Goldman Sachs Euro Bond - P Cap EUR

This Sub-Fund aims to generate returns via the active management of a portfolio of bonds and Money Market Instruments by investing primarily (minimum 2/3) in bonds and Money Market Instruments denominated in euro. Measured over a period of several years the Sub-Fund aims to beat the performance of the Index as listed in the Appendix II of the Company’s Prospectus. The Index is a broad representation of the Sub-Fund’s investment universe. The Sub-Fund can also include investments into fixed income securities that are not part of the Index universe. The Sub-Fund uses active management to anticipate changes of the level of government bond yields, country and credit spreads within the eurozone based on fundamental and quantitative analysis, with deviation limits maintained relative to the Index. The Sub-Fund’s investments can therefore materially deviate from the Index.