SSgA Small Cap Fund - R Share (SSCRX)

FUND OBJECTIVE

The Fund seeks to maximize total return through investments in equity securities; at least 80% of the total assets will be invested in small capitalization equity securities.

Fund Information
As of  09/07/2010
Ticker SymbolSSCRX
Primary BenchmarkRussell 2000
CUSIP784924573
Gross Expense Ratio3.18%
Net Expense Ratio1.6%
Inception Date07/01/1992
Investment ManagerSSgA Funds Management, Inc.
Management TeamActive Quantitative Equity Team
DistributorState Street Global Markets, LLC
Distribution FrequencyAnnually
Fund Characteristics
As of  07/31/2010
Earnings Growth 5 Year5.22%
FY 1 P/E Ratio14.07
Number of Holdings278
Price/Book Ratio1.81
Weighted Average Market Cap$939.45 M
Fund Performance
Month End
as of07/31/2010 		Quarter End
as of06/30/2010
1 Month 7.31% -8.01%
QTD 7.31% -9.80%
YTD 2.80% -4.20%
1 Year 13.89% 15.91%
3 Year -14.20% -18.62%
5 Year -7.31% -7.54%
10 Year 0.27% -0.62%
Inception07/01/1992 5.93% 5.54%

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. Visit ssgafunds.com  for most recent month-end performance.

Fund Net Asset Value  
As of  09/03/2010
1 Day Average Yield (subsidized)0.00%
Percent Change1.70%
Price$16.78
Price Change$0.28
Shares Outstanding34,330
Total Net Assets$576,117.67

PURCHASE INFORMATION

SSgA Funds Class R Shares may not be purchased by individuals directly, but must be purchased through a third party financial institution which is permitted by contract with the SSgA Funds to offer shares. The third party may be a retirement plan administrator, bank, broker or advisor, and will be referred to in this prospectus as a ""Financial Intermediary."" Only certain Financial Intermediaries are authorized to receive purchase orders on the Funds' behalf. The Funds reserve the right to reject any purchase order.

If you have questions about SSgA Funds or the Class R Shares, including questions about the investment objectives, strategies or risks, please call the SSgA Funds toll free at 1-800-647-7327.



The short- term results of a relatively new fund are not necessarily indicative of its long-term prospects.  The use of short selling entails a high degree of risk, may increase potential losses and is not suitable for all investors.


Not FDIC Insured - No Bank Guarantee - May Lose Value

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

Total returns stated prior to the class inception date of R shares (5/14/04) for the fund was derived from the original share class performance adjusted for higher operating expenses, including Distribution and Service (12b-1) fees. All share classes invest in the same underlying fund portfolio. Please see the fund's prospectus for more details.

Investments in smaller companies may involve greater risks than those in larger, better known companies.

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. This index is widely regarded in the industry as the premier measure of small cap stocks.

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