The GHYB issuer, Goldman Sachs, focuses on achieving its investment objective primarily by investing a minimum of 80% of its assets in securities listed in its underlying index. This index, comprised of high yield corporate bonds denominated in U.S. dollars, is meticulously constructed and managed by FTSE Fixed Income LLC in collaboration with Goldman Sachs Asset Management, L.P. The index's criteria include liquidity and fundamental screening, ensuring that the included bonds meet specific quality standards despite being below investment grade, commonly known as junk bonds. The index comprises 863 constituents as of November 30, 2023, with a weighted average maturity of 4.82 years. The investment approach of the fund doesn't follow traditional active management strategies but rather tracks the index closely. The index construction process involves defining a universe of potential index constituents based on criteria applied to the Reference Index and then applying a fundamental screen to select eligible securities. Rebalancing occurs monthly and quarterly to accommodate changes in maturities, duration, and constituent updates based on fundamental factors. The fund adopts a representative sampling strategy, investing in securities that collectively mirror the investment profile of the index. It may also concentrate its investments in specific industries if the index is similarly concentrated, allowing for flexibility while maintaining alignment with the index's characteristics.
The GHYB issuer, First Goldman Sachs Fund, focuses on achieving its investment objective primarily by investing a minimum of 80% of its assets in securities listed in its underlying index. This index, comprised of high yield corporate bonds denominated in U.S. dollars, is meticulously constructed and managed by FTSE Fixed Income LLC in collaboration with Goldman Sachs Asset Management, L.P. The index's criteria include liquidity and fundamental screening, ensuring that the included bonds meet specific quality standards despite being below investment grade, commonly known as junk bonds. The index comprises 863 constituents as of November 30, 2023, with a weighted average maturity of 4.82 years. The investment approach of the fund doesn't follow traditional active management strategies but rather tracks the index closely. The index construction process involves defining a universe of potential index constituents based on criteria applied to the Reference Index and then applying a fundamental screen to select eligible securities. Rebalancing occurs monthly and quarterly to accommodate changes in maturities, duration, and constituent updates based on fundamental factors. The fund adopts a representative sampling strategy, investing in securities that collectively mirror the investment profile of the index. It may also concentrate its investments in specific industries if the index is similarly concentrated, allowing for flexibility while maintaining alignment with the index's characteristics.
GHYB Tracking, as a constituent of the Goldman Sachs, is dedicated to closely following the performance of its underlying index. The fund achieves this objective by investing at least 80% of its assets in securities included in the index, which consists of high yield corporate bonds denominated in U.S. dollars. By adhering to a rules-based methodology developed in collaboration with FTSE Fixed Income LLC and Goldman Sachs Asset Management, L.P., GHYB Tracking ensures that its portfolio mirrors the composition and characteristics of the index. This meticulous approach to investment management allows the fund to track the index's movements accurately, providing investors with exposure to the performance of high yield bonds while minimizing tracking error. With regular rebalancing and adjustments to account for changes in the index constituents and fundamental factors, GHYB Tracking strives to deliver returns that closely match those of its benchmark index over time.
GHYB Correlation, a component of the Goldman Sachs, aims to maintain a strong correlation with its underlying index. The fund achieves this by investing at least 80% of its assets in securities included in the index, which consists of high yield corporate bonds denominated in U.S. dollars. Through a meticulous selection process and adherence to the index's criteria, GHYB Correlation ensures that its portfolio closely mirrors the composition and characteristics of the benchmark index. By closely tracking the index's movements, the fund seeks to achieve a high degree of correlation with its performance, thereby providing investors with an investment vehicle that effectively captures the returns of the high yield bond market. Through regular monitoring and adjustments to the portfolio, GHYB Correlation aims to minimize tracking error and maintain a consistent correlation with the index over time, offering investors a reliable means of accessing the high yield bond market's potential returns.
GHYB Sector, a key component of the Goldman Sachs, is designed to provide investors with exposure to specific sectors within the high yield bond market. The fund achieves this by investing in securities included in its underlying index, which consists of high yield corporate bonds denominated in U.S. dollars. GHYB Sector focuses on capturing the performance of select sectors, such as financials, industrials, and utilities, by closely tracking the index's sectoral allocations. Through a disciplined investment approach and adherence to the index's sector weightings, the fund aims to replicate the performance of these sectors within the high yield bond universe. By concentrating investments in particular sectors in line with the index's composition, GHYB Sector offers investors targeted exposure to sectors exhibiting potential for strong performance, while maintaining diversification across the broader high yield bond market. Through regular monitoring and rebalancing, the fund aims to optimize sector allocation and capture sector-specific opportunities, thereby providing investors with a specialized investment strategy tailored to their sectoral preferences and investment objectives.
GHYB Exposure, integral to the Goldman Sachs, offers investors a comprehensive avenue to access the high yield bond market. By investing at least 80% of its assets in securities included in its underlying index, GHYB Exposure ensures robust exposure to high yield corporate bonds denominated in U.S. dollars. This strategic approach allows investors to tap into the potential returns and income opportunities presented by high yield bonds, which are typically rated below investment grade. With a focus on replicating the index's composition and characteristics, GHYB Exposure diligently tracks the performance of the high yield bond market, offering investors a convenient vehicle to participate in this asset class. Through regular monitoring and adjustments to the portfolio, the fund aims to provide investors with consistent exposure to the high yield bond market's potential returns, while managing risk and maximizing diversification. GHYB Exposure serves as a reliable option for investors seeking exposure to high yield bonds within a structured and disciplined investment framework.
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