Fund Evaluator:

Goldman Sachs China Equity Inv Overview

Goldman Sachs China Equity Inv (GSAEX) is an actively managed International Equity Greater China Region fund. Goldman Sachs launched the fund in 2014.

The investment seeks long-term capital appreciation. The fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes ("Net Assets") in a diversified portfolio of equity investments in issuers economically tied to China. The manager expects to invest primarily in common stocks, but may also invest in depositary receipts. This may include securities that trade in local Chinese, Hong Kong, or other foreign exchanges and securities that trade in Renminbi (“RMB”), the official currency of China.

About Goldman Sachs China Equity Inv (GSAEX)

There are 3 members of the management team with an average tenure of 5.71 years: Basak Yavuz (2019), Nathan Lin (2023), Christine Pu (2019). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI China All Shares NR USD index with a weighting of 100%. Goldman Sachs China Equity Inv has 80 securities in its portfolio. The top 10 holdings constitute 38.3% 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 China Equity Inv is part of the Equity global asset class and is within the International Equity fund group. Goldman Sachs China Equity Inv has 98.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.2%. There is 98.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Goldman Sachs China Equity Inv has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $236 million in total assets, which is below the $88 million average for the Greater China Region 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.

GSAEX 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 China Equity Inv expense ratio is high compared to funds in the Greater China Region category. Goldman Sachs China Equity Inv has an expense ratio of 1.21%, which is 5% lower than its category average, making the fund expense ratio grade a C. 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 China Equity Inv has a portfolio turnover rate of 63%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 73% for the Greater China Region category.

Recently, in the month of June 2026, Goldman Sachs China Equity Inv returned -1.1%, which earned it a grade of D, as the Greater China Region category had an average return of 1.4%. 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 China Equity Inv has a trailing yield of 1.44%, which is below the 1.81% 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 China Equity Inv Grades

Year to date, the fund has returned 3.5%, 9.9 percentage points worse than the category, which translates into a grade of C. The fund has returned 18.3% over the past year (grade of D), 12.3% over the past three years (grade of D) and -6.4% per year over the past five years (grade of D) and 5.7% per year over the past 10 years (grade of D).

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