LU2254254266
Goldman Sachs Global Multi-Asset Income Portfolio Fund SGD-Hedged (Dist.)

Multi-asset
Global
SGD Cash
Distributing

Invest with

SGD Cash

Payout type

Distributing

Risk rating

About this fund

Description

To provide strong total returns primarily through generating an attractive and sustainable income by investing globally across a broad range of income-generating asset classes.

Key information

Annual report

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Product Highlight Sheet

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Prospectus

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Information Memorandum

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Factsheet

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Our perspective

Why we think this fund is best-in-class

Product

The fund utilises a multi-asset approach that allows for some capital appreciation while focusing on income generation through a combination of bonds, large cap equities and covered calls.One competitive advantage of this fund is that a significant portion of the strategy’s income is derived from its options writing component. The covered call premiums is a sustainable source of income that leverages Goldman Sachs’ trading expertise and prowess.The multi-asset approach allows for lower volatility than equities while being less sensitive to interest rate that is typical of investment grade bonds.

People

Asset allocation team oversees the fund’s allocation and is composed of the Multi-Asset Solutions team’s CIO Neill Nuttall and 3 portfolio managers with each having more than 10 years of experience. The team taps on the expertise of the equity team for stock selection, the fixed income team for bond selection and the quantitative investment strategies team for covered call writing. They are also supported by 200 multi-asset solutions professionals.

Performance

The fund has delivered strong returns relative to its peers over the long term while also maintaining a comparable overall risk level. Because the fund has less of a bias towards the value style compared to peers, there is a possibility that the fund may underperform peers in periods when value stocks are in favour. However, the fund still performed relatively well in 2022.As a multi-asset fund, the fund is anchored on a long-term asset allocation approach and may underperform in periods of shock and crises when short-term correlations across asset classes increase

Process

The asset allocation team defines the reference benchmark for each team and determines each sleeve allocation. The team also monitors the portfolio’s overall duration and each team’s tracking error to the benchmark they have set for that asset class.The fixed income component combines high yield debt instruments with emerging market and corporate debt to build a barbell portfolio. The equity component is an income-oriented large cap strategy with a higher conviction philosophy. The quantitative investment strategies team utilises a systematic approach in writing the covered calls, which are mainly on global indices (US, Europe, UK and Japan).

Cost

Retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

The fund is an alternative income option to pure fixed income or equity solutions. Additionally, the fund’s emphasis on index option writing and higher yielding fixed income offers a differentiated approach for investors looking for a multi-asset income strategy with little exposure to REITs.Investors should note that the fund gets a significant portion of its income from call writing and this may lead the strategy to underperform during strong bull markets. The fund may be suitable for those with specific income needs and should ideally be supplemented by non income related allocations.Updated as of 2023/03/06

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Performance

Returns

NAV

Shows the total return of this distributing fund, which includes dividends paid out.

Total returns

Cumulative

Annualised

All Time

22.46%

YTD

0.92%

1 month

0.92%

6 month

5.26%

1 year

7.13%

3 year

23.09%

5 year

22.87%

As of Jan 2026

Distributions

5.92%

Frequency

Monthly

30 Jan 2026

Risk metrics

Max drawdown

-18.16%As of Jan 2026

Volatility

8.19%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.9%	-	-	-	-	-	-	-	-	-	-	-
2025	8.3%	2.1%	0.3%	-2.3%	-1.1%	1.9%	2.2%	0.9%	1.0%	1.1%	0.9%	0.8%	0.5%
2024	5.9%	0.1%	0.6%	2.0%	-2.3%	1.1%	1.4%	1.3%	1.7%	1.3%	-1.9%	2.3%	-1.8%
2023	10.9%	4.3%	-1.6%	1.3%	1.5%	-1.4%	2.1%	1.4%	-1.3%	-2.4%	-2.5%	5.5%	3.9%
2022	-13.2%	-2.9%	-2.4%	0.1%	-3.1%	-0.6%	-7.0%	5.2%	-2.4%	-6.4%	3.7%	3.6%	-1.2%
Load more		5 of 7

Top Exposures

Holdings

Regions

Sectors

FORWARD US DOLLAR Purchased (2025-12-08 Maturity)	6.57%
MSCS FLO ALL (2049-12-31 Maturity)	4.48%
FORWARD US DOLLAR Purchased (2025-12-17 Maturity)	3.56%
FORWARD BRITISH POUND Purchased (2026-02-04 Maturity)	3.39%
US DOLLAR (2025-12-01 Maturity)	2.33%
Euro Bobl Future Dec 25 (2025-12-08 Maturity)	1.49%
FORWARD US DOLLAR Purchased (2026-01-12 Maturity)	1.32%
Euro Schatz Future Dec 25 (2025-12-08 Maturity)	1.22%
FORWARD US DOLLAR Purchased (2026-01-30 Maturity)	1.20%
United States Treasury Bills 0% (2026-01-27 Maturity)	1.14%
United States Treasury Bills 0% (2026-01-06 Maturity)	1.14%
United States Treasury Bills 0% (2025-12-26 Maturity)	1.14%
Johnson & Johnson	1.14%
United States Treasury Bills 0% (2026-03-03 Maturity)	1.11%
Microsoft Corp	1.03%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.46%0.72% p.a.

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Fund facts

ISIN

LU2254254266

Fund house

GSAM

Fund size

S$662.9M

As of 30 Jan 2026

Fund inception date

01 Dec 2020

Fund class currency

SGD

Fund share class

OCS (Stable MDist) (SGD)

Oldest share class ISIN

LU1032466952

Oldest share inception date

18 Mar 2014

Pricing frequency

Daily

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LU2254254266Goldman Sachs Global Multi-Asset Income Portfolio Fund SGD-Hedged (Dist.)

LU2254254266
Goldman Sachs Global Multi-Asset Income Portfolio Fund SGD-Hedged (Dist.)