Goldman Sachs Asset Management (“GSAM”) announces that the NAVs for the Goldman Sachs MLP Income Opportunities Fund (NYSE: GMZ) and the Goldman Sachs MLP & Energy Renaissance Fund (NYSE: GER) (together, the “Funds”) were incorrect due to an administrative error. Each Fund’s NAV was impacted on March 9, 2020. Below are the originally reported and corrected NAVs for each Fund:
Goldman Sachs Income
Goldman Sachs MLP & Energy
Reported March 9, 2020 NAV
Corrected March 9, 2020 NAV
Portfolio holdings as of December 31, 2019, as well as additional information regarding the Fund, can be accessed through the GSAM Closed-End Fund landing page at www.GSAMFUNDS.com/cef.
Goldman Sachs MLP Income Opportunities Fund
Goldman Sachs MLP Income Opportunities Fund is a non-diversified, closed-end management investment company managed by GSAM’s Energy & Infrastructure Team, which is among the industry’s largest MLP investment groups. The Fund began trading on the NYSE on November 26, 2013. The Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The Fund invests primarily in master limited partnership (“MLP”) investments, a significant portion of which deliver midstream infrastructure to support growing hydrocarbon extraction. These include investments in pipeline operators, natural gas processors, natural gas liquids fractionators and storage facilities.
Goldman Sachs MLP & Energy Renaissance Fund
Goldman Sachs MLP and Energy Renaissance Fund is a non-diversified, closed-end management investment company managed by GSAM’s Energy & Infrastructure Team, which is among the industry’s largest MLP investment groups. The Fund began trading on the NYSE on September 26, 2014. The Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The Fund invests primarily in MLPs and other energy investments. The Fund currently expects to concentrate its investments in the energy sector, with an emphasis on midstream MLP investments. The Fund invests across the energy value chain, including upstream, midstream and downstream investments.
About Goldman Sachs Asset Management, L.P.
GSAM is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS) and supervises $1.69 trillion as of December 31, 2019.1 GSAM has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
1Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion.
Shares of closed-end investment companies frequently trade at a discount from their net asset value (“NAV”), which may increase investors’ risk of loss. At the time of sale, an investor’s shares may have a market price that is above or below NAV, and may be worth more or less than the original investment. There is no assurance that the Fund will meet its investment objective. Past performance does not guarantee future results. Investments in securities of MLPs involve risks that differ from investments in common stock, including among others risks related to limited control and limited rights to vote on matters affecting MLPs, potential conflicts of interest risk, cash flow risks, dilution risks and trading risks.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. The Fund has completed its initial public offering. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund. An investment in the Fund is not appropriate for all investors, and the Fund is not intended to be a complete investment program. Investors should carefully review and consider the Fund’s investment objective, risks, charges and expenses before investing.
Compliance Code: 031020.MF.IP.OTU
Date of First Use: March 10, 2020