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Goldman Sachs Commodity Index (GSCI)

Overview of Goldman Sachs Commodity Index (GSCI)

The Goldman Sachs Commodity Index (GSCI) is a composite index of commodity sector returns, representing an unleveraged, long-only investment in commodity futures that is broadly diversified across the spectrum of commodities. The returns are calculated on a fully-collateralized basis with full reinvestment. The combination of these attributes provides investors with a representative and realistic picture of realizable returns attainable in the commodities markets.

Individual components qualify for inclusion in the GSCI on the basis of liquidity and are weighted by their respective world production quantities. The principles behind the construction of the index are public and designed to allow easy and cost-efficient investment implementation.

Goldman Sachs Commodity Index Current Weightings (July 15, 2005):

Table 1: GSCI Components and Dollar Weights (%)(July 15, 2005)
Energy

 
76.26
Crude Oil 29.55
Brent Crude Oil 14.53
Unleaded Gas 8.45
Heating Oil 8.78
GasOil 4.95
Natural Gas 9.98
Industrial
Metals
6.18
Aluminum 2.56
Copper 2.23
Lead 0.23
Nickel 0.70
Zinc 0.46
Preci.
Metals
1.74
Gold 1.56
Silver 0.18
Agri.

 
11.16
Wheat 2.51
Red Wheat 0.90
Corn 2.74
Soybe. 1.92
Cotton 0.96
Sugar 1.23
Coffee 0.70
Cocoa 0.19
Live-stock

 
4.66
Live Cattle 2.51
Feeder Cattle 0.67
Lean Hogs 1.47

How to Invest in Goldman Sachs Commodity Index (GSCI)

Possible means of investing in Goldman Sachs Commodity Index include the purchase of GSCI-related instruments, such as the GSCI futures contract traded on the Chicago Mercantile Exchange (CME) or over-the-counter derivatives, or the direct purchase of the underlying futures contracts.

Investors may also purchase Oppenheimer Real Asset Fund, which tries to mimic the returns of GSCI.

For more information about the Goldman Sachs Commodity Index, please call:
New York (212) 902-7222
London (44) 0 207 774 6232
Singapore (65) 6889 2209

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