497K 1 d850179d497k.htm GOLDMAN SACHS VARIABLE INSURANCE TRUST Goldman Sachs Variable Insurance Trust

GOLDMAN SACHS VARIABLE INSURANCE TRUST

Institutional and Service Shares of the

Goldman Sachs Large Cap Value Fund

(the “Fund”)

Supplement dated December 27, 2019 to the

Summary Prospectuses, Prospectuses and Statement of Additional Information (the “SAI”),

each dated April 30, 2019, as supplemented to date

Effective immediately, Kevin Martens will serve as a portfolio manager for the Fund. Charles “Brook” Dane will continue to serve as a portfolio manager for the Fund.

Accordingly, effective immediately, the Fund’s disclosures are modified as follows:

The following replaces in its entirety the “Portfolio Management” subsection under the “Goldman Sachs Large Cap Value Fund—Summary—Portfolio Management” section of the Fund’s Prospectuses, as well as under the “Portfolio Management” section of the Fund’s Summary Prospectuses:

Portfolio Managers: Charles “Brook” Dane, CFA, Vice President, has managed the Fund since 2018; and Kevin Martens, Vice President, has managed the Fund since 2019.

The following row is added to the table under the “Service Providers—Fund Managers” section of the Fund’s Prospectuses:

 

Kevin Martens

Vice President

   Portfolio Manager— Large Cap Value   Since 2019   Mr. Martens is a portfolio manager on the GSAM US Equity ESG Strategy, as well as a portfolio manager on the US Equity Team where he has broad research responsibilities for the Industrials sector across the US Large- and Mid-Cap Equity strategies. Before joining the Investment Adviser in 2015, Mr. Martens spent four years at ClearBridge Investments.
     

The following row is added to the “Large Cap Value Fund” subsection in the “Portfolio Managers—Other Accounts Managed by the Portfolio Managers” section of the SAI:

 

 

   Number of Other Accounts Managed and
Total Assets by Account Type		   Number of Accounts and Total Assets for
Which Advisory Fee is Performance Based
    Registered
Investment
Companies		   Other Pooled
Investment
Vehicles		   Other
Accounts		   Registered
Investment
Companies		   Other Pooled
Investment
Vehicles		   Other
Accounts

Name of
Portfolio

Manager

   Number
of
Accounts		   Assets
Managed		   Number
of
Accounts		   Assets
Managed		   Number
of
Accounts		   Assets
Managed		   Number
of
Accounts		   Assets
Managed		   Number
of
Accounts		   Assets
Managed		   Number
of
Accounts		   Assets
Managed
Kevin Martens5   0   $0   0   $0   1   $100   0   $0   0   $0   0   $0

 

5

Information for this portfolio manager for this Fund is as of November 30, 2019.

The following row is added to the “Large Cap Value Fund” subsection in the “Portfolio Managers—Portfolio Managers’ Ownership of Securities in the Funds They Manage” section of the SAI:

 

Name of Portfolio Manager

  

Dollar Range of Equity Securities Beneficially

Owned by Portfolio Manager

Kevin Martens2   None

 

2

Information for this portfolio manager for this Fund is as of December 17, 2019.

This supplement should be retained with your Prospectuses, Summary Prospectuses and SAI for future reference.

 

VITLGCAPTBDSTK 12-19