Fund Evaluator:

Goldman Sachs Managed Futs Strat Instl Overview

Goldman Sachs Managed Futs Strat Instl (GMSSX) is an actively managed Alternative Systematic Trend fund. Goldman Sachs launched the fund in 2012.

The investment seeks to generate long-term absolute return. The fund implements a trend-following strategy that takes long and/or short positions in a wide range of asset classes, including equities, fixed income, commodities and currencies, among others, to seek long-term absolute return. It seeks to achieve its investment objective by investing primarily in a portfolio of equities, equity index futures, bonds, bond futures, equity swaps, interest rate swaps, currency forwards and non-deliverable forwards, options, exchange traded funds ("ETFs"), and structured securities.

About Goldman Sachs Managed Futs Strat Instl (GMSSX)

There are 3 members of the management team with an average tenure of 5.74 years: Momoko Ono (2017), Oliver Bunn (2022), Jay Seo (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR Hdg USD index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. Goldman Sachs Managed Futs Strat Instl has 89 securities in its portfolio. The top 10 holdings constitute 92.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Goldman Sachs Managed Futs Strat Instl is part of the Alternative Strategies global asset class and is within the Alternative fund group. Goldman Sachs Managed Futs Strat Instl has -6.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 32.0%. There is 5.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is -12.1% (0.0% domestic bond, -12.1% foreign bond and 0.0% convertible bond). Goldman Sachs Managed Futs Strat Instl has 74.8% of the portfolio in cash.

Assets Under Management

The fund has $45 million in total assets, which is below the $283 million average for the Systematic Trend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

GMSSX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Goldman Sachs Managed Futs Strat Instl expense ratio is high compared to funds in the Systematic Trend category. Goldman Sachs Managed Futs Strat Instl has an expense ratio of 0.80%, which is 61% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Goldman Sachs Managed Futs Strat Instl has a portfolio turnover rate of 529%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 228% for the Systematic Trend category.

Recently, in the month of August 2026, Goldman Sachs Managed Futs Strat Instl returned 2.6%, which earned it a grade of C, as the Systematic Trend category had an average return of 2.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Goldman Sachs Managed Futs Strat Instl has a trailing yield of 0.00%, which is below the 2.53% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Goldman Sachs Managed Futs Strat Instl Grades

Year to date, the fund has returned 9.8%, 0.6 percentage points worse than the category, which translates into a grade of C. The fund has returned 16.8% over the past year (grade of C), 0.9% over the past three years (grade of D) and 4.1% per year over the past five years (grade of D) and 3.3% per year over the past 10 years (grade of D).

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