1.     Account opening   

Any investor intending to subscribe initially or for additional Shares must complete an application form. If you do not have a copy of the relevant Fund application form or Fund Prospectus please contact your sales representative or European Shareholder Services. The application form together with payment instructions, and for institutional clients a list of authorised signatories on the account, must be sent to the following address:   

European Shareholder Services  
Goldman Sachs International  
Plumtree Court 
25 Shoe Lane 
London EC4A 4AU  
United Kingdom     

The Shareholder Services Agent may request that an investor provides additional information to substantiate any representation made by the investor in its application.    

A copy of the application form may also be faxed in advance to +(44) 20 7774 6367 with the original mailed immediately after. Please note further documentation may be required for anti-money laundering (“AML”) purposes. If further documentation is required, one of our team members or a representative of the Shareholder Services Agent will contact you. Please ensure that your contact details are provided on the application form.    

Please note that European Shareholder Services carries out pre-vetting on all investors which means that the original application form as well as all original AML documentation must be received by European Shareholder Services before the account can be opened.      

2.     Subscription  

Once an account has been opened, an investor wishing to subscribe initially or for additional Shares must complete a subscription form. Such application for a subscription of Shares must include:    

(a)   the monetary amount or the number of Shares the investor wishes to subscribe, and  
(b)    the Portfolio and the class from which Shares are to be subscribed.   

Investors should be aware that for certain Portfolios and/or classes of Shares, subscriptions may only be accepted in a monetary amount. Investors should refer to the description of each relevant Portfolio in the relevant Supplement in order to know whether such restriction applies.   

Applications not complying with the requirements of each Portfolio in terms of minimum investment may not be processes or be processed late due to the fact that an approval to deviate from the requirements of each Portfolio on this aspect needs to be obtained from the Board of Directors of the Umbrella Fund. 

The subscription of Shares may be subject to a sales charge being a percentage of the Net Asset Value of the Shares being subscribed, as indicated in the List of Share Classes for the relevant Portfolio. The actual amount of the sales charge is determined by the financial institution through which the subscription of Shares is made and is paid to such financial institution by the relevant Portfolio as remuneration for the intermediary activity of such financial institution.   

Before subscribing for Shares, investors should ask the Shareholder Services Agent or the financial institution through which the subscription of Shares is made whether a sales charge will apply to their subscription and the actual amount of that sales charge.   

Generally speaking, except during the initial offering period of a new Portfolio, the Umbrella Fund may offer Shares of each existing class in each existing Portfolio on any day that is a Dealing Day, unless otherwise stated in the relevant Supplement of a given Portfolio.  

A Dealing Day should be considered as a day on which subscriptions of Shares can be made in accordance with the Supplement of the relevant Portfolio. Please consult the relevant Supplement of a given Portfolio for the correct Dealing Day of the relevant Portfolio.  

For each Portfolio of the Umbrella Fund, subscription orders which are not received by the Registrar and Transfer Agent before the cut-off time, as specified under the relevant Portfolio’s description in the relevant Supplement, will be automatically processed on the next applicable Dealing Day. The purchase price for any subscription application will be the sum of the Net Asset Value of such Shares on the relevant Dealing Day plus any applicable sales charge. 

Investors should note that they will not know the actual purchase price of their Shares until their order has been fulfilled. 

Investors should also consider that whenever they subscribe for Shares directly to the Umbrella Fund in their own names instead of submitting their subscriptions through a distributor or other financial intermediaries, additional due diligence could be performed on them and this could lead to a delay in the account opening by the Board of Directors of the Umbrella Fund. 

Any Shareholder intending to redeem Shares must notify the Registrar and Transfer Agent  at the following address: 

CACEIS Bank, Luxembourg Branch 
5, allée Scheffer 
L-2520 Luxembourg 
Grand Duchy of Luxembourg 
Fax: +352 2460 5238

Such notice must include the following information:    

·       The Shareholder’s name, as it appears on the Shareholder’s account, his or her address and account number;    
·       The number of Shares of each class or amount of each Share class to be redeemed; and   
·       The bank details of the beneficiary of any redemption proceeds.   

The Registrar and Transfer Agent may request that the Shareholder provides additional information to substantiate any representation made by the Shareholder in the notice. The Registrar and Transfer Agent will reject any redemption notice that has not been completed to its satisfaction. Payments will only be made to the Shareholder of record and will only be made if all of the documentation required by the relevant anti-money laundering legislation in respect of the Shareholder has been received by the Registrar and Transfer Agent. No payments will be made to any third-party. 

A deferred sales charge may be imposed on redemptions of Shares which have not been previously subject to a sales charge at the time of their subscription, according to the List of Share Classes for the relevant Portfolio.   

The actual amount of the deferred sales charge (subject to any applicable maximum set out in the List of Share Classes for the relevant Portfolio), if any, will be determined by the Umbrella Fund or the Global Distributor.   

The Umbrella Fund or the Global Distributor, at its discretion and subject to applicable law and regulations, may on a negotiated basis enter into private arrangements with a holder or prospective holder of Shares to waive part or all of any deferred sales charge in respect of such Shares.   

For Shares subject to a deferred sales charge, the amount of the charge is determined as a percentage of the Net Asset Value of the Shares being redeemed on the relevant Valuation Day, unless otherwise specified in the List of Share Classes for the relevant Portfolio. The amount of any deferred sales charge to be paid will be retained by the Global Distributor.   

Generally, the Settlement Date is the third Business Day following the relevant valuation date for any redemption request that is submitted (within the cut-off time). Please note that the settlement cycle of the Sub-Fund may vary. Please consult the relevant supplement of a given Portfolio for the correct settlement cycle of the relevant Portfolio.    

The Umbrella Fund will pay the Shareholder redemption proceeds as determined in the relevant Portfolio’s description in the relevant Supplement. However, investors should be aware that different settlement procedures may apply in certain jurisdictions in which the Umbrella Fund is registered for public distribution, due to local constraints. Neither the Umbrella Fund, the Management Company, the Global Distributor, nor the Investment Manager is responsible for any delays or charges incurred at any receiving bank or settlement system. If, in specific circumstances, redemption proceeds cannot be paid within the terms as determined in the relevant Portfolio’s description in the relevant Supplement, the payment will be made as soon as reasonably practicable thereafter. Investors should therefore contact their local paying agent to know the exact timeframe applicable to the settlement of their redemption proceeds. 

The key risks depend on the Portfolio in which you have invested. Risks arising from your investment are disclosed in the Prospectus and in the relevant KID. 

Before any investment is made in a Portfolio, investors are urged to consult with their distributors, banks, brokers, etc. for a complete understanding of all the risks arising from their investments. 

Before making an investment decision with respect to Shares of any class in any Portfolio, prospective investors should carefully consider all of the information set out in the Prospectus and the Supplement relating to the relevant Portfolio, as well as their own personal circumstances. Prospective investors should have particular regard to, among other matters, the considerations set out in this section in combination with the considerations set out under the heading "Particular Risks of Investing in the Portfolio" in the relevant Supplement. The risk factors referred to therein, and on this website, alone or collectively, may reduce the return on the Shares of any Portfolio and could result in the loss of all or a proportion of a Shareholder’s investment in the Shares of any Portfolio. 

An investment in the Shares of any Portfolio is only suitable for investors who (either alone or in conjunction with an appropriate financial or other adviser) have sufficient knowledge, experience and access to professional advisors to make their own legal, tax, accounting and financial evaluation of the merits and risks of an investment in the Shares and who have sufficient resources to be able to bear any losses that may result therefrom. 

Investors can consult the past performances of the share-class in which they have invested to have an indication of how the share-class has performed since the inception date.  

However, past performances are for illustrative purposes and are not indicative of future results. The past performances of the Portfolios that have been launched for at least a full year since the date of the latest Prospectus are disclosed for each class or classes of Shares in the relevant KID issued for such class or classes of Shares, as applicable. 

To have access to past performances, connect to the abovementioned website, click on “GS Systematic Funds (UCITS)” under UCITS tab, then, click on the link to the Portfolio of interest, then click on the “Performance” tab at the top of the page. 

The way you can access procedures and arrangements relating to your rights as a Shareholder will depend on the specific rights in question, as described below. 

Redemption of shares

Please refer to b4) above on how to redeem your Shares. 

Right to receive dividend

The Umbrella Fund may issue Distributing Share classes and Accumulation Share classes within each Portfolio, as set out in each Supplement and in the List of Share Classes, for the relevant Portfolio. 

Accumulation Share classes capitalize their entire earnings whereas Distributing Share classes pay dividends. For Distributing Share classes, dividends, if any, will be declared and distributed on an annual basis. Moreover, interim dividends may be declared and distributed from time to time at a frequency decided by the Board of Directors of the Umbrella Fund in compliance with the conditions set forth by law. 

Unless otherwise specifically requested, dividends will be reinvested in further Shares within the same class of the same Portfolio and Shareholders will be advised of the details by a dividends statement. No sales charge will be imposed on the reinvestment of dividends or other distributions. To request the distribution in cash please contact:  

European Shareholder Services 
Goldman Sachs International 
Plumtree Court 
25 Shoe Lane 
London EC4A 4AU 
United Kingdom  
Tel: +44 (0)207 774 6366 
Email: ESSExternalQueries@ny.email.gs.com   

Dividends not claimed within five years of their due date will lapse and revert to the relevant Shares of the relevant class in the relevant Portfolio. To claim your dividend please ensure that the bank account details you have provided in your application form remain up-to-date. To update your account details please contact: 

European Shareholder Services 
Goldman Sachs International 
Plumtree Court 
25 Shoe Lane 
London EC4A 4AU 
United Kingdom  
Tel: +44 (0)207 774 6366 
Email: ESSExternalQueries@ny.email.gs.com   

No interest shall be paid on a distribution declared by the Umbrella Fund and kept by it at the disposal of its beneficiary. 

Voting rights and participation in respect of general meetings of Shareholders 

You may vote at each meeting representing the shares you hold by attending such meeting or by way of proxy, in accordance with the procedure, including relevant dates and deadlines, set out in the convening notice regarding the relevant meeting of Shareholders sent to your attention, which will also include the relevant proxy form.   

Shareholders representing at least one tenth of the share capital may request the addition of one or more items to the agenda of any general meeting of Shareholders. Such a request must be sent to the registered office of the Umbrella Fund by registered mail at least five days before the relevant meeting. 

Prospective investors’ attention is drawn to the fact that investors will only be able to fully exercise their investor rights directly against the Umbrella Fund, notably the right to participate in general shareholders’ meetings, if the investor is registered in their own name in the Shareholders’ register of the Umbrella Fund. In cases where an investor invests in the Umbrella Fund through an intermediary investing into the Umbrella Fund in the intermediary’s name but on behalf of the investor, it may not always be possible for the investor to exercise certain shareholder rights directly against the Umbrella Fund. Investors are advised to take advice on their rights.  

Information and documents available 

Please refer to questions d1) and d2) below on how to access information and documents regarding your investment. 

The Management Company has implemented a procedure to ensure appropriate handling and rapid resolution of customer complaints, which takes into account the interests of customers. 

The Management Company undertakes to handle a complaint received from a client in accordance with the following principles: 
·       transparency with regard to the client; 
·       free access to the complaint handling mechanism; 
·       objectivity; 
·       efficiency; 
·       response time adapted to the complexity of the complaint.   

1.1  Definition of a customer complaint 

 A complaint is the expression of a customer's dissatisfaction with a product or service provided or offered by Amundi Luxembourg in relation to the Umbrella Fund or a Portfolio. 

1.2 Procedure for submitting complaints 

The customer may lodge his or her complaint, free of charge, in the official national language of his or her choice and the communication must clearly indicate that it is a complaint. A complaint must be submitted in writing (by post or e-mail) by the customer in person or through his or her usual financial intermediary, for example: 

·       the adviser of his or her bank branch, or
·       the distributor, or
·       the sales agent of the portfolio management company in direct contact with the client.

The client should explain in detail the facts giving rise to his or her claim, attaching all relevant supporting documents.

The client may contact the customer service team of the Management Company either by e-mailing [ info@amundi.com ], or by post at the following address: 

Amundi Luxembourg S.A. 
Service Clients 
5, Allée Scheffer 
L-2520 Luxembourg 
Grand Duchy of Luxembourg 

Unless expressly disclosed in the relevant Supplement to the contrary, none of the Portfolios actively promote Sustainability Factors and do not maximize portfolio alignment with Sustainability Factors, however they remain exposed to Sustainability Risks. 

Unless expressly disclosed in the relevant Supplement to the contrary, none of the Portfolios integrate Sustainability Risks nor is the adverse impact of investments on Sustainability Factors considered in the investment process as their objective is to replicate as closely as possible the performance of an index or to be exposed synthetically to a strategy or a basket of strategies or indices that do not take into consideration such risks in their methodology. The investments underlying the Portfolios do not take into account the EU criteria for environmentally sustainable economic activities which are determined by the Regulation (EU) 2020/852. 

Prospective investors are advised to consult their own professional tax advisers in respect of the possible tax consequences of subscribing for, buying, holding, redeeming, converting or selling units under the laws of their country of citizenship, residence, domicile or incorporation.

Shareholders may obtain a copy of any of the above documents by contacting one of the below entities:   

European Shareholder Services 
Goldman Sachs International 
Plumtree Court 
25 Shoe Lane 
London EC4A 4AU 
United Kingdom  
Tel: +44 (0)207 774 6366 
email: ESSExternalQueries@ny.email.gs.com   

The Bank of New York Mellon SA/NV, Luxembourg branch 
Vertigo Building - Polaris 
2-4, rue Eugène Ruppert 
L-2453 Luxembourg 
Grand Duchy of Luxembourg   

between 10.00 a.m. and 4.00 p.m. Luxembourg time on any day that Luxembourg banks are open for regular business.  
Documents of the Umbrella Fund are available on the Umbrella Fund’s website https://www.gsfundsolutions.com/gs-systematic-funds/documents. 

The Net Asset Value per Share of each class shall be available at the registered office of the Umbrella Fund and published on a Bloomberg page on the Luxembourg and London Business Day following the relevant Valuation Day and shall be available on the Umbrella Fund’s website https://www.gsfundsolutions.com/gs-systematic-funds.    

A Net Asset Value may be calculated on days different from the applicable Valuation Day for each Portfolio with the exception of any Luxembourg banking holidays for the Shares of the Portfolios (the "Additional Net Asset Value"). Such Additional Net Asset Value is available for information purposes only. It is based on the previous available Net Asset Values with an adjustment for the expense accrual and is published on a Bloomberg page specified, for each Share class, in the List of Share Classes and on the Umbrella Fund’s website https://www.gsfundsolutions.com/gs-systematic-funds.    

To have access to past performances, connect to the abovementioned website, click on “GS Systematic Funds (UCITS)” under UCITS tab, then click on the name of the Portfolio of interest, then click on the “Share Classes” tab and on the “Performance” tab at the top of the page. 

Past performances are not necessarily indicative of future results. The past performances of the Portfolios that have been launched for at least a full year since the date of the latest Prospectus are disclosed for each class or classes of Shares in the relevant KID issued for such class or classes of Shares, as applicable. 

The Umbrella Fund has appointed
CACEIS Bank, Luxembourg Branch 
5, allée Scheffer 
L-2520 Luxembourg 
Grand Duchy of Luxembourg 
Fax: +352 2460 5238

The Umbrella Fund is performing the tasks set out in points b. to e. above.   

The Umbrella Fund has appointed Arendt Regulatory & Consulting S.A. to act as the point of contact for communicating with the various supervisory authorities (point f. of Article 92 of Directive 2009/65/EC of 13 July 2009, as amended).  

If you have any further questions that are not listed on this webpage, please feel free to reach out to the Umbrella Fund by sending your request to ESSExternalQueries@ny.email.gs.com. The Umbrella Fund will respond to your question(s) by email (or by post to your most recent address on file) within a reasonable timeframe in one of the official language(s) of your country, or in English, where acceptable.