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SSSDX

SSGA Dynamic Small Cap Fund - Class A

Fund Objective

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

Fund Information

As of 05/27/2016
Ticker SymbolSSSDX
Primary BenchmarkRussell 2000 Index
CUSIP784924367
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.

2.27%
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 0.85% 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.

1.30%
Inception Date07/07/2014
Investment ManagerSSGA Funds Management, Inc.
Management TeamActive Quantitative Equities
DistributorState Street Global Markets, LLC
Distribution FrequencyAnnually
ExchangeNASDAQ REGULAR MARKET

Fund Characteristics

As of 04/30/2016
Est. 3-5 Year EPS Growth

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.

10.76%
Number of Holdings432
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.

1.83
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

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

15.65
Weighted Average Market Cap$1,811.01 M

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 05/26/2016
Percent Change-0.13%
Price$37.74
Price Change-$0.05
Shares Outstanding1,524
Total Net Assets$57,518.05

Fund Documents

Fund Performance

Month End
As of 04/30/2016
Quarter End
As of 03/31/2016
At NAV At POP At NAV At POP
1 Month -0.03% -5.27% 7.72% 2.07%
QTD -0.03% -5.27% -0.74% -5.96%
YTD -0.77% -5.98% -0.74% -5.96%
1 Year -0.73% -5.93% -4.60% -9.61%
3 Year 9.24% 7.29% 9.12% 7.17%
5 Year 9.91% 8.73% 10.79% 9.60%
10 Year 3.21% 2.66% 3.31% 2.75%
Inception 
8.14% 7.89% 8.17% 7.92%

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.

Purchase Information

A one-time voluntary payment was made by SSgA Funds Management, Inc. on August 20, 2013 to the SSGA Dynamic Small Cap Fund. As a result of the payment, the performance of the Fund for periods as of and after August 20, 2013, is expected to be impacted by the increase in the Fund's NAV. If the voluntary payment had not been made, the total return for the period(s) indicated would have been lower.

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 Small Cap 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
07/01/1992
Month End
Fund at NAV04/30/2016-0.03%-0.03%-0.77%-0.73%9.24%9.91%3.21%8.14%
Fund at POP04/30/2016-5.27%-5.27%-5.98%-5.93%7.29%8.73%2.66%7.89%
Russell 2000 Index04/30/20161.57%1.57%0.03%-5.94%7.53%6.98%5.42%9.27%
Quarter End
Fund at NAV03/31/20167.72%-0.74%-0.74%-4.60%9.12%10.79%3.31%8.17%
Fund at POP03/31/20162.07%-5.96%-5.96%-9.61%7.17%9.60%2.75%7.92%
Russell 2000 Index03/31/20167.98%-1.52%-1.52%-9.76%6.84%7.20%5.26%9.23%

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: 2.27%

Net Expense Ratio: 1.30%

Performance Graphs

Month End as of 04/30/2016

Fund Inception Date: 07/01/1992

Index Inception Date: 01/01/2000

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Quarter End as of 03/31/2016

Fund Inception Date: 07/01/1992

Index Inception Date: 01/01/2000

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Fund Top Holdings

Subject to change.

As of  04/30/2016
Name Weight
MarketAxess Holdings Inc. 0.73 %
Darling Ingredients Inc. 0.67 %
First American Financial Corporation 0.66 %
Vail Resorts Inc. 0.65 %
Casey's General Stores Inc. 0.64 %
HealthSouth Corporation 0.62 %
New Jersey Resources Corporation 0.62 %
Fair Isaac Corporation 0.61 %
WGL Holdings Inc. 0.61 %
SkyWest Inc 0.59 %

Subject to change.

Download All Holdings XLS

Fund Sector Allocation

As of 04/30/2016
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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 Dynamic Small Cap Fund - Class A.

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

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 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.

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.

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.

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.

Value stocks can perform differently from the market as a whole.  They can remain undervalued by the market for long periods of time.

Derivative investments may involve risks such as potential illiquidity of the markets and additional risk of loss of principal.