, such as the performance guarantee of an exchange clearinghouse, might not be available in connection with OTC transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.<br/><br/><b><i>Credit/Default Risk.</i></b> An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest, repay principal or make a margin payment. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;). To the extent that the Fund invests in non-investment grade fixed income securities, these risks will be more pronounced.<br/><br/><b><i>Derivatives Risk.</i></b> Loss may result from the Fund&#8217;s investments in forwards, futures, swaps, structured securities and other derivative instruments. These instruments may be illiquid, difficult to price and leveraged so that small changes may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations.<br/><br/><b><i>Expenses Risk.</i></b> By investing in other investment companies (including ETFs and money market funds) and PTPs indirectly through the Fund, the investor will incur not only a proportionate share of the expenses of the other investment companies and PTPs held by the Fund (including operating costs and investment management fees), but also expenses of the Fund.<br/><br/><b><i>Foreign and Emerging Countries Risk.</i></b> Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. Loss may also result from the imposition of exchange controls, confiscations and other government restrictions, or from problems in registration, settlement or custody. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. To the extent that the Fund also invests in issuers located in emerging markets, these risks may be more pronounced.<br/><br/><b><i>Geographic Risk.</i></b> Concentration of the investments of the Fund in issuers located in a particular country or region will subject the Fund, to a greater extent than if investments were less concentrated, to the risks of adverse securities markets, exchange rates and social, political, regulatory or economic events which may occur in that country or region.<br/><br/><b><i>Index/Tracking Error Risk.</i></b> While the Investment Adviser will utilize certain indices as references for making investments for the Fund in the Underlying Asset Classes, the Fund will not attempt to fully replicate the investments, or match the performance, of each such index. Accordingly, the Fund&#8217;s allocations to any Underlying Asset Class, and thus the Fund&#8217;s overall portfolio composition and performance may not match, and may vary substantially from, that of any index that it may use to measure its investment performance (whether overall or with respect to any Underlying Asset Class) for any period of time. Unlike the Fund, the returns of an index are not reduced by investment and other operating expenses. At times, the Fund&#8217;s assets may not be fully invested in securities and instruments attempting to approximate the returns of an index. Due to regulatory or market constraints, the Fund may be unable to obtain sufficient exposure to a particular asset class (<i>e.g.</i>, commodities).<br/><br/><b><i>Inflation Protected Securities Risk.</i></b> The value of Inflation Protected Securities (&#8220;IPS&#8221;) generally fluctuates in response to inflationary concerns. As inflationary expectations increase, IPS will become more attractive, because they protect future interest payments and principal against inflation. Conversely, as inflationary concerns decrease, IPS will become less attractive and less valuable.<br/><br/><b><i>Interest Rate Risk.</i></b> When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities will normally have more price volatility because of this risk than short-term fixed income securities.<br/><br/><b><i>Liquidity Risk. </i></b> The Fund may make investments that may be illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities, at an unfavorable time and/or under unfavorable conditions.<br/><br/> <b><i>Market Risk.</i></b> The value of the instruments in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions.<br/><br/><b><i>Mid Cap and Small Cap Risk.</i></b> Investments in mid-capitalization and small-capitalization companies involve greater risks than those associated with larger, more established companies. These securities may be subject to more abrupt or erratic price movements and may lack sufficient market liquidity, and these issuers often face greater business risks.<br/><br/><b><i>Non-Diversification Risk.</i></b> The Fund is non-diversified and is permitted to invest more of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.<br/><br/><b><i>Non-Investment Grade Fixed Income Securities Risk.</i></b> Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly referred to as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific corporate or municipal developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less secondary market liquidity.<br/><br/><b><i>Publicly Traded Partnerships (&#8220;PTP&#8221;) Risk.</i></b> In addition to the risks associated with the underlying assets and exposures within a PTP (which in the case of the Fund&#8217;s expected PTP investments, include derivatives and the commodity sector risks), risks of investments in PTPs may include, among others: dependence upon specialized skills of the PTP&#8217;s manager, potential lack of liquidity and limitations on voting and distribution rights.<br/><br/><b><i>Real Estate Industry Risk.</i></b> Risks associated with investments in the real estate industry include, among others: possible declines in the value of real estate; risks related to general and local economic conditions; possible lack of availability of mortgage financing, variations in rental income, neighborhood values or the appeal of property to tenants; interest rates; overbuilding; extended vacancies of properties; increases in competition, property taxes and operating expenses; and changes in zoning laws. The real estate industry is particularly sensitive to economic downturns. The values of securities of companies in the real estate industry may go through cycles of relative under-performance and out-performance in comparison to equity securities markets in general.<br/><br/><b><i>REIT Risk.</i></b> REITs whose underlying properties are concentrated in a particular industry or geographic region are subject to risks affecting such industries and regions. The securities of REITs involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements because of interest rate changes, economic conditions and other factors. Securities of such issuers may lack sufficient market liquidity to enable the Fund to effect sales at an advantageous time or without a substantial drop in price.<br/><br/><b><i>Sovereign Risk.</i></b> An issuer of non-U.S. sovereign debt, such as Germany or Japan, or the governmental authorities that control the repayment of the debt, may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.<br/><br/><b><i>Stock Risk.</i></b> Stock prices have historically risen and fallen in periodic cycles. U.S. and foreign stock markets have experienced periods of substantial price volatility in the past and may do so again in the future.</font> <font style="FONT-FAMILY: Times New Roman" size="2">Loss of money is a risk of investing in the Fund.</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Non-Diversification Risk.</i></b> The Fund is non-diversified and is permitted to invest more of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.</font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund is designed to provide retirement investors of all ages (<i>i.e.</i>, both those who are approaching or planning for retirement and those who are currently retired) with access to certain asset classes that are typically underrepresented in retirement savings portfolios (the &#8220;Underlying Asset Classes&#8221;). The Fund&#8217;s Investment Adviser believes that the Underlying Asset Classes may provide return, risk, and correlation characteristics complementary to a portfolio of more traditional investments, such as large cap equities or investment grade fixed income. The Fund may also be used by non-retirement investors seeking exposure to the Underlying Asset Classes. The Fund currently intends to gain exposure to the Underlying Asset Classes set forth in the table below, principally through the use of the securities and derivatives indicated:</font><br/><br/><table border="0" width="97%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: 'Times New Roman', Times; color: rgb(0, 0, 0); "><tr valign="bottom" style="font-size: 1pt; "><td width="50%">&nbsp;</td><td width="1%">&nbsp;</td><td width="49%">&nbsp;</td></tr><tr valign="bottom" align="center" style="font-size: 7pt; "><td nowrap="nowrap" align="left" valign="bottom"><b><font style="font-family: Arial, Helvetica; ">Underlying Asset Class</font></b></td><td>&nbsp;</td><td nowrap="nowrap" align="left" valign="bottom"><b><font style="font-family: Arial, Helvetica; ">Principal Investments Used to Obtain Exposure</font></b></td></tr><tr valign="bottom"><td align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); "><div style="text-indent: -7pt; margin-left: 7pt; "><b>US Inflation Linked Government Bonds</b></div></td><td style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">Fixed income securities</td></tr><tr style="font-size: 1pt; "><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td></tr><tr valign="bottom"><td align="left" valign="top" style="font-family: Arial, Helvetica; "><div style="text-indent: -7pt; margin-left: 7pt; "><b>Global Real Estate Investment Trusts (global&nbsp;&#8220;REITs&#8221;)</b></div></td><td>&nbsp;</td><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; ">Equity securities</td></tr><tr style="font-size: 1pt; "><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td></tr><tr valign="bottom"><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; "><div style="text-indent: -7pt; margin-left: 7pt; "><b>Commodities</b></div></td><td>&nbsp;</td><td align="left" valign="top" style="font-family: Arial, Helvetica; ">Publicly traded partnerships (&#8220;PTPs&#8221;), Exchange Traded Funds (&#8220;ETFs&#8221;), investment companies</td></tr><tr style="font-size: 1pt; "><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td></tr><tr valign="bottom"><td align="left" valign="top" style="font-family: Arial, Helvetica; "><div style="text-indent: -7pt; margin-left: 7pt; "><b>Emerging Markets Equity</b></div></td><td>&nbsp;</td><td align="left" valign="top" style="font-family: Arial, Helvetica; ">ETFs, futures (including equity index futures, synthetic futures, or other over-the-counter futures), equity index swaps, currency forwards</td></tr><tr style="font-size: 1pt; "><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td></tr><tr valign="bottom"><td align="left" valign="top" style="font-family: Arial, Helvetica; "><div style="text-indent: -7pt; margin-left: 7pt; "><b>Emerging Markets Sovereign Credit</b></div></td><td>&nbsp;</td><td align="left" valign="top" style="font-family: Arial, Helvetica; ">Indexed credit default swaps</td></tr><tr style="font-size: 1pt; "><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td></tr><tr valign="bottom"><td align="left" valign="top" style="font-family: Arial, Helvetica; "><div style="text-indent: -7pt; margin-left: 7pt; "><b>North American High Yield Corporate Credit</b></div></td><td>&nbsp;</td><td align="left" valign="top" style="font-family: Arial, Helvetica; ">Indexed credit default swaps</td></tr><tr style="font-size: 1pt; "><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td nowrap="nowrap" align="left" valign="top" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td></tr><tr valign="bottom"><td align="left" valign="top" style="font-family: Arial, Helvetica; "><div style="text-indent: -7pt; margin-left: 7pt; "><b>Hedge Fund&nbsp;Industry Beta</b><font style="font-family: 'Times New Roman', Times; ">*</font></div></td><td>&nbsp;</td><td align="left" valign="top" style="font-family: Arial, Helvetica; ">Goldman Sachs Absolute Return Tracker Fund (&#8220;Absolute Return Tracker Fund&#8221;)</td></tr><tr style="font-size: 1pt; "><td nowrap="nowrap" align="left" valign="bottom" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td><td nowrap="nowrap" align="left" valign="bottom" style="font-family: Arial, Helvetica; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</td></tr></table><p><i><font style="FONT-SIZE: 8pt">*</font></i>&nbsp;&nbsp;&nbsp;<i><font style="FONT-SIZE: 8pt">&#8220;Hedge Fund Industry Beta&#8221; refers to the component of hedge fund returns that is attributable to market risk exposure, rather than manager skill.</font></i></p><font style="FONT-FAMILY: Times New Roman" size="2"><b>Allocations Among the Underlying Asset Classes</b><br/><br/>The Investment Adviser allocates the Fund&#8217;s assets among the Underlying Asset Classes according to a proprietary rules-based, quantitative methodology. Each Underlying Asset Class (other than Hedge Fund Industry Beta) is represented by an index broadly representative of that asset class (the &#8220;Underlying Indices&#8221;). The Fund&#8217;s Underlying Asset Class allocations are rebalanced semi-annually. The Investment Adviser seeks to target approximately equal risk contributions from each Underlying Asset Class to the overall risk profile of the Fund, while at the same time allocating a maximum of 20% and a minimum of 5% of the Fund&#8217;s assets to each Underlying Asset Class at the time of each rebalancing. However, the Fund&#8217;s actual allocations will drift between rebalance dates, due to market movements or other factors, and the Investment Adviser may, in its discretion, but is not required to, reduce the Fund&#8217;s exposure to any Underlying Asset Class at other times to the extent that the Underlying Asset Class greatly exceeds 20% of the Fund&#8217;s portfolio. The Investment Adviser may change its methodology, target allocations and Underlying Asset Classes from time to time at its discretion.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2"><b>Investments in the Underlying Asset Classes</b><br/><br/>Once the Investment Adviser has determined the allocations to each Underlying Asset Class, it employs a passive investment approach with respect to achieving exposure to those Underlying Asset Classes (other than Hedge Fund Industry Beta) within the Fund. Under that approach, Investment Adviser utilizes the Underlying Indices as a reference for making investments for the Fund in the Underlying Asset Classes (other than Hedge Fund Industry Beta). While the Fund will not attempt to fully replicate the investments of any Underlying Index, the Fund will attempt to approximate the investment characteristics and performance of each Underlying Index, and thus the investment characteristics and performance of each related Underlying Asset Class. The Fund will not attempt to exceed the performance of any Underlying Index.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Exposure to Hedge Fund Industry Beta.</i></b> The Investment Adviser intends to gain exposure to Hedge Fund Industry Beta (that is, the component of hedge fund returns that is attributable to market risk exposure, rather than manager skill) by investing in the Absolute Return Tracker Fund, an affiliated mutual fund also managed by the Investment Adviser.<br/><br/>The Absolute Return Tracker Fund seeks to deliver long-term total returns consistent with investment results that approximate the return and risk patterns of a diversified universe of hedge funds. The Absolute Return Tracker Fund selects its investments using a quantitative algorithm (or methodology) that seeks to identify the beta component of hedge fund returns. The Absolute Return Tracker Fund invests in securities and other financial instruments that provide long or short exposure to market factors that represent the sources of market risk (the &#8220;Component Market Factors&#8221;) that contribute to Hedge Fund Industry Beta, including but not limited to U.S. and non-U.S. equity indices, fixed income indices, credit indices, commodity indices, volatility indices and developed and emerging markets ETFs. The exposure of the Absolute Return Tracker Fund to any particular Component Market Factor varies from time to time as the weightings of the Component Market Factors within the algorithm change. Neither the Fund nor the Absolute Return Tracker Fund invests in hedge funds.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2"><b>Additional Information</b> <br/><br/>As a result of the Fund&#8217;s use of derivatives, the Fund may also hold significant amounts of U.S. Treasury securities or short-term investments, including money market funds and repurchase agreements. For cash management purposes, the Fund may also invest in cash equivalents and short-term government bonds. In addition, the Fund may from time to time hold foreign currencies. <br/><br/> The Fund is not subject to any maturity or duration limitations with respect to individual fixed income holdings or the Fund&#8217;s collective fixed income portfolio, and the Fund is not restricted in its ability to invest in high yield non-investment grade fixed income securities (<i>i.e.</i>, securities rated BB, Ba or below by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) or, if unrated, determined by the Investment Adviser to be of comparable quality).<br/><br/> THE FUND IS &#8220;NON-DIVERSIFIED&#8221; UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (&#8220;INVESTMENT COMPANY ACT&#8221;) AND MAY INVEST MORE OF ITS ASSETS IN FEWER ISSUERS THAN &#8220;DIVERSIFIED&#8221; MUTUAL FUNDS.</font> 2012-09-28 2012-09-28 <font style="FONT-FAMILY: Times New Roman" size="2">The Goldman Sachs Retirement Portfolio Completion Fund (the &#8220;Fund&#8221;) seeks long-term capital appreciation.</font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Principal Risks of the Fund </b></font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Performance </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">As the Fund had not yet commenced investment operations as of the date of this Prospectus, there is no performance information quoted for the Fund.</font> 0.0045 0.0045 0.0045 0.0045 0.0045 0.0025 0.01 0.005 0.0122 0.0122 0.0107 0.0122 0.0122 0.0025 0.0025 0.0025 0.0025 0.0025 0.0098 0.0173 0.0058 0.0073 0.0123 792 <font style="FONT-FAMILY: Times New Roman" size="2">An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency.</font> <div style="display:none">~ http://www.goldmansachsfunds.com/role/ScheduleExpenseExampleTransposedGoldmanSachsRetirementPortfolioCompletionFund column period compact * ~</div> <div style="display:none">~ http://www.goldmansachsfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposedGoldmanSachsRetirementPortfolioCompletionFund column period compact * ~</div> 0 0 <font style="FONT-FAMILY: Times New Roman" size="2">As the Fund had not yet commenced investment operations as of the date of this Prospectus, there is no performance information quoted for the Fund.</font> A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. The Fund's "Other Expenses" have been estimated to reflect expenses expected to be incurred during the first fiscal year. The Fund's "Acquired Fund Fees and Expenses" have been estimated to reflect expenses expected to be incurred during the current fiscal year. The Investment Adviser has agreed to (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, litigation, indemnification, shareholder meeting and other extraordinary expenses) to 0.064% of the Fund's average daily net assets, and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests. Each arrangement will remain in effect through at least September 30, 2013, and prior to such date, the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. The Fund's "Other Expenses" may be further reduced by any custody and transfer agency fee credits received by the Fund. 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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Sep. 28, 2012
Document Creation Date dei_DocumentCreationDate Sep. 24, 2012
XML 14 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Goldman Sachs Retirement Portfolio Completion Fund
Goldman Sachs Retirement Portfolio Completion Fund—Summary
Investment Objective
The Goldman Sachs Retirement Portfolio Completion Fund (the “Fund”) seeks long-term capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide — Common Questions Applicable to the Purchase of Class A Shares” beginning on page 48 of this Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page 86 of the Fund’s Statement of Additional Information (“SAI’’).
Shareholder Fees
(fees paid directly from your investment):
Shareholder Fees Goldman Sachs Retirement Portfolio Completion Fund
Class A
Class C
Institutional
Class IR
Class R
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Goldman Sachs Retirement Portfolio Completion Fund
Class A
Class C
Institutional
Class IR
Class R
Management Fees 0.45% 0.45% 0.45% 0.45% 0.45%
Distribution and Service (12b-1) Fees 0.25% 1.00% none none 0.50%
Other Expenses [1] 1.22% 1.22% 1.07% 1.22% 1.22%
Acquired Fund Fees and Expenses [2] 0.25% 0.25% 0.25% 0.25% 0.25%
Total Annual Fund Operating Expenses 2.17% 2.92% 1.77% 1.92% 2.42%
Fee Waiver and Expense Limitation [3] (1.19%) (1.19%) (1.19%) (1.19%) (1.19%)
Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation 0.98% 1.73% 0.58% 0.73% 1.23%
[1] The Fund's "Other Expenses" have been estimated to reflect expenses expected to be incurred during the first fiscal year.
[2] The Fund's "Acquired Fund Fees and Expenses" have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, litigation, indemnification, shareholder meeting and other extraordinary expenses) to 0.064% of the Fund's average daily net assets, and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests. Each arrangement will remain in effect through at least September 30, 2013, and prior to such date, the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. The Fund's "Other Expenses" may be further reduced by any custody and transfer agency fee credits received by the Fund.
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Class IR and/or Class R Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Class IR and/or Class R Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example Goldman Sachs Retirement Portfolio Completion Fund (USD $)
1 Year
3 Years
Class A Shares
471 918
Class C Shares
276 792
Institutional Shares
59 441
Class IR Shares
75 487
Class R Shares
125 641
Assuming no redemption
Expense Example, No Redemption (USD $)
1 Year
3 Years
Goldman Sachs Retirement Portfolio Completion Fund Class C Shares
176 792
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, including brokerage commissions, which must be borne by the Fund and its shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance.
Principal Strategy
The Fund is designed to provide retirement investors of all ages (i.e., both those who are approaching or planning for retirement and those who are currently retired) with access to certain asset classes that are typically underrepresented in retirement savings portfolios (the “Underlying Asset Classes”). The Fund’s Investment Adviser believes that the Underlying Asset Classes may provide return, risk, and correlation characteristics complementary to a portfolio of more traditional investments, such as large cap equities or investment grade fixed income. The Fund may also be used by non-retirement investors seeking exposure to the Underlying Asset Classes. The Fund currently intends to gain exposure to the Underlying Asset Classes set forth in the table below, principally through the use of the securities and derivatives indicated:

   
Underlying Asset Class Principal Investments Used to Obtain Exposure
US Inflation Linked Government Bonds
 Fixed income securities
   
Global Real Estate Investment Trusts (global “REITs”)
 Equity securities
   
Commodities
 Publicly traded partnerships (“PTPs”), Exchange Traded Funds (“ETFs”), investment companies
   
Emerging Markets Equity
 ETFs, futures (including equity index futures, synthetic futures, or other over-the-counter futures), equity index swaps, currency forwards
   
Emerging Markets Sovereign Credit
 Indexed credit default swaps
   
North American High Yield Corporate Credit
 Indexed credit default swaps
   
Hedge Fund Industry Beta*
 Goldman Sachs Absolute Return Tracker Fund (“Absolute Return Tracker Fund”)
   

*   “Hedge Fund Industry Beta” refers to the component of hedge fund returns that is attributable to market risk exposure, rather than manager skill.

Allocations Among the Underlying Asset Classes

The Investment Adviser allocates the Fund’s assets among the Underlying Asset Classes according to a proprietary rules-based, quantitative methodology. Each Underlying Asset Class (other than Hedge Fund Industry Beta) is represented by an index broadly representative of that asset class (the “Underlying Indices”). The Fund’s Underlying Asset Class allocations are rebalanced semi-annually. The Investment Adviser seeks to target approximately equal risk contributions from each Underlying Asset Class to the overall risk profile of the Fund, while at the same time allocating a maximum of 20% and a minimum of 5% of the Fund’s assets to each Underlying Asset Class at the time of each rebalancing. However, the Fund’s actual allocations will drift between rebalance dates, due to market movements or other factors, and the Investment Adviser may, in its discretion, but is not required to, reduce the Fund’s exposure to any Underlying Asset Class at other times to the extent that the Underlying Asset Class greatly exceeds 20% of the Fund’s portfolio. The Investment Adviser may change its methodology, target allocations and Underlying Asset Classes from time to time at its discretion.


Investments in the Underlying Asset Classes

Once the Investment Adviser has determined the allocations to each Underlying Asset Class, it employs a passive investment approach with respect to achieving exposure to those Underlying Asset Classes (other than Hedge Fund Industry Beta) within the Fund. Under that approach, Investment Adviser utilizes the Underlying Indices as a reference for making investments for the Fund in the Underlying Asset Classes (other than Hedge Fund Industry Beta). While the Fund will not attempt to fully replicate the investments of any Underlying Index, the Fund will attempt to approximate the investment characteristics and performance of each Underlying Index, and thus the investment characteristics and performance of each related Underlying Asset Class. The Fund will not attempt to exceed the performance of any Underlying Index.


Exposure to Hedge Fund Industry Beta. The Investment Adviser intends to gain exposure to Hedge Fund Industry Beta (that is, the component of hedge fund returns that is attributable to market risk exposure, rather than manager skill) by investing in the Absolute Return Tracker Fund, an affiliated mutual fund also managed by the Investment Adviser.

The Absolute Return Tracker Fund seeks to deliver long-term total returns consistent with investment results that approximate the return and risk patterns of a diversified universe of hedge funds. The Absolute Return Tracker Fund selects its investments using a quantitative algorithm (or methodology) that seeks to identify the beta component of hedge fund returns. The Absolute Return Tracker Fund invests in securities and other financial instruments that provide long or short exposure to market factors that represent the sources of market risk (the “Component Market Factors”) that contribute to Hedge Fund Industry Beta, including but not limited to U.S. and non-U.S. equity indices, fixed income indices, credit indices, commodity indices, volatility indices and developed and emerging markets ETFs. The exposure of the Absolute Return Tracker Fund to any particular Component Market Factor varies from time to time as the weightings of the Component Market Factors within the algorithm change. Neither the Fund nor the Absolute Return Tracker Fund invests in hedge funds.


Additional Information

As a result of the Fund’s use of derivatives, the Fund may also hold significant amounts of U.S. Treasury securities or short-term investments, including money market funds and repurchase agreements. For cash management purposes, the Fund may also invest in cash equivalents and short-term government bonds. In addition, the Fund may from time to time hold foreign currencies.

The Fund is not subject to any maturity or duration limitations with respect to individual fixed income holdings or the Fund’s collective fixed income portfolio, and the Fund is not restricted in its ability to invest in high yield non-investment grade fixed income securities (i.e., securities rated BB, Ba or below by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable quality).

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.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective.

Absence of Regulation. The Fund engages in over-the-counter (“OTC”) transactions. In general, there is less governmental regulation and supervision of transactions in the OTC markets than of transactions entered into on organized exchanges.

CFTC Regulation Risk. The Fund has claimed an exemption, which is available to registered investment companies, from regulation as a “commodity pool operator” under Commodity Futures Trading Commission (“CFTC”) Rule 4.5. However, the CFTC has recently adopted amendments to CFTC Rule 4.5, which, when effective, may subject the Fund to regulation by the CFTC. When these amendments become effective, the Fund may consider significant changes, which could include substantially altering its principal investment strategies (e.g., by reducing substantially the Fund’s exposure to the commodities markets) in order to continue to qualify for the exemption from regulation in CFTC Rule 4.5. Alternatively, the Fund may determine to operate subject to applicable CFTC requirements, including registration, disclosure and operational requirements governing commodity pools under the Commodity Exchange Act (“CEA”). Compliance with these additional requirements would increase Fund expenses. Certain of the rules that would apply to the Fund if it becomes subject to CFTC regulation as a commodity pool have not yet been adopted, and it is unclear what the effect of those rules would be on the Fund if they are adopted.

In addition, the CFTC has recently implemented final regulations that impose position limits and limit formulas on certain physical commodity futures and options contracts, including energy and metals contracts, and on physical commodity swaps that are economically equivalent to such contracts. The Investment Adviser’s decisions (and those of any adviser managing a PTP, ETF or investment company in which the Fund may invest) may need to be modified, and commodity contract positions held by the Fund (or any PTP, ETF or investment company in which the Fund may invest) may have to be liquidated at disadvantageous times or prices, to avoid exceeding these position limits, potentially subjecting the Fund to substantial losses. The regulation of commodity transactions in the United States is a rapidly changing area of law and is subject to ongoing modification by government, self-regulatory and judicial action. The effect of any future regulatory change on the Fund is impossible to predict, but could be substantial and adverse to the Fund.

Commodity Sector Risk. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The prices of energy, industrial metals, precious metals, agriculture and livestock sector commodities may fluctuate widely due to factors such as changes in value, supply and demand and governmental regulatory policies. Some of the commodity-linked investments in which the Fund may invest may be issued by companies in the financial services sector, and events affecting the financial services sector may cause the Fund’s share value to fluctuate.

Counterparty Risk. Many of the protections afforded to participants on some organized exchanges, such as the performance guarantee of an exchange clearinghouse, might not be available in connection with OTC transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.

Credit/Default Risk. An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest, repay principal or make a margin payment. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). To the extent that the Fund invests in non-investment grade fixed income securities, these risks will be more pronounced.

Derivatives Risk. Loss may result from the Fund’s investments in forwards, futures, swaps, structured securities and other derivative instruments. These instruments may be illiquid, difficult to price and leveraged so that small changes may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations.

Expenses Risk. By investing in other investment companies (including ETFs and money market funds) and PTPs indirectly through the Fund, the investor will incur not only a proportionate share of the expenses of the other investment companies and PTPs held by the Fund (including operating costs and investment management fees), but also expenses of the Fund.

Foreign and Emerging Countries Risk. Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. Loss may also result from the imposition of exchange controls, confiscations and other government restrictions, or from problems in registration, settlement or custody. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. To the extent that the Fund also invests in issuers located in emerging markets, these risks may be more pronounced.

Geographic Risk. Concentration of the investments of the Fund in issuers located in a particular country or region will subject the Fund, to a greater extent than if investments were less concentrated, to the risks of adverse securities markets, exchange rates and social, political, regulatory or economic events which may occur in that country or region.

Index/Tracking Error Risk. While the Investment Adviser will utilize certain indices as references for making investments for the Fund in the Underlying Asset Classes, the Fund will not attempt to fully replicate the investments, or match the performance, of each such index. Accordingly, the Fund’s allocations to any Underlying Asset Class, and thus the Fund’s overall portfolio composition and performance may not match, and may vary substantially from, that of any index that it may use to measure its investment performance (whether overall or with respect to any Underlying Asset Class) for any period of time. Unlike the Fund, the returns of an index are not reduced by investment and other operating expenses. At times, the Fund’s assets may not be fully invested in securities and instruments attempting to approximate the returns of an index. Due to regulatory or market constraints, the Fund may be unable to obtain sufficient exposure to a particular asset class (e.g., commodities).

Inflation Protected Securities Risk. The value of Inflation Protected Securities (“IPS”) generally fluctuates in response to inflationary concerns. As inflationary expectations increase, IPS will become more attractive, because they protect future interest payments and principal against inflation. Conversely, as inflationary concerns decrease, IPS will become less attractive and less valuable.

Interest Rate Risk. When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities will normally have more price volatility because of this risk than short-term fixed income securities.

Liquidity Risk. The Fund may make investments that may be illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities, at an unfavorable time and/or under unfavorable conditions.

Market Risk. The value of the instruments in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions.

Mid Cap and Small Cap Risk. Investments in mid-capitalization and small-capitalization companies involve greater risks than those associated with larger, more established companies. These securities may be subject to more abrupt or erratic price movements and may lack sufficient market liquidity, and these issuers often face greater business risks.

Non-Diversification Risk. The Fund is non-diversified and is permitted to invest more of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Non-Investment Grade Fixed Income Securities Risk. Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly referred to as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific corporate or municipal developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less secondary market liquidity.

Publicly Traded Partnerships (“PTP”) Risk. In addition to the risks associated with the underlying assets and exposures within a PTP (which in the case of the Fund’s expected PTP investments, include derivatives and the commodity sector risks), risks of investments in PTPs may include, among others: dependence upon specialized skills of the PTP’s manager, potential lack of liquidity and limitations on voting and distribution rights.

Real Estate Industry Risk. Risks associated with investments in the real estate industry include, among others: possible declines in the value of real estate; risks related to general and local economic conditions; possible lack of availability of mortgage financing, variations in rental income, neighborhood values or the appeal of property to tenants; interest rates; overbuilding; extended vacancies of properties; increases in competition, property taxes and operating expenses; and changes in zoning laws. The real estate industry is particularly sensitive to economic downturns. The values of securities of companies in the real estate industry may go through cycles of relative under-performance and out-performance in comparison to equity securities markets in general.

REIT Risk. REITs whose underlying properties are concentrated in a particular industry or geographic region are subject to risks affecting such industries and regions. The securities of REITs involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements because of interest rate changes, economic conditions and other factors. Securities of such issuers may lack sufficient market liquidity to enable the Fund to effect sales at an advantageous time or without a substantial drop in price.

Sovereign Risk. An issuer of non-U.S. sovereign debt, such as Germany or Japan, or the governmental authorities that control the repayment of the debt, may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.

Stock Risk. Stock prices have historically risen and fallen in periodic cycles. U.S. and foreign stock markets have experienced periods of substantial price volatility in the past and may do so again in the future.
Performance
As the Fund had not yet commenced investment operations as of the date of this Prospectus, there is no performance information quoted for the Fund.
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XML 17 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Sep. 28, 2012
Goldman Sachs Retirement Portfolio Completion Fund
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Retirement Portfolio Completion Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Retirement Portfolio Completion Fund (the “Fund”) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide — Common Questions Applicable to the Purchase of Class A Shares” beginning on page 48 of this Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page 86 of the Fund’s Statement of Additional Information (“SAI’’).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment):
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination September 30, 2013
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, including brokerage commissions, which must be borne by the Fund and its shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance.
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide — Common Questions Applicable to the Purchase of Class A Shares” beginning on page 48 of this Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page 86 of the Fund’s Statement of Additional Information (“SAI’’).
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 100,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The Fund’s “Other Expenses” have been estimated to reflect expenses expected to be incurred during the first fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates The Fund’s “Acquired Fund Fees and Expenses” have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Class IR and/or Class R Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Class IR and/or Class R Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund is designed to provide retirement investors of all ages (i.e., both those who are approaching or planning for retirement and those who are currently retired) with access to certain asset classes that are typically underrepresented in retirement savings portfolios (the “Underlying Asset Classes”). The Fund’s Investment Adviser believes that the Underlying Asset Classes may provide return, risk, and correlation characteristics complementary to a portfolio of more traditional investments, such as large cap equities or investment grade fixed income. The Fund may also be used by non-retirement investors seeking exposure to the Underlying Asset Classes. The Fund currently intends to gain exposure to the Underlying Asset Classes set forth in the table below, principally through the use of the securities and derivatives indicated:

   
Underlying Asset Class Principal Investments Used to Obtain Exposure
US Inflation Linked Government Bonds
 Fixed income securities
   
Global Real Estate Investment Trusts (global “REITs”)
 Equity securities
   
Commodities
 Publicly traded partnerships (“PTPs”), Exchange Traded Funds (“ETFs”), investment companies
   
Emerging Markets Equity
 ETFs, futures (including equity index futures, synthetic futures, or other over-the-counter futures), equity index swaps, currency forwards
   
Emerging Markets Sovereign Credit
 Indexed credit default swaps
   
North American High Yield Corporate Credit
 Indexed credit default swaps
   
Hedge Fund Industry Beta*
 Goldman Sachs Absolute Return Tracker Fund (“Absolute Return Tracker Fund”)
   

*   “Hedge Fund Industry Beta” refers to the component of hedge fund returns that is attributable to market risk exposure, rather than manager skill.

Allocations Among the Underlying Asset Classes

The Investment Adviser allocates the Fund’s assets among the Underlying Asset Classes according to a proprietary rules-based, quantitative methodology. Each Underlying Asset Class (other than Hedge Fund Industry Beta) is represented by an index broadly representative of that asset class (the “Underlying Indices”). The Fund’s Underlying Asset Class allocations are rebalanced semi-annually. The Investment Adviser seeks to target approximately equal risk contributions from each Underlying Asset Class to the overall risk profile of the Fund, while at the same time allocating a maximum of 20% and a minimum of 5% of the Fund’s assets to each Underlying Asset Class at the time of each rebalancing. However, the Fund’s actual allocations will drift between rebalance dates, due to market movements or other factors, and the Investment Adviser may, in its discretion, but is not required to, reduce the Fund’s exposure to any Underlying Asset Class at other times to the extent that the Underlying Asset Class greatly exceeds 20% of the Fund’s portfolio. The Investment Adviser may change its methodology, target allocations and Underlying Asset Classes from time to time at its discretion.


Investments in the Underlying Asset Classes

Once the Investment Adviser has determined the allocations to each Underlying Asset Class, it employs a passive investment approach with respect to achieving exposure to those Underlying Asset Classes (other than Hedge Fund Industry Beta) within the Fund. Under that approach, Investment Adviser utilizes the Underlying Indices as a reference for making investments for the Fund in the Underlying Asset Classes (other than Hedge Fund Industry Beta). While the Fund will not attempt to fully replicate the investments of any Underlying Index, the Fund will attempt to approximate the investment characteristics and performance of each Underlying Index, and thus the investment characteristics and performance of each related Underlying Asset Class. The Fund will not attempt to exceed the performance of any Underlying Index.


Exposure to Hedge Fund Industry Beta. The Investment Adviser intends to gain exposure to Hedge Fund Industry Beta (that is, the component of hedge fund returns that is attributable to market risk exposure, rather than manager skill) by investing in the Absolute Return Tracker Fund, an affiliated mutual fund also managed by the Investment Adviser.

The Absolute Return Tracker Fund seeks to deliver long-term total returns consistent with investment results that approximate the return and risk patterns of a diversified universe of hedge funds. The Absolute Return Tracker Fund selects its investments using a quantitative algorithm (or methodology) that seeks to identify the beta component of hedge fund returns. The Absolute Return Tracker Fund invests in securities and other financial instruments that provide long or short exposure to market factors that represent the sources of market risk (the “Component Market Factors”) that contribute to Hedge Fund Industry Beta, including but not limited to U.S. and non-U.S. equity indices, fixed income indices, credit indices, commodity indices, volatility indices and developed and emerging markets ETFs. The exposure of the Absolute Return Tracker Fund to any particular Component Market Factor varies from time to time as the weightings of the Component Market Factors within the algorithm change. Neither the Fund nor the Absolute Return Tracker Fund invests in hedge funds.


Additional Information

As a result of the Fund’s use of derivatives, the Fund may also hold significant amounts of U.S. Treasury securities or short-term investments, including money market funds and repurchase agreements. For cash management purposes, the Fund may also invest in cash equivalents and short-term government bonds. In addition, the Fund may from time to time hold foreign currencies.

The Fund is not subject to any maturity or duration limitations with respect to individual fixed income holdings or the Fund’s collective fixed income portfolio, and the Fund is not restricted in its ability to invest in high yield non-investment grade fixed income securities (i.e., securities rated BB, Ba or below by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable quality).

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.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective.

Absence of Regulation. The Fund engages in over-the-counter (“OTC”) transactions. In general, there is less governmental regulation and supervision of transactions in the OTC markets than of transactions entered into on organized exchanges.

CFTC Regulation Risk. The Fund has claimed an exemption, which is available to registered investment companies, from regulation as a “commodity pool operator” under Commodity Futures Trading Commission (“CFTC”) Rule 4.5. However, the CFTC has recently adopted amendments to CFTC Rule 4.5, which, when effective, may subject the Fund to regulation by the CFTC. When these amendments become effective, the Fund may consider significant changes, which could include substantially altering its principal investment strategies (e.g., by reducing substantially the Fund’s exposure to the commodities markets) in order to continue to qualify for the exemption from regulation in CFTC Rule 4.5. Alternatively, the Fund may determine to operate subject to applicable CFTC requirements, including registration, disclosure and operational requirements governing commodity pools under the Commodity Exchange Act (“CEA”). Compliance with these additional requirements would increase Fund expenses. Certain of the rules that would apply to the Fund if it becomes subject to CFTC regulation as a commodity pool have not yet been adopted, and it is unclear what the effect of those rules would be on the Fund if they are adopted.

In addition, the CFTC has recently implemented final regulations that impose position limits and limit formulas on certain physical commodity futures and options contracts, including energy and metals contracts, and on physical commodity swaps that are economically equivalent to such contracts. The Investment Adviser’s decisions (and those of any adviser managing a PTP, ETF or investment company in which the Fund may invest) may need to be modified, and commodity contract positions held by the Fund (or any PTP, ETF or investment company in which the Fund may invest) may have to be liquidated at disadvantageous times or prices, to avoid exceeding these position limits, potentially subjecting the Fund to substantial losses. The regulation of commodity transactions in the United States is a rapidly changing area of law and is subject to ongoing modification by government, self-regulatory and judicial action. The effect of any future regulatory change on the Fund is impossible to predict, but could be substantial and adverse to the Fund.

Commodity Sector Risk. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The prices of energy, industrial metals, precious metals, agriculture and livestock sector commodities may fluctuate widely due to factors such as changes in value, supply and demand and governmental regulatory policies. Some of the commodity-linked investments in which the Fund may invest may be issued by companies in the financial services sector, and events affecting the financial services sector may cause the Fund’s share value to fluctuate.

Counterparty Risk. Many of the protections afforded to participants on some organized exchanges, such as the performance guarantee of an exchange clearinghouse, might not be available in connection with OTC transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.

Credit/Default Risk. An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest, repay principal or make a margin payment. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). To the extent that the Fund invests in non-investment grade fixed income securities, these risks will be more pronounced.

Derivatives Risk. Loss may result from the Fund’s investments in forwards, futures, swaps, structured securities and other derivative instruments. These instruments may be illiquid, difficult to price and leveraged so that small changes may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations.

Expenses Risk. By investing in other investment companies (including ETFs and money market funds) and PTPs indirectly through the Fund, the investor will incur not only a proportionate share of the expenses of the other investment companies and PTPs held by the Fund (including operating costs and investment management fees), but also expenses of the Fund.

Foreign and Emerging Countries Risk. Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. Loss may also result from the imposition of exchange controls, confiscations and other government restrictions, or from problems in registration, settlement or custody. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. To the extent that the Fund also invests in issuers located in emerging markets, these risks may be more pronounced.

Geographic Risk. Concentration of the investments of the Fund in issuers located in a particular country or region will subject the Fund, to a greater extent than if investments were less concentrated, to the risks of adverse securities markets, exchange rates and social, political, regulatory or economic events which may occur in that country or region.

Index/Tracking Error Risk. While the Investment Adviser will utilize certain indices as references for making investments for the Fund in the Underlying Asset Classes, the Fund will not attempt to fully replicate the investments, or match the performance, of each such index. Accordingly, the Fund’s allocations to any Underlying Asset Class, and thus the Fund’s overall portfolio composition and performance may not match, and may vary substantially from, that of any index that it may use to measure its investment performance (whether overall or with respect to any Underlying Asset Class) for any period of time. Unlike the Fund, the returns of an index are not reduced by investment and other operating expenses. At times, the Fund’s assets may not be fully invested in securities and instruments attempting to approximate the returns of an index. Due to regulatory or market constraints, the Fund may be unable to obtain sufficient exposure to a particular asset class (e.g., commodities).

Inflation Protected Securities Risk. The value of Inflation Protected Securities (“IPS”) generally fluctuates in response to inflationary concerns. As inflationary expectations increase, IPS will become more attractive, because they protect future interest payments and principal against inflation. Conversely, as inflationary concerns decrease, IPS will become less attractive and less valuable.

Interest Rate Risk. When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities will normally have more price volatility because of this risk than short-term fixed income securities.

Liquidity Risk. The Fund may make investments that may be illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities, at an unfavorable time and/or under unfavorable conditions.

Market Risk. The value of the instruments in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions.

Mid Cap and Small Cap Risk. Investments in mid-capitalization and small-capitalization companies involve greater risks than those associated with larger, more established companies. These securities may be subject to more abrupt or erratic price movements and may lack sufficient market liquidity, and these issuers often face greater business risks.

Non-Diversification Risk. The Fund is non-diversified and is permitted to invest more of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Non-Investment Grade Fixed Income Securities Risk. Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly referred to as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific corporate or municipal developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less secondary market liquidity.

Publicly Traded Partnerships (“PTP”) Risk. In addition to the risks associated with the underlying assets and exposures within a PTP (which in the case of the Fund’s expected PTP investments, include derivatives and the commodity sector risks), risks of investments in PTPs may include, among others: dependence upon specialized skills of the PTP’s manager, potential lack of liquidity and limitations on voting and distribution rights.

Real Estate Industry Risk. Risks associated with investments in the real estate industry include, among others: possible declines in the value of real estate; risks related to general and local economic conditions; possible lack of availability of mortgage financing, variations in rental income, neighborhood values or the appeal of property to tenants; interest rates; overbuilding; extended vacancies of properties; increases in competition, property taxes and operating expenses; and changes in zoning laws. The real estate industry is particularly sensitive to economic downturns. The values of securities of companies in the real estate industry may go through cycles of relative under-performance and out-performance in comparison to equity securities markets in general.

REIT Risk. REITs whose underlying properties are concentrated in a particular industry or geographic region are subject to risks affecting such industries and regions. The securities of REITs involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements because of interest rate changes, economic conditions and other factors. Securities of such issuers may lack sufficient market liquidity to enable the Fund to effect sales at an advantageous time or without a substantial drop in price.

Sovereign Risk. An issuer of non-U.S. sovereign debt, such as Germany or Japan, or the governmental authorities that control the repayment of the debt, may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.

Stock Risk. Stock prices have historically risen and fallen in periodic cycles. U.S. and foreign stock markets have experienced periods of substantial price volatility in the past and may do so again in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Non-Diversification Risk. The Fund is non-diversified and is permitted to invest more of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock As the Fund had not yet commenced investment operations as of the date of this Prospectus, there is no performance information quoted for the Fund.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As the Fund had not yet commenced investment operations as of the date of this Prospectus, there is no performance information quoted for the Fund.
Goldman Sachs Retirement Portfolio Completion Fund | Class A
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.45%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 1.22% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.25% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.17%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.19%) [4]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation rr_NetExpensesOverAssets 0.98%
1 Year rr_ExpenseExampleYear01 471
3 Years rr_ExpenseExampleYear03 918
Goldman Sachs Retirement Portfolio Completion Fund | Class C
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.45%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 1.22% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.25% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.92%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.19%) [4]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation rr_NetExpensesOverAssets 1.73%
1 Year rr_ExpenseExampleYear01 276
3 Years rr_ExpenseExampleYear03 792
1 Year rr_ExpenseExampleNoRedemptionYear01 176
3 Years rr_ExpenseExampleNoRedemptionYear03 792
Goldman Sachs Retirement Portfolio Completion Fund | Institutional
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.45%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 1.07% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.25% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.77%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.19%) [4]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation rr_NetExpensesOverAssets 0.58%
1 Year rr_ExpenseExampleYear01 59
3 Years rr_ExpenseExampleYear03 441
Goldman Sachs Retirement Portfolio Completion Fund | Class IR
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.45%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 1.22% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.25% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.92%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.19%) [4]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation rr_NetExpensesOverAssets 0.73%
1 Year rr_ExpenseExampleYear01 75
3 Years rr_ExpenseExampleYear03 487
Goldman Sachs Retirement Portfolio Completion Fund | Class R
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.45%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 1.22% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.25% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.42%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.19%) [4]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation rr_NetExpensesOverAssets 1.23%
1 Year rr_ExpenseExampleYear01 125
3 Years rr_ExpenseExampleYear03 641
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Other Expenses" have been estimated to reflect expenses expected to be incurred during the first fiscal year.
[3] The Fund's "Acquired Fund Fees and Expenses" have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The Investment Adviser has agreed to (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, litigation, indemnification, shareholder meeting and other extraordinary expenses) to 0.064% of the Fund's average daily net assets, and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests. Each arrangement will remain in effect through at least September 30, 2013, and prior to such date, the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. The Fund's "Other Expenses" may be further reduced by any custody and transfer agency fee credits received by the Fund.
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12 Months Ended
Sep. 28, 2012
Risk/Return:  
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Document Period End Date Sep. 24, 2012
Registrant Name GOLDMAN SACHS TRUST
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Document Creation Date Sep. 24, 2012
Document Effective Date Sep. 28, 2012
Prospectus Date Sep. 28, 2012
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