Home   »   Mutual Funds : SSGA International Stock Selection Fund - Class N (SSAIX)

SSGA International Stock Selection 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 seeks to provide long-term capital growth by investing primarily in securities of foreign issuers.

Fund Information

As of 11/24/2015
Ticker SymbolSSAIX
Primary BenchmarkMSCI EAFE Net Dividend 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 0.75% of average daily net assets on an annual basis.

Inception Date03/07/1995
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 Holdings84
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/Cash Flow

Price/Cash Flow

The weighted average of current share price divided by operating cash flow per share for each security in the fund.

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$52,770.96 M


As of 11/23/2015
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 11/23/2015
Percent Change-0.46%
Price Change-$0.05
Shares Outstanding30.39 M
Total Net Assets$326.03 M

Fund Documents

Fund Performance

NAV Month End
As of 10/31/2015
NAV Quarter End
As of 09/30/2015
1 Month 6.67% -4.23%
QTD 6.67% -8.93%
YTD 4.21% -2.30%
1 Year 2.22% -5.32%
3 Year 9.81% 7.89%
5 Year 4.71% 4.24%
10 Year 3.63% 2.71%
4.41% 4.10%

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 International Stock Selection 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 NAV10/31/20156.67%6.67%4.21%2.22%9.81%4.71%3.63%4.41%
MSCI EAFE Net Dividend Index10/31/20157.82%7.82%2.13%-0.07%8.02%4.81%4.05%5.18%
Quarter End
Fund at NAV09/30/2015-4.23%-8.93%-2.30%-5.32%7.89%4.24%2.71%4.10%
MSCI EAFE Net Dividend Index09/30/2015-5.08%-10.23%-5.28%-8.66%5.63%3.98%2.97%4.82%

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: 1.23%

Net Expense Ratio: 1.00%

Performance Graphs

Month End as of 10/31/2015

Fund Inception Date: 03/07/1995

Index Inception Date: 03/01/1995

<performance fundPerfNavName="Fund at NAV" bmarkName="MSCI EAFE Net Dividend Index"><funds><field>1 Month</field><fund>6.67</fund><index>7.82</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>6.67</fund><index>7.82</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>4.21</fund><index>2.13</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>2.22</fund><index>-0.07</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>9.81</fund><index>8.02</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>4.71</fund><index>4.81</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>3.63</fund><index>4.05</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>4.41</fund><index>5.18</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Quarter End as of 09/30/2015

Fund Inception Date: 03/07/1995

Index Inception Date: 03/01/1995

<performance fundPerfNavName="Fund at NAV" bmarkName="MSCI EAFE Net Dividend Index"><funds><field>1 Month</field><fund>-4.23</fund><index>-5.08</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>-8.93</fund><index>-10.23</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>-2.30</fund><index>-5.28</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>-5.32</fund><index>-8.66</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>7.89</fund><index>5.63</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>4.24</fund><index>3.98</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>2.71</fund><index>2.97</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>4.10</fund><index>4.82</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of  10/31/2015
Name Weight
Novartis AG 3.10 %
Roche Holding Ltd Genusssch. 2.75 %
Sanofi 2.46 %
Imperial Tobacco Group PLC 2.32 %
Fuji Heavy Industries Ltd. 2.27 %
Deutsche Telekom AG 2.24 %
Direct Line Insurance Group Plc 2.11 %
BT Group plc 2.09 %
Mizuho Financial Group Inc. 2.03 %
Barclays PLC 1.99 %
Download All Holdings XLS

Fund Sector Allocation

As of 10/31/2015
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Fund Country Weights

As of 10/31/2015
United Kingdom21.41%
Hong Kong1.11%
New Zealand0.92%

Not FDIC Insured * No Bank Guarantee * May Lose Value

Prior to June 20, 2014, the SSGA International Stock Selection Fund - Class N was known as SSGA International Stock Selection Fund.

Unless otherwise noted all information contained herein is that of the SSGA International Stock Selection Fund - Class N.

The financial products described herein are indexed to an MSCI  index.  The financial products referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such financial products or any index on which such financial products are based.

The MSCI EAFE® Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure developed market equity performance, excluding the US & Canada. As of December 2003 the MSCI EAFE Index consisted of the following 21 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. The Index is unmanaged and can not be invested in directly.

Active Quantitative Equities

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.

MSCI EAFE Net Dividend Index


Important Risk Information

In addition to normal risks associated with equity investing, international investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, and from adverse political, social and economic instability in other nations.

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.

Companies with large market capitalizations go in and out of favor based on market and economic conditions. Larger companies tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the value of the security may not rise as much as companies with smaller market capitalizations.

Investments in mid/small-sized companies may involve greater risks than in those of larger, better known companies.

Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets.