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SESPX

SSgA Enhanced Small Cap Fund - Class N

Closed on 07 August 2014

This fund is closed to new investors.

Fund Objective

The Fund's investment objective is to maximize total return through investment primarily in small capitalization equity securities.

Fund Information

As of 09/17/2014
Ticker SymbolSESPX
Primary BenchmarkRussell 2000 Index
CUSIP784924458
Gross Expense Ratio

The gross expense ratio is the fund’s total annual operating expenses ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund’s most recent prospectus.

1.49%
Net Expense Ratio

The fund's investment advisor is contractually obligated until December 31, 2015 to waive its management fee and/or to reimburse the fund for expenses to the extent that total expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees, and distribution, shareholder servicing, and sub-transfer agency fees) exceed 0.50% of average daily net assets on an annual basis.

Includes Acquired Fund Fees and Expenses ("AFFE") of 0.14%. AFFE reflect the Fund's pro rata share of the fees and expenses incurred indirectly through its ownership in other investment companies, such as business development companies ("BDCs"). BDC expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by the Fund shareholders and are not used to calculate the Fund's net asset value. They have no impact on the costs associated with fund operations.

0.89%
Inception Date03/22/2005
Investment ManagerSSgA Funds Management, Inc.
Management TeamGlobal Enhanced Equity Team
DistributorState Street Global Markets, LLC
Distribution FrequencyAnnually

Fund Characteristics

As of 08/31/2014
Dividend Yield

Dividend Yield measures the weighted average of gross dividend yield of stocks in the fund.

1.46%
Earnings Growth 5 Year

The Estimated 3-5 Year EPS Growth 

Based on the underlying holdings of the fund. The actual earnings estimates for the underlying holdings are provided by FactSet, First Call, I/B/E/S Consensus, and Reuters and are used to calculate a mean 3-5 year EPS growth rate estimate.

15.11%
FY 1 P/E Ratio

FY 1 P/E Ratio

Closing price divided by the sum of the forecasted fiscal year earnings per share.

16.07
Number of Holdings607
Price/Book Ratio

Price/Book Ratio

Current market price of the stock divided by the most recent reported book value for the prior fiscal year.

1.91
Weighted Average Market Cap$1,482.58 M

30 DAY SEC YIELD

As of 09/16/2014
30 Day SEC Yield

30 Day SEC Yield (Standardized Yield) 

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price.

0.61%

Fund Net Asset Value

NAV

Market value of a mutual fund's and ETF's total assets, minus liabilities, divided by the number of shares outstanding

As of 09/16/2014
1 Day Average Yield (subsidized)0.00%
Percent Change0.42%
Price$16.86
Price Change$0.07
Shares Outstanding1.82 M
Total Net Assets$30.74 M

Fund Documents

Fund Performance

NAV Month End
As of 08/31/2014
NAV Quarter End
As of 06/30/2014
1 Month 4.77% 4.41%
QTD -0.62% 2.25%
YTD 3.83% 4.47%
1 Year 20.71% 25.45%
3 Year 20.55% 16.24%
5 Year 19.39% 22.33%
10 Year N/A N/A
Inception 
03/22/2005
7.94% 8.16%

Performance quoted represents past performance, which is no guarantee of future results.  Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold.  Current performance may be higher or lower than that quoted.

Purchase Information

Minimum Investments
Initial $1,000.00
Additional $100.00
Initial IRA $250.00
Additional IRA $100.00
Additional AIP $100.00

Brokerage Availability
SSgA Funds are available through most major broker/dealer and supermarket platforms. If you are an investment advisor and have questions regarding platform availability, please call 800-997-7327. Otherwise, please call 877-521-4083.

To Purchase by wire
You may make initial or subsequent investments by wiring federal funds to State Street, as Transfer Agent by:

1. Telephoning the Customer Service Department at 1-800-647-7327 between 8:00 a.m. and 4:00 p.m., Eastern Time, and stating: (a) your account registration number, address and social security or tax identification number, (b) the name of the fund in which the investment is to be made and the account number, and (c) the exact amount being wired.

2. Instructing the wiring bank to wire federal funds to:
State Street Bank and Trust Co.
225 Franklin Street, Boston, MA 02110
ABA# 0110-0002-8
DDA#9904-631-0
Attn: SSGA (SSgA Enhanced Small Cap Fund - Class N)
Account Number and Registration
Dollar Amount Per Account (if one wire is to cover more than one purchase)

Correspondence Information
SSgA Funds
One Lincoln Street
Boston, MA 02111-2900
1-800-647-7327

Performance Chart

Annualized
As of1 MonthQTDYTD1 Year3 Year5 Year10 YearSince
Inception
03/22/2005
Month End
Fund at NAV08/31/20144.77%-0.62%3.83%20.71%20.55%19.39%N/A7.94%
Russell 2000 Index08/31/20144.96%-1.39%1.75%17.68%19.00%17.03%N/A8.41%
Quarter End
Fund at NAV06/30/20144.41%2.25%4.47%25.45%16.24%22.33%N/A8.16%
Russell 2000 Index06/30/20145.32%2.05%3.19%23.64%14.57%20.21%N/A8.79%

Performance quoted represents past performance, which is no guarantee of future results.  Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold.  Current performance may be higher or lower than that quoted.

Gross Expense Ratio: 1.49%

Net Expense Ratio: 0.89%

Performance Graphs

Month End as of 08/31/2014

Fund Inception Date: 03/22/2005

Index Inception Date: 03/21/2005

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Quarter End as of 06/30/2014

Fund Inception Date: 03/22/2005

Index Inception Date: 03/21/2005

<performance fundPerfNavName="Fund at NAV" bmarkName="Russell 2000 Index"><funds><field>1 Month</field><fund>4.41</fund><index>5.32</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>2.25</fund><index>2.05</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>4.47</fund><index>3.19</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>25.45</fund><index>23.64</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>16.24</fund><index>14.57</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>22.33</fund><index>20.21</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>8.16</fund><index>8.79</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of  08/31/2014
Name Weight
Graphic Packaging Holding Company 0.68 %
CNO Financial Group Inc. 0.67 %
Western Refining Inc. 0.63 %
Deluxe Corporation 0.62 %
MGIC Investment Corporation 0.62 %
Helix Energy Solutions Group Inc. 0.61 %
Verint Systems Inc. 0.60 %
Jack in the Box Inc. 0.59 %
Clearwater Paper Corporation 0.58 %
Strategic Hotels & Resorts Inc. 0.58 %
Download All Holdings XLS

Fund Sector Allocation

As of 08/31/2014
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Not FDIC Insured * No Bank Guarantee * May Lose Value

Prior to June 20, 2014, the SSgA Enhanced Small Cap Fund - Class N was known as SSgA Enhanced Small Cap Fund.

Unless otherwise noted all information contained herein is that of the SSgA Enhanced Small Cap Fund - Class N.

The Russell 2000 Index is unmanaged and can not be invested in directly. The Index is composed of the 2,000 smallest securities in the Russell 3000 Index, representing approximately 11% of the Russell 3000 total market capitalization.

The Russell 2000 Index is a trademark of the Frank Russell Company.  RussellTM  is a trademark of the Frank Russell Company.

 

Global Enhanced Equity Team

Chief Investment Officer Ted Gekas Senior Managing Director Show Bio

Ted is a Senior Managing Director of State Street Global Advisors, and CIO of Active Quantitative Equities. Ted joined SSGA in 1995 as a portfolio manager and has since held several related positions. As a PM and then Head of US Structured Products (beta products), he played key roles in the formation and launch of the Select Sector SPDR Trust (ETFs), and the creation of tax-optimized rebalancing strategies. As a PM in Active Equities he was Strategy Leader for the Large Cap Core US Active Equity Strategies. As a founding member of the Enhanced Equities team, then Head of the Global Enhanced Equities Group he launched our first Global Developed and Emerging Markets Enhanced Equities products.

Before joining SSgA, Ted worked at Citibank Global Asset Management developing asset allocation and forecasting models for the global equity, debt and cash markets. Prior to this, he was employed at the IBM Retirement Fund as a Quantitative Portfolio Manager, managing EAFE equity indexed and alpha-tilted funds.

Ted holds MBAs in Finance and International Business from New York University and Melbourne University (Australia) and a BS in Industrial Engineering from the University of Wisconsin.

Business Strategy and Execution Brett D. Collins Vice President Show Bio

Brett is a Vice President of State Street Global Advisors, responsible for business strategy and execution in the firm's Investment Solutions Group. Previously, he was a member of SSgA's Global Strategy Group, working with senior management to help establish the strategic direction of the organization and evaluate potential growth opportunities. He has held a number of leadership and investment roles at SSgA, including Head of North American Product Engineering, and an Equity Portfolio Strategist role based in Boston and London. Brett has broad experience managing and developing investment strategies across asset classes, working closely with a global client base.

Prior to joining SSgA, Brett was a member of the Emerging Markets Fixed Income Portfolio Management team at Nomura Corporate Research and Asset Management. He was also an Analyst in the Tax Exempt Bond Group at Gannett, Welsh & Kotler. Brett has been working in the investment management industry since 1993.

Brett holds an MBA degree from Columbia Business School with a concentration in Finance and International Business and a BS in Finance/Investments from Babson College. He earned the Chartered Financial Analyst designation and is a member of the CFA Institute and Boston Security Analysts Society.

Portfolio Strategist Scott P. Conlon Vice President Show Bio

Scott is a Vice President of State Street Global Advisors and Portfolio Strategist in the firm's Global Equity Beta Solutions group. He is responsible for research, portfolio management, product development and positioning for Advanced Beta equity strategies within this group.

Previously, he spent several years as a member of SSgA's Active Quantitative Equity group where his investment experience encompassed a broad range of quantitative disciplines covering developed market and emerging market equities. Prior to joining SSgA, he worked for Merrill Lynch Investment Managers in the institutional short-term fixed income group. Scott has worked in the investment management industry since 1999.

Scott holds a MS in Finance degree from the Wallace E. Carroll School of Management at Boston College and a BS in Finance from Bentley College. He earned the Chartered Financial Analyst designation, and is a member of the CFA Institute and the Boston Security Analysts Society.

Head of Quantitative Equities Jenya Emets Vice President Show Bio

Jenya Emets is a Vice President of State Street Global Advisors and Head of Quantitative Equity in Europe. Her responsibilities include overseeing portfolio management of European mandates and contributing to research and product development for Active Quantitative Equity products.

Prior to that, Jenya was a Senior Investment Manager in the Enhanced Equity team of State Street Global Advisors (SSgA), based in London. She was responsible for managing global , international and regional enhanced equity portfolios.

Before to joining the enhanced equity team, Jenya was a Product Engineer within the European Active Equity team at SSgA. In addition to co-managing SSgA Europe's SRI Alpha Strategy, she provided client support on investment issues relating to SSgA's active equity strategies, and was also involved in product development and research for new investment strategies.

Jenya joined SSgA in Tokyo in 2002 as a member of the marketing team and later took on a Product Engineering role covering Japanese active equities. Previously, she worked for State Street Corporation's International Management Group in Tokyo where she was involved in strategic planning and global client relationship management across all State Street's businesses in Japan.

Jenya holds Bachelor of Arts and Master of Arts degrees in Japanese Studies & Economics from Moscow University, and a Master of Arts in Economics and Finance from Japan's Hitotsubashi University.

Jenya has earned the Chartered Financial Analyst designation and is a member of the CFA Institute.

Vice President Kent A. Finkle Portfolio Manager Show Bio
Kent is a Vice President of State Street Global Advisors and a Portfolio Manager in the Enhanced International Equity Group. Kent worked previously in the SSgA Information Technology team and was a Liaison to Global Enhanced Equity. Prior to joining State Street in 1998, Kent was a programmer/analyst in the accounting department of First Albany Corporation, a regional stock brokerage firm, and worked for the Ayco American Express Company, one of the nation's leading providers of financial planning for corporate executives and high-net-worth individuals. Kent has written educational software for a number of college textbooks of economics, accounting, and finance published by Harcourt, Inc.. He has a BS in Communications from Rensselaer Polytechnic Institute and an MBA from Cornell University.
Portfolio Manager Gary Lowe Vice President Show Bio

Gary is a Vice President of State Street Global Advisors. Gary is a portfolio manager and the Head of Process Management and Integration for the Active Quantitative Equity Team. As a portfolio manager Gary manages developed world and emerging markets portfolios. Gary manages a team dedicated to enriching the portfolio management process. Gary's team is also involved in the development of the Active Quantitative Equity's global research database.

Gary joined SSgA in 1998 as a Quantitative Research Analyst in SSgA's Advanced Research Center. In 1999 Gary joined the Global Enhanced Equity Group as a portfolio manager. As a member of the Global Enhanced Equity Group, Gary managed US large and small cap portfolios, global portfolios and emerging markets portfolios.

Gary earned a Bachelor of Science in Mathematics from Plymouth State University and a Master of Science degree in Statistics from the University of Massachusetts. Gary earned the Chartered Financial Analyst designation.

Head of ETF Investment Strategy David B. Mazza Vice President Show Bio

David is a Vice President of State Street Global Advisors and the Head of Research for SPDR ETFs and SSgA Funds. In this capacity, he manages a team of Product and Sales Strategists who generate strategic and tactical investment opportunities. In addition, David develops market outlooks and investment themes that integrate SSgA's thought leadership from across different investment disciplines. He also authors whitepapers on various market and ETF-related topics.

Prior to this role, David was a member of the firm's Global Enhanced Equity Group, responsible for research, portfolio management and product positioning across multiple investment strategies. David began his career in the firm's Charitable Asset Management Group, where he supported the investment management and administration of planned gifts.

David received his BA in Political Science and Philosophy from Boston College. He is a member of the Board of Directors at the Notre Dame Education Center in Boston, MA. In addition, he serves on the Lawrence Academy Alumni Council and is a Co-Chair of the Boston College 1863 Society.

Portfolio Manager John O'Connell Vice President Show Bio
John O'Connell is a Vice President of State Street Global Advisors and a Portfolio Manager in the Global Enhanced Equity Group. He joined this group in April 2000. Prior to this, John worked as an Investment Associate in the Global Structured Products Group. John received his MBA from Boston University. He graduated from the University of Rochester with a BA in History.
Head of Portfolio Management Simon Roe Managing Director Show Bio

Simon is a Managing Director of SSgA and Head of Quantitative Equity Core Portfolio Management in the Active Quantitative Equities Group. His responsibilities include overseeing portfolio management in traditional cap-weighted core quantitative funds across the risk spectrum and contributing to research and product development for Active Quantitative Equity products.

Previously, Simon worked at Merrill Lynch Investment Managers in the Quantitative Advisers team where he managed option based protected funds and quantitative asset allocation funds. Before this, Simon was a Senior Consultant for Barra International. He has been working in the investment management industry since 1993.

Simon holds a BSc in Banking and International Finance from the City University Business School, London. He earned the Chartered Financial Analysts designation and is a member of the CFA Institute and the Boston Security Analysts Society.

Russell 2000 Index

N/A

© 2014 State Street Corporation. All Rights Reserved.

© 2014 State Street Corporation. All Rights Reserved.

© 2014 State Street Corporation. All Rights Reserved.

Important Risk Information

Small company issues can be subject to increased volatility and considerable price fluctuations.

Investments in small-sized companies may involve greater risks than in those of larger, better known companies. Returns on investments in stocks of small companies could trail the returns on investments in stocks of larger companies.

These investments may have difficulty in liquidating an investment position without taking a significant discount from current market value, which can be a significant problem with certain lightly traded securities.

Risk associated with equity investing include stock values which may fluctuate in response to the activities of individual companies and general market and economic conditions.

Derivative investments may involve risks such as potential illiquidity of the markets and additional risk of loss of principal.