Home   »   Mutual Funds : SSGA Enhanced Small Cap Fund - Class N (SESPX)

SSGA Enhanced Small Cap Fund - Class N

The Class N Share Class is closed to new accounts as of August 7, 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 11/29/2015
Ticker SymbolSESPX
Primary BenchmarkRussell 2000 Index
Gross Expense Ratio

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

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.

Inception Date03/22/2005
Investment ManagerSSGA Funds Management, Inc.
Management TeamActive Quantitative Equities
DistributorState Street Global Markets, LLC
Distribution FrequencyAnnually

Fund Characteristics

As of 10/31/2015
Dividend Yield

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

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.

Number of Holdings558
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.

Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

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

Weighted Average Market Cap$1,551.94 M


As of 11/25/2015
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.


Fund Net Asset Value


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

As of 11/25/2015
Percent Change0.72%
Price Change$0.11
Shares Outstanding2.18 M
Total Net Assets$33.51 M

Fund Documents

Fund Performance

NAV Month End
As of 10/31/2015
NAV Quarter End
As of 09/30/2015
1 Month 5.87% -4.52%
QTD 5.87% -10.56%
YTD -0.93% -6.42%
1 Year 2.78% 3.68%
3 Year 15.61% 12.80%
5 Year 14.28% 14.09%
10 Year 7.10% 6.29%
7.32% 6.80%

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
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

Performance Chart

As of1 MonthQTDYTD1 Year3 Year5 Year10 YearSince
Month End
Fund at NAV10/31/20155.87%5.87%-0.93%2.78%15.61%14.28%7.10%7.32%
Russell 2000 Index10/31/20155.63%5.63%-2.53%0.34%13.90%12.06%7.47%7.50%
Quarter End
Fund at NAV09/30/2015-4.52%-10.56%-6.42%3.68%12.80%14.09%6.29%6.80%
Russell 2000 Index09/30/2015-4.91%-11.92%-7.73%1.25%11.02%11.73%6.55%7.00%

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: 1.41%

Net Expense Ratio: 0.75%

Performance Graphs

Month End as of 10/31/2015

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>5.87</fund><index>5.63</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>5.87</fund><index>5.63</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>-0.93</fund><index>-2.53</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>2.78</fund><index>0.34</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>15.61</fund><index>13.90</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>14.28</fund><index>12.06</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>7.10</fund><index>7.47</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>7.32</fund><index>7.50</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Quarter End as of 09/30/2015

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>-4.52</fund><index>-4.91</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>-10.56</fund><index>-11.92</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>-6.42</fund><index>-7.73</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>3.68</fund><index>1.25</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>12.80</fund><index>11.02</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>14.09</fund><index>11.73</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>6.29</fund><index>6.55</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>6.80</fund><index>7.00</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of  10/31/2015
Name Weight
Manhattan Associates Inc. 0.77 %
Berry Plastics Group Inc. 0.70 %
Neurocrine Biosciences Inc. 0.67 %
CNO Financial Group Inc. 0.65 %
Umpqua Holdings Corporation 0.65 %
Aspen Technology Inc. 0.63 %
Curtiss-Wright Corporation 0.63 %
CyrusOne Inc. 0.62 %
Southwest Gas Corporation 0.61 %
Helen of Troy Limited 0.60 %
Download All Holdings XLS

Fund Sector Allocation

As of 10/31/2015
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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.


Active Quantitative Equities

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.

Portfolio Manager Gary Lowe Managing Director Show Bio

Gary is a Managing Director at 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.

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.
Senior Portfolio Manager Adel Daghmouri Vice President Show Bio
Adel is a Senior Portfolio Manager in the Global Quantitative Active Equity Group, where he focuses on managing global investment strategies, product development and quantitative research within developed markets. Prior to this he was a founding member of the quantitative Canadian active equity team responsible for portfolio management across active, enhanced and market-neutral strategies. Since joining the firm in 1998, Adel has also worked as a Portfolio Manager in the Global Structured Products Group focusing on a broad range of international and domestic strategies. Adel holds a Bachelor of Business Administration from Laval University and a Master of Science degree in Finance from HEC Montreal.
Portfolio Manager Stuart Hall Vice President Show Bio
Stuart is a Vice President of State Street Global Advisors and a Portfolio Manager in the Global Active Quantitative Equity Team. His responsibilities include management of the global and international small cap strategies, coordination with the European team across all group strategies as well as research within the group. Stuart joined SSGA in 2004 as a Quantitative Research Analyst in the Advanced Research Center (ARC). While with the ARC, Stuart worked with the Global Active Quantitative Equity Team in developing the Growth Capability model used in both the International Alpha Select and Global Alpha Strategies. He also played a key role in developing their Swiss Alpha Strategy based on his earlier research and implemented in the International Small Cap Strategy. His research has also extended to Transaction Cost Analysis and more recently, to a number of strategies within the Global Enhanced Equity Group. Stuart graduated from the University of New Hampshire with degrees in Mathematics and Economics and from Boston College with a Master of Science in Finance. In addition, he has earned the Chartered Financial Analyst Designation and is a member of the Boston Security Analysts Society.
Senior Portfolio Manager Anna Mitelman Lester Vice President Show Bio
Anna is a Vice President of State Street Global Advisors and a Senior Portfolio Manager for the U.S. Active Quantitative Equity Team. She has substantial experience developing quantitative strategies and managing investment portfolios using quantitative disciplines. Anna is responsible for portfolio management and research for the US active small cap investment strategies. Prior to joining SSGA, Anna was an analyst and portfolio manager at Putnam Investments and its subsidiary PanAgora Asset Management. Anna holds a BA in Computer Science and Mathematics from Wellesley College and an MBA from the MIT Sloan School of Management. She is a member of the Boston Security Analysts Society and CFA Institute.
Senior Portfolio Manager Chris Laine Vice President Show Bio

Chris is a Senior Portfolio Manager of State Street Global Advisors on the Active Emerging Markets team. He is also a member of the Active EM investment committee, which is responsible for establishing all the portfolio positions for each of the active emerging market strategies.

Currently, he has day to day responsibility for Emerging Europe, the Middle East, and Africa, and is the lead portfolio manager for the Emerging Market Select Strategy. Chris joined SSGA in 2007. Previously, Chris had been the Head of Asset Allocation for a European-based Emerging Markets Hedge Fund.

Additionally, Chris spent seven years on the sell side at Morgan Stanley (New York) and Citigroup (London), working in both Global Emerging Market Research and Quantitative Analysis. He began his career analyzing Emerging Markets in 1994, working at the Institute of International Finance in Washington, DC.

Chris holds an MBA in Finance from Emory University and an MA in International Transactions and Economics from George Mason University.

Head of Active Equity Management Jean-Christophe de Beaulieu Managing Director Show Bio

Jean-Christophe is a Managing Director of State Street Global Advisors and Head of Active Emerging Market Equity Portfolio Management. His responsibilities include overseeing portfolio management and contributing to research in traditional cap-weighted funds across the risk spectrum. He is a member of the firm's Senior Leadership Team.

Currently based in Boston, Jean-Christophe joined the company in the Paris office in March 2000 where he was in charge of the emerging markets strategies. Prior to joining SSGA, he was working at the CCF/HSBC and at Paribas as a risk manager assistant. Preceding that, he was working at the CEA (French Nuclear Agency) for intern research.

Jean-Christophe graduated with a degree in Fundamental Mathematics from the University Paris VI. He also holds two post-masters degrees in Numerical Analysis (from University Paris VI) and Financial Techniques (from ESSEC business school). He has earned the Chartered Financial Analyst designation and is a member of the Boston Security Analysts Society.

Russell 2000 Index


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.