Risk considerations
The economic and market forecasts contained herein are for informational purposes only as of the date of this webpage. There is no guarantee that predictions will be achieved. Please see additional disclosures at the end of this webpage.
Municipal securities are subject to credit risk, default risk, interest rate risk, and certain additional risks. High-yielding, lower-rated securities have greater price volatility and greater credit risk than higher-rated bonds. Investments in fixed income securities are subject to credit risk and interest rate risk. Bond prices change inversely to changes in interest rates. Therefore, if interest rates generally rise, bond prices may fall. Credit risk is the risk that an issuer will default on interest and principal payments. All fixed income investments may be worth less than their original cost at redemption or maturity. Income from municipal securities is generally free of federal and state taxes for residents of the issuing state. Interest income is tax-free, but any capital gains are taxable. Some investors' income may be subject to the federal alternative minimum tax (AMT).
All investments involve risk, including the possible loss of principal. Each asset class carries unique risks. Bonds and bond investments involve interest rate risk. When interest rates rise, bond prices fall. Stocks are more volatile and carry more risk than bonds. Small-cap stocks involve greater risks than those typically associated with large companies. International securities involve special risks, including currency, political, economic, and market risks. These risks are heightened with emerging market securities, which may be less liquid and more volatile.
You should evaluate these risks carefully before making any investment decisions.
These materials do not constitute investment advice and are provided solely for the purpose of not forming the primary basis for any investment decision of any person or plan, and Goldman Sachs is not a fiduciary with respect to any person or plan by reason of providing the materials. Materials or contents described herein. Plan fiduciaries should consider their own circumstances when evaluating potential courses of investment action.
Index benchmark
Index is not managed. Index numbers reflect the reinvestment of all earnings or dividends, if applicable, but do not reflect the deduction of fees and expenses that reduce returns. Investors cannot invest directly in an index.
The indices referenced herein are well-known, readily recognized by investors, and based in part on industry practice, are appropriate for evaluating the investments discussed herein or the broader market. It was selected because it reflects an index that the investment manager believes provides a benchmark. . Excluding “failed” or shuttered hedge funds may mean that each index generally overestimates hedge fund performance.
disclosure
While some information has been obtained from sources believed to be reliable, its accuracy, completeness, or fairness cannot be guaranteed. We rely on and assume, without independent verification, the accuracy and completeness of all information available from public sources.
Past performance is no guarantee of future results and results may vary. The value of investments and the income received from investments will fluctuate and may go down as well as up. Loss of principal may occur.
Unless expressly agreed between you and Goldman Sachs (typically through certain services provided only to private wealth management clients), Goldman Sachs will not provide you with legal, tax, or accounting information. We do not offer advice. The U.S. tax statements contained in this web page are not intended or written for use, and are not intended to be used for the purpose of avoiding penalties imposed on the associated taxpayer. I can not do it. Notwithstanding anything to the contrary on this page, you agree to the U.S. federal and state income tax treatment and tax structure of any transaction, except as necessary to enable compliance with applicable securities laws. , and any materials of any kind (including taxes) to anyone. These are provided by Goldman Sachs to you with respect to such tax treatments and structures without imposing any restrictions of any kind. Investors acknowledge that they must consider their unique circumstances when determining the tax consequences for them and that tax laws may change in the future or retroactively, and that they We strongly recommend that you consult your own tax advisor regarding your strategy. , investing or trading.
This material does not constitute an offer or solicitation to any location or person that is unauthorized or illegal in any jurisdiction.
This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell any security. This material is not intended to be used as a general guide to investing or as a source of specific investment recommendations, and is not intended to be used as a general guide to investing or as a source of specific investment recommendations, and is not intended to be used as a guide to how a client's account should or should be treated as an appropriate investment strategy. No recommendation is made, implicit or explicit, as to how the information may be used. Depends on the customer's investment objectives.
The economic and market forecasts contained herein reflect a series of assumptions and judgments as of the date of this webpage and are subject to change without notice. These forecasts do not take into account the specific investment objectives, limitations, tax and financial situation, or other needs of any particular customer. Actual data will vary and may not be reflected here. These forecasts are subject to a high degree of uncertainty and may affect actual results. Therefore, these predictions should be viewed as merely representative of the wide range of possible outcomes. These forecasts are estimated based on assumptions and are subject to material revision and may change materially as economic and market conditions change. Goldman Sachs does not undertake any obligation to provide updates or changes to these forecasts. Case studies and examples are for illustrative purposes only.
The views and opinions expressed are for informational purposes only and do not constitute a recommendation by Goldman Sachs Asset Management to buy, sell, or hold any security. The views and opinions expressed are as of the date of this webpage and are subject to change. It should not be construed as investment advice.
While some information has been obtained from sources believed to be reliable, its accuracy, completeness, or fairness cannot be guaranteed. We rely on and assume, without independent verification, the accuracy and completeness of all information available from public sources.
The portfolio holdings and/or allocations listed above are as of the date indicated and may not represent future investments. Holdings and/or allocations shown do not represent all of the portfolio's investments. Future investments may or may not be profitable.
Reference to a particular company or security is not a recommendation to buy, sell, hold, or invest directly in that company or its securities. It should not be assumed that investment decisions made in the future will be profitable or equal the performance of the securities described on this page.
First use date: June 9, 2023. 321379-OTU-1812886.
