Goldman's Absolute Return Tracker Fund to replicate hedge fund betas

By Toni Weeks

San Diego, Feb. 1 - The board of trustees of the Goldman Sachs Trust has approved a change in the investment objective for class A, class C, class IR, class R and institutional class shares of the Goldman Sachs Absolute Return Tracker Fund, according to a 497 filing with the Securities and Exchange Commission.

Beginning April 2, the fund will seek long-term total return consistent with investment results that approximate the return and risk patterns of a diversified universe of hedge funds. The fund will seek to replicate the investment returns of hedge fund betas, which are the portion of the returns of hedge funds that results from market exposure rather than manager skill.

Currently, the fund aims to achieve investment results that approximate the performance of the Goldman Sachs Absolute Return Tracker Index.

The fund's other investment policies, strategies, fees and expenses will remain the same, as will its portfolio management team.

The fund's investment adviser is New York-based Goldman Sachs Asset Management, LP.

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