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SSGA Dynamic Small Cap 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 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 02/14/2016
Ticker SymbolSVSCX
Primary BenchmarkRussell 2000 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 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.

Inception Date07/01/1992
Investment ManagerSSGA Funds Management, Inc.
Management TeamActive Quantitative Equities
DistributorState Street Global Markets, LLC
Distribution FrequencyAnnually

Fund Characteristics

As of 01/31/2016
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 Holdings427
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$1,851.54 M

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 02/11/2016
Percent Change-0.67%
Price Change-$0.22
Shares Outstanding780,979
Total Net Assets$25.42 M

Fund Documents

Fund Performance

NAV Month End
As of 01/31/2016
NAV Quarter End
As of 12/31/2015
1 Month -6.62% -3.52%
QTD -6.62% 3.99%
YTD -6.62% 0.37%
1 Year -3.75% 0.37%
3 Year 9.46% 14.26%
5 Year 11.79% 13.42%
10 Year 3.01% 4.59%
8.22% 8.56%

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 Dynamic Small Cap 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 NAV01/31/2016-6.62%-6.62%-6.62%-3.75%9.46%11.79%3.01%8.22%
Russell 2000 Index01/31/2016-8.79%-8.79%-8.79%-9.92%6.11%7.25%4.92%8.94%
Quarter End
Fund at NAV12/31/2015-3.52%3.99%0.37%0.37%14.26%13.42%4.59%8.56%
Russell 2000 Index12/31/2015-5.02%3.59%-4.41%-4.41%11.65%9.19%6.80%9.40%

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: 2.07%

Net Expense Ratio: 1.10%

Performance Graphs

Month End as of 01/31/2016

Fund Inception Date: 07/01/1992

Index Inception Date: 01/01/2000

<performance fundPerfNavName="Fund at NAV" bmarkName="Russell 2000 Index"><funds><field>1 Month</field><fund>-6.62</fund><index>-8.79</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>-6.62</fund><index>-8.79</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>-6.62</fund><index>-8.79</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>-3.75</fund><index>-9.92</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>9.46</fund><index>6.11</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>11.79</fund><index>7.25</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>3.01</fund><index>4.92</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>8.22</fund><index>8.94</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Quarter End as of 12/31/2015

Fund Inception Date: 07/01/1992

Index Inception Date: 01/01/2000

<performance fundPerfNavName="Fund at NAV" bmarkName="Russell 2000 Index"><funds><field>1 Month</field><fund>-3.52</fund><index>-5.02</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>3.99</fund><index>3.59</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>0.37</fund><index>-4.41</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>0.37</fund><index>-4.41</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>14.26</fund><index>11.65</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>13.42</fund><index>9.19</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund>4.59</fund><index>6.80</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>8.56</fund><index>9.40</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of  01/31/2016
Name Weight
Casey's General Stores Inc. 0.78 %
MarketAxess Holdings Inc. 0.78 %
CubeSmart 0.77 %
IDACORP Inc. 0.75 %
First American Financial Corporation 0.71 %
Vail Resorts Inc. 0.71 %
New Jersey Resources Corporation 0.69 %
WGL Holdings Inc. 0.67 %
Sovran Self Storage Inc. 0.65 %
Chemed Corporation 0.64 %
Download All Holdings XLS

Fund Sector Allocation

As of 01/31/2016
<?xml version="1.0" encoding="UTF-8" standalone="yes"?><component><asOfDate>01/31/2016</asOfDate><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>31.04</rawValue><value>31.04%</value><label>Financial Services</label><order>1</order></attribute><attribute><rawValue>14.12</rawValue><value>14.12%</value><label>Consumer Discretionary</label><order>2</order></attribute><attribute><rawValue>14.01</rawValue><value>14.01%</value><label>Health Care</label><order>3</order></attribute><attribute><rawValue>13.52</rawValue><value>13.52%</value><label>Technology</label><order>4</order></attribute><attribute><rawValue>12.06</rawValue><value>12.06%</value><label>Producer Durables</label><order>5</order></attribute><attribute><rawValue>7.5</rawValue><value>7.50%</value><label>Utilities</label><order>6</order></attribute><attribute><rawValue>4.55</rawValue><value>4.55%</value><label>Materials &amp; Processing</label><order>7</order></attribute><attribute><rawValue>3.04</rawValue><value>3.04%</value><label>Consumer Staples</label><order>8</order></attribute><attribute><rawValue>0.1</rawValue><value>0.10%</value><label>Energy</label><order>9</order></attribute><attribute><rawValue>0.06</rawValue><value>0.06%</value><label>Unassigned</label><order>10</order></attribute></attributes></component>

Not FDIC Insured * No Bank Guarantee * May Lose Value

Prior to June 20, 2014, the SSGA Dynamic Small Cap Fund - Class N was known as SSGA Dynamic Small Cap Fund.

Unless otherwise noted all information contained herein is that of the SSGA Dynamic Small Cap Fund - Class N.

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.