0000822977 2011-04-03 2012-04-02 0000822977 gst16:S000015787Member 2011-04-03 2012-04-02 Other 2011-12-31 false GOLDMAN SACHS TRUST Goldman Sachs Select Satellite Funds Class A Shares, Class B Shares, Class C Shares, Institutional Shares, Service Shares, Class IR Shares and Class R Shares (as applicable) of the Goldman Sachs Absolute Return Tracker Fund Goldman Sachs Commodity Strategy Fund Goldman Sachs Dynamic Allocation Fund Goldman Sachs International Real Estate Securities Fund Goldman Sachs Real Estate Securities Fund (the "Funds") Supplement dated December 31, 2012 to the Prospectus, dated April 2, 2012, as supplemented to date ("Prospectus") As of January 1, 2013, Goldman Sachs Asset Management, L.P. is expected to be subject to registration and regulation as a commodity pool operator under the Commodity Exchange Act with respect to its service as investment adviser to the Absolute Return Tracker, Commodity Strategy and Dynamic Allocation Funds and the Commodity Strategy Fund's wholly-owned subsidiary organized under the laws of the Cayman Islands. Effective January 1, 2013, the "Goldman Sachs Commodity Strategy Fund—Summary—Principal Risks of the Fund" section of the Prospectus is amended by deleting "CFTC Regulation Risk." Effective January 1, 2013, the "Risks of the Funds" section of the Prospectus is amended by deleting "CFTC Regulation Risk." GOLDMAN SACHS TRUST Goldman Sachs Select Satellite Funds Class A Shares, Class B Shares, Class C Shares, Institutional Shares, Service Shares, Class IR Shares and Class R Shares (as applicable) of the Goldman Sachs Absolute Return Tracker Fund Goldman Sachs Commodity Strategy Fund Goldman Sachs Dynamic Allocation Fund Goldman Sachs International Real Estate Securities Fund Goldman Sachs Real Estate Securities Fund (the "Funds") Supplement dated December 31, 2012 to the Prospectus, dated April 2, 2012, as supplemented to date ("Prospectus") As of January 1, 2013, Goldman Sachs Asset Management, L.P. is expected to be subject to registration and regulation as a commodity pool operator under the Commodity Exchange Act with respect to its service as investment adviser to the Absolute Return Tracker, Commodity Strategy and Dynamic Allocation Funds and the Commodity Strategy Fund's wholly-owned subsidiary organized under the laws of the Cayman Islands. Effective January 1, 2013, the "Goldman Sachs Commodity Strategy Fund—Summary—Principal Risks of the Fund" section of the Prospectus is amended by deleting "CFTC Regulation Risk." Effective January 1, 2013, the "Risks of the Funds" section of the Prospectus is amended by deleting "CFTC Regulation Risk." 2012-04-02 GOLDMAN SACHS TRUST 0000822977 2012-12-31 2012-12-31