0001046292 2021-04-30 2021-04-30 0001046292 gsvit:S000009360Member 2021-04-30 2021-04-30 pure iso4217:USD false 2022-02-16 497 0001046292 N-1A 2020-12-31 <div style="margin-top:0pt;margin-bottom:0pt;font-size:13pt;font-family:times new roman;font-weight:bold;text-align:center;">GOLDMAN SACHS VARIABLE INSURANCE TRUST</div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">Institutional and Service Shares of the </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">Goldman Sachs Growth Opportunities Fund </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">(the “Fund”) </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic">Supplement dated February 16, 2022 to the </span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic">Prospectuses, Summary Prospectuses and Statement of Additional Information (“SAI”), </span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">each dated April 30, 2021, as supplemented to date </span></span></div><div style="margin-top:18pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Board of Trustees of the Goldman Sachs Variable Insurance Trust has recently approved changes to the Fund’s name and principal investment strategy. These changes are not expected to materially affect the Fund’s current portfolio holdings. These changes will become effective after close of business on April 29, 2022. </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund’s name will change to the “Goldman Sachs Mid Cap Growth Fund.” </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Accordingly, on April 29, 2022, the Fund’s Prospectuses, Summary Prospectuses and SAI are revised as follows: </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;">All references in the Prospectuses, Summary Prospectuses and SAI to the “Goldman Sachs Growth Opportunities Fund” are replaced with the “Goldman Sachs Mid Cap Growth Fund.” </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;"><span style="font-weight:bold">The following replaces in its entirety the first paragraph of the “</span><span style="font-weight:bold"><span style="font-style:italic">Goldman Sachs Growth Opportunities Fund—Summary—Principal Strategy</span></span><span style="font-weight:bold">” section of the Prospectuses and “</span><span style="font-weight:bold"><span style="font-style:italic">Principal Strategy</span></span><span style="font-weight:bold">” section of the Summary Prospectuses: </span></div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in a diversified portfolio of equity investments in mid‑cap issuers. Mid‑cap issuers are issuers with public stock market capitalizations (based upon shares available for trading on an unrestricted basis) within the range of the market capitalizations of companies constituting the Russell Midcap<sup style="font-size:85%;vertical-align:top">®</sup> Growth Index at the time of investment. As of December 31, 2021, the capitalization range of the companies in the Russell Midcap<sup style="font-size:85%;vertical-align:top">®</sup> Growth Index was between $0.43 billion and $58.76 billion. Although the Fund invests primarily in publicly traded U.S. securities, it may invest up to 25% of its total assets measured at the time of purchase (“Total Assets”) in foreign securities, including securities of issuers in countries with emerging markets or economies (“emerging countries”) and securities quoted in foreign currencies. The Fund may also invest in privately held companies and companies that only recently began to trade publicly. </div> <div style="margin-top:0pt;margin-bottom:0pt;font-size:13pt;font-family:times new roman;font-weight:bold;text-align:center;">GOLDMAN SACHS VARIABLE INSURANCE TRUST</div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">Institutional and Service Shares of the </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">Goldman Sachs Growth Opportunities Fund </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">(the “Fund”) </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic">Supplement dated February 16, 2022 to the </span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic">Prospectuses, Summary Prospectuses and Statement of Additional Information (“SAI”), </span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">each dated April 30, 2021, as supplemented to date </span></span></div><div style="margin-top:18pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Board of Trustees of the Goldman Sachs Variable Insurance Trust has recently approved changes to the Fund’s name and principal investment strategy. These changes are not expected to materially affect the Fund’s current portfolio holdings. These changes will become effective after close of business on April 29, 2022. </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund’s name will change to the “Goldman Sachs Mid Cap Growth Fund.” </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Accordingly, on April 29, 2022, the Fund’s Prospectuses, Summary Prospectuses and SAI are revised as follows: </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;">All references in the Prospectuses, Summary Prospectuses and SAI to the “Goldman Sachs Growth Opportunities Fund” are replaced with the “Goldman Sachs Mid Cap Growth Fund.” </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;"><span style="font-weight:bold">The following replaces in its entirety the first paragraph of the “</span><span style="font-weight:bold"><span style="font-style:italic">Goldman Sachs Growth Opportunities Fund—Summary—Principal Strategy</span></span><span style="font-weight:bold">” section of the Prospectuses and “</span><span style="font-weight:bold"><span style="font-style:italic">Principal Strategy</span></span><span style="font-weight:bold">” section of the Summary Prospectuses: </span></div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in a diversified portfolio of equity investments in mid‑cap issuers. Mid‑cap issuers are issuers with public stock market capitalizations (based upon shares available for trading on an unrestricted basis) within the range of the market capitalizations of companies constituting the Russell Midcap<sup style="font-size:85%;vertical-align:top">®</sup> Growth Index at the time of investment. As of December 31, 2021, the capitalization range of the companies in the Russell Midcap<sup style="font-size:85%;vertical-align:top">®</sup> Growth Index was between $0.43 billion and $58.76 billion. Although the Fund invests primarily in publicly traded U.S. securities, it may invest up to 25% of its total assets measured at the time of purchase (“Total Assets”) in foreign securities, including securities of issuers in countries with emerging markets or economies (“emerging countries”) and securities quoted in foreign currencies. The Fund may also invest in privately held companies and companies that only recently began to trade publicly. </div> GOLDMAN SACHS VARIABLE INSURANCE TRUST 2022-02-16 2021-04-30