M&A - GOLDMAN SACHS TRUST

Form Type: N-14

Filing Date: 2025-02-24

Corporate Action: Merger

Type: New

Accession Number: 000119312525032139

Filing Summary: On February 11-12, 2025, the Board of Trustees of the Acquired Fund (Goldman Sachs U.S. Equity ESG Fund) approved a reorganization where the Acquired Fund will merge with the Goldman Sachs Enhanced U.S. Equity Fund, referred to as the Surviving Fund. This merger is deemed to be in the best interests of the shareholders as it is expected to enhance operational efficiencies, reduce expenses, and provide better asset growth potential. The reorganization is scheduled to occur on or about April 25, 2025. Shareholders of the Acquired Fund will automatically receive shares of the Surviving Fund equivalent in value to their holdings in the Acquired Fund without incurring any transaction fees. The reorganization is intended to be tax-free for federal income tax purposes, and shareholders have been expressly informed that no action is required on their part regarding the merger.

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Form Type: 497

Filing Date: 2025-02-14

Corporate Action: Merger

Type: New

Accession Number: 000119312525026933

Filing Summary: The Board of Trustees of Goldman Sachs Trust approved a Plan of Reorganization for the Goldman Sachs U.S. Equity ESG Fund. This plan involves merging the Acquired Fund with the Goldman Sachs Enhanced Core Equity Fund. The reorganization aims to rationalize the funds sharing the same investment objectives, enhance operational efficiency by potentially lowering expenses, and better position the combined fund for asset growth. As part of the merger, the Acquired Fund will transfer its assets to the Surviving Fund, which will assume its liabilities. The Acquired Fund will then be liquidated, and its shareholders will receive shares of the Surviving Fund equivalent in value to their holdings in the Acquired Fund. This reorganization is intended to be tax-free for federal income tax purposes and is scheduled to close around April 25, 2025. Key conditions must be met for completion, but shareholder approval is not required. As of February 14, 2025, the Acquired Fund may change its investment policies in preparation for the merger, possibly incurring capital gains and producing taxable capital gain distributions. Existing shareholders can continue transactions until March 21, 2025, after which new purchases in the Acquired Fund will be suspended until the merger is finalized.

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Form Type: 497K

Filing Date: 2025-02-14

Corporate Action: Merger

Type: New

Accession Number: 000119312525026937

Filing Summary: On February 14, 2025, Goldman Sachs Trust announced a plan for the reorganization of the Goldman Sachs U.S. Equity ESG Fund into the Goldman Sachs Enhanced Core Equity Fund. This merger, recommended by Goldman Sachs Asset Management, aims to enhance efficiency and asset growth by combining funds within the same Morningstar category. The reorganization involves transferring all assets and assuming liabilities of the Acquired Fund, which will be liquidated, leaving shareholders of the Acquired Fund to become shareholders of the Surviving Fund. They will receive equivalent shares based on net asset value. The reorganization is targeted to close around April 25, 2025, and is designed to qualify as tax-free for federal income tax purposes. Shareholders are advised that the Acquired Fund may begin adjusting its investment objectives in preparation for this merger, which is anticipated to result in a higher portfolio turnover and capital gains distributions to taxable shareholders. Existing shareholders will receive detailed information about the merger, and from February 14, 2025, until the reorganization's effective time, they can continue to redeem and exchange shares without incurring a Contingent Deferred Sales Charge.

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