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SSRVX

SSGA Clarion Real Estate Fund - Class A

Fund Objective

The Fund seeks to provide income and capital growth by investing primarily in publicly traded securities issued by real estate investment trusts ("REITS").

Fund Information

As of 06/28/2016
Ticker SymbolSSRVX
Primary BenchmarkDow Jones U.S. Select REIT Index
CUSIP784924144
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.

1.67%
Net Expense Ratio

The Fund's investment adviser, SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM"), is contractually obligated until December 31, 2016 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 1.00% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to December 31, 2016 except with the approval of the Fund's Board of Trustees. In addition, SSGA FM has contractually agreed to waive 0.01% of its administration fee. This waiver may not be terminated or modified except with the approval of the Fund's Board of Trustees.

1.20%
Inception Date07/07/2014
Investment ManagerSSGA Funds Management, Inc.
Sub-advisorCBRE Clarion Securities, LLC
DistributorState Street Global Markets, LLC
Distribution FrequencyQuarterly
ExchangeNASDAQ REGULAR MARKET

Fund Characteristics

As of 05/31/2016
3 yr. FFO Growth7.40%
Number of Holdings38
P/FFO18.60
P/NAV0.96
Weighted Average Dividend Yield3.42%
Weighted Average Market Cap$23,218.13 M

Yields

As of 06/27/2016
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.

2.25%
30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized 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 that does not take into account expense ratio subsidizations.

1.65%

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 06/27/2016
Percent Change0.12%
Price$17.14
Price Change$0.02
Shares Outstanding14,758
Total Net Assets$252,887.61

Fund Documents

Fund Performance

Month End
As of 05/31/2016
Quarter End
As of 03/31/2016
At NAV At POP At NAV At POP
1 Month 1.19% -4.10% 10.43% 4.62%
QTD -2.01% -7.18% 4.56% -0.94%
YTD 2.46% -2.93% 4.56% -0.94%
1 Year 8.37% 2.65% 3.85% -1.58%
3 Year 9.87% 7.92% 10.83% 8.85%
5 Year 9.25% 8.07% 11.43% 10.23%
10 Year 5.37% 4.80% 4.87% 4.31%
Inception 
9.16% 8.84% 9.37% 9.05%

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. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

POP Performance shown for the periods prior to the inception of Class A shares on July 7, 2014 reflects the historical performance of the fund’s Class N shares adjusted to reflect the higher expenses of Class A shares, estimated for their first year of operations, including applicable 12b-1 fees and the maximum sales load of Class A (5.25% for Equity Funds and 3.75% for Fixed Income Funds). NAV Performance shown for the periods prior to the inception of Class A shares on July 7, 2014 reflects the historical performance of the fund’s Class N shares adjusted to reflect the higher expenses of Class A shares, estimated for their first year of operations,including applicable 12b-1 fees.

Purchase Information

Minimum Investments
Initial $2,000.00
Initial AIP $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 Clarion Real Estate Fund - Class A)
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
04/29/1998
Month End
Fund at NAV05/31/20161.19%-2.01%2.46%8.37%9.87%9.25%5.37%9.16%
Fund at POP05/31/2016-4.10%-7.18%-2.93%2.65%7.92%8.07%4.80%8.84%
Dow Jones U.S. Select REIT Index05/31/20162.01%-0.98%4.09%10.29%10.55%10.15%6.78%9.77%
Quarter End
Fund at NAV03/31/201610.43%4.56%4.56%3.85%10.83%11.43%4.87%9.37%
Fund at POP03/31/20164.62%-0.94%-0.94%-1.58%8.85%10.23%4.31%9.05%
Dow Jones U.S. Select REIT Index03/31/201610.43%5.12%5.12%4.88%11.09%11.99%6.17%9.92%

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. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

POP Performance shown for the periods prior to the inception of Class A shares on July 7, 2014 reflects the historical performance of the fund’s Class N shares adjusted to reflect the higher expenses of Class A shares, estimated for their first year of operations, including applicable 12b-1 fees and the maximum sales load of Class A (5.25% for Equity Funds and 3.75% for Fixed Income Funds). NAV Performance shown for the periods prior to the inception of Class A shares on July 7, 2014 reflects the historical performance of the fund’s Class N shares adjusted to reflect the higher expenses of Class A shares, estimated for their first year of operations,including applicable 12b-1 fees.

Gross Expense Ratio: 1.67%

Net Expense Ratio: 1.20%

Performance Graphs

Month End as of 05/31/2016

Fund Inception Date: 04/29/1998

Index Inception Date: 04/30/1998

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Quarter End as of 03/31/2016

Fund Inception Date: 04/29/1998

Index Inception Date: 04/30/1998

<performance fundPerfNavName="Fund at NAV" fundPerfPOPName="Fund at POP" bmarkName="Dow Jones U.S. Select REIT Index"><funds><field>1 Month</field><fund>10.43</fund><fundPOP>4.62</fundPOP><index>10.43</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>4.56</fund><fundPOP>-0.94</fundPOP><index>5.12</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>4.56</fund><fundPOP>-0.94</fundPOP><index>5.12</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>3.85</fund><fundPOP>-1.58</fundPOP><index>4.88</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>10.83</fund><fundPOP>8.85</fundPOP><index>11.09</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>11.43</fund><fundPOP>10.23</fundPOP><index>11.99</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>4.87</fund><fundPOP>4.31</fundPOP><index>6.17</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>9.37</fund><fundPOP>9.05</fundPOP><index>9.92</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of  05/31/2016
Name Weight Shares Held
Simon Property Group Inc. 11.35 % 24,725
Public Storage 6.74 % 11,441
Equity Residential 6.69 % 41,639
Welltower Inc. 6.19 % 38,695
AvalonBay Communities Inc. 5.81 % 13,908
ProLogis Inc. 4.80 % 43,524
General Growth Properties 4.70 % 75,400
Vornado Realty Trust 3.73 % 16,838
SL Green Realty Corp. 3.53 % 14,998
Kimco Realty Corp. 3.01 % 45,929
Download All Holdings XLS

Fund Sector Allocation

As of 05/31/2016
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Public Offering Price (POP) - POP is equal to a Fund’s Net Asset Value plus sales charges, if any. As with the Net Asset Value, the public offering price (POP) will typically change on a day to day basis. The Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) is 5.25% for Equity Funds, 3.75% for Fixed Income Funds and 4.50% for Target Retirement Funds.

Unless otherwise noted all information contained herein is that of the SSGA Clarion Real Estate Fund - Class A.

The Dow Jones U.S. Select REIT Index is a market capitalization-weighted index composed of publicly traded Real Estate Investment Trusts (REITs). No special purpose or healthcare REITs are included. The Index is rebalanced monthly and reconstituted quarterly. The Index is unmanaged and can not be invested in directly.

Dow Jones and Dow Jones Total Stock Market Indexes are service marks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by State Street Bank and Trust.

No Team Members exists.

Dow Jones U.S. Select REIT Index

The Dow Jones U.S. Select REIT IndexSM is comprised of companies whose charters are the equity ownership and operation of commercial real estate and which operate under the REIT Act of 1960.  Each REIT in the REIT Index is weighted by its float-adjusted market capitalization. That is, each security is weighted to reflect the attainable market performance of the security which reflects that portion of securities shares that are accessible to investors.

Important Risk Information

REIT funds may be subject to a high degree of market risk due to lack of industry diversification. REIT funds may be subject to other risks including, but not limited to, changes in real estate values or economic conditions, credit risk and interest rate fluctuations and changes in the value of the underlying property owned by the trust and defaults by borrowers.

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.

Non-diversified funds that focus on a relatively small number of stocks tend to be more volatile than diversified funds and the market as a whole.

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.