Home   »   Mutual Funds : SSGA Emerging Markets Fund - Class N (SSEMX)

SSGA Emerging Markets Fund - Class N

Closed on 07 August 2014

This fund is closed to new investors.

Fund Objective

The Fund seeks to provide maximum total return, primarily through capital appreciation, by investing primarily in securities of foreign issuers.

Fund Information

As of 09/01/2015
Ticker SymbolSSEMX
Primary BenchmarkMSCI Emerging Market 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, distribution, shareholder servicing, and sub-transfer agency fees) exceed 1.00% of average daily net assets on an annual basis.

Inception Date03/01/1994
Investment ManagerSSGA Funds Management, Inc.
Management TeamActive Quantitative Equities
DistributorState Street Global Markets, LLC
Distribution FrequencyAnnually

Fund Characteristics

As of 07/31/2015
Dividend Yield

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

Earnings Growth 3 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 Holdings237
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$20,664.78 M


As of 08/31/2015
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 08/31/2015
Percent Change0.22%
Price Change$0.02
Shares Outstanding18.51 M
Total Net Assets$172.20 M

Fund Documents

Fund Performance

NAV Month End
As of 07/31/2015
NAV Quarter End
As of 06/30/2015
1 Month -6.93% -2.40%
QTD -6.93% 2.52%
YTD -3.04% 4.18%
1 Year -12.18% -4.84%
3 Year -0.57% 2.18%
5 Year -0.63% 2.73%
10 Year 5.21% 6.68%
6.09% 6.48%

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 Emerging Markets 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 NAV07/31/2015-6.93%-6.93%-3.04%-12.18%-0.57%-0.63%5.21%6.09%
MSCI Emerging Market Index07/31/2015-6.93%-6.93%-4.19%-13.38%0.61%0.58%6.62%4.87%
Quarter End
Fund at NAV06/30/2015-2.40%2.52%4.18%-4.84%2.18%2.73%6.68%6.48%
MSCI Emerging Market Index06/30/2015-2.60%0.69%2.95%-5.12%3.71%3.68%8.11%5.25%

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: 1.30%

Net Expense Ratio: 1.25%

Performance Graphs

Month End as of 07/31/2015

Fund Inception Date: 03/01/1994

Index Inception Date: 03/01/1994

<performance fundPerfNavName="Fund at NAV" bmarkName="MSCI Emerging Market Index"><funds><field>1 Month</field><fund>-6.93</fund><index>-6.93</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>-6.93</fund><index>-6.93</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>-3.04</fund><index>-4.19</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>-12.18</fund><index>-13.38</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>-0.57</fund><index>0.61</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>-0.63</fund><index>0.58</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>5.21</fund><index>6.62</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>6.09</fund><index>4.87</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Quarter End as of 06/30/2015

Fund Inception Date: 03/01/1994

Index Inception Date: 03/01/1994

<performance fundPerfNavName="Fund at NAV" bmarkName="MSCI Emerging Market Index"><funds><field>1 Month</field><fund>-2.40</fund><index>-2.60</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>2.52</fund><index>0.69</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>4.18</fund><index>2.95</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>-4.84</fund><index>-5.12</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>2.18</fund><index>3.71</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>2.73</fund><index>3.68</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>6.68</fund><index>8.11</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>6.48</fund><index>5.25</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of  07/31/2015
Name Weight
Samsung Electronics Co Ltd 3.32 %
Tencent Holdings Ltd 2.70 %
Taiwan Semiconductor Manufactu 2.48 %
China Mobile Ltd 2.42 %
China Construction Bk Corp 2.28 %
Bk of China Ltd 1.78 %
Ping An Insurance Group Co of 1.48 %
Hon Hai Precision Industry Co 1.38 %
Hindustan Unilever Ltd 1.12 %
Infosys Ltd 0.99 %
Download All Holdings XLS

Fund Sector Allocation

As of 07/31/2015
<?xml version="1.0" encoding="UTF-8" standalone="yes"?><component><asOfDate>07/31/2015</asOfDate><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>29.79</rawValue><value>29.79%</value><label>Financials</label><order>1</order></attribute><attribute><rawValue>20.64</rawValue><value>20.64%</value><label>Information Technology</label><order>2</order></attribute><attribute><rawValue>9.24</rawValue><value>9.24%</value><label>Consumer Discretionary</label><order>3</order></attribute><attribute><rawValue>7.71</rawValue><value>7.71%</value><label>Materials</label><order>4</order></attribute><attribute><rawValue>7.69</rawValue><value>7.69%</value><label>Industrials</label><order>5</order></attribute><attribute><rawValue>7.26</rawValue><value>7.26%</value><label>Consumer Staples</label><order>6</order></attribute><attribute><rawValue>6.85</rawValue><value>6.85%</value><label>Telecommunication Services</label><order>7</order></attribute><attribute><rawValue>6.42</rawValue><value>6.42%</value><label>Energy</label><order>8</order></attribute><attribute><rawValue>2.51</rawValue><value>2.51%</value><label>Utilities</label><order>9</order></attribute><attribute><rawValue>1.9</rawValue><value>1.90%</value><label>Health Care</label><order>10</order></attribute></attributes></component>

Fund Country Weights

As of 07/31/2015
South Africa7.59%
Russian Federation3.65%
Saudi Arabia1.72%
United Arab Emirates0.83%

Not FDIC Insured * No Bank Guarantee * May Lose Value

Prior to June 20, 2014, the SSGA Emerging Markets Fund - Class N was known as SSGA Emerging Markets Fund.

Unless otherwise noted all information contained herein is that of the SSGA Emerging Markets Fund - Class N.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based.  The Prospectus contains a more detailed description of the limited relationship MSCI has with SSGA Funds Management, Inc and any related funds.

The MSCI Emerging Markets Index is comprised of 26 countries. MSCI targets to capture 85% of free float-adjusted companies within each industry group in every country. Designation as an emerging market is determined by a number of factors, such as gross domestic product per capita; local government regulations; perceived investment risk; foreign ownership limits and capital controls; or the general perception by the investment community when determining an "emerging" classification of a market. The index is unmanaged and may not be invested in directly.

Active Quantitative Equities

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.

MSCI Emerging Market Index

Important Risk Information

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.

International markets entail different risks than those typically associated with domestic markets, including foreign currency fluctuation, political and economic instability, accounting changes and foreign taxation. These risks can be increased when investing in emerging markets 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.

Investing in futures is highly risky. Futures positions are considered highly leveraged because the initial margins are significantly smaller than the cash value of the contracts. The smaller the value of the margin in comparison to the cash value of the futures contract, the higher the leverage. There are a number of risks associated with futures investing including but not limited to counterparty credit risk, currency risk, derivatives risk, foreign issuer exposure risk, sector concentration risk, leveraging and liquidity risks.

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.

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.