Goldman Sachs Short-Term Conservative Income Fund (GPPIX) Diversifiers

The fund normally invests in a broad range of high quality, U.S. dollar-denominated fixed income instruments, including obligations issued or guaranteed by the U.S. government, its agencies, authorities, instrumentalities or sponsored enterprises ("U.S. government securities"), obligations of U.S. banks, corporate notes, commercial paper and other short-term obligations of U.S. companies, certificates of deposit, states, municipalities and other entities, fixed and floating rate asset-backed securities and repurchase agreements.