Summary
- The Goldman Sachs Small/Mid Cap Growth Fund – Institutional Shares underperformed its benchmark, the Russell 2500 Growth Index (net), during the quarter.
- The S&P 500 Index increased by 10.94% (total return, in USD) in the second quarter of 2025.
- Despite an initial selloff prompted by concern regarding new US tariff policies, the market surged this quarter.
- Stock selection in Information Technology and Energy contributed the most to relative returns.
- Stock selection within Industrials and Materials detracted from relative returns.
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Market Overview
The S&P 500 ((SP500), (SPX)) Index increased by 10.94% (total return, in USD) in the second quarter of 2025, whereas the Russell 2000 Index increased by 8.50% (total return, in USD). Despite an initial selloff prompted by concern regarding new US tariff
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