Home   »   Mutual Funds :  State Street U.S. Value Spotlight Fund - Class K (SIEKX)
SIEKX

State Street U.S. Value Spotlight Fund - Class K

Fund Objective

The State Street U.S. Value Spotlight Fund seeks to provide long-term growth of capital.

Fund Information

As of   09/22/2017
Ticker Symbol SIEKX
Primary Benchmark Russell 1000 Value Index
CUSIP 85749Q315
Gross Expense Ratio

Gross Expense Ratio

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.

9.74%
Net Expense Ratio

The Fund's investment adviser, SSGA Funds Management, Inc. is contractually obligated until April 30, 2018, to waive its management fee and/or to reimburse the Fund for expenses to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and expenses, Administration Fees and any class-specific expenses such as Distributions, Shareholder Servicing and Sub-Transfer Agency Fees) exceed 0.60% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2018 except with approval of the Fund's Board of Trustees.

0.66%
Inception Date 09/22/2016
Investment Manager SSGA Funds Management, Inc.
Management Team Fundamental Equities
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annual
Exchange NASDAQ REGULAR MARKET

Fund Characteristics

As of   08/31/2017
Dividend Yield 1.93%
Est. 3-5 Year EPS Growth

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.

2.75%
Number of Holdings 34
Price/Book Ratio

Price/Book Ratio

The weighted harmonic average of closing market price divided by the most recent reported book value for each security in the fund’s portfolio as calculated for the last twelve months.

1.82
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

The weighted harmonic average of current share price divided by the forecasted one year earnings per share for each security in the fund. Negative and positive outliers are included in the calculation.

16.01
Weighted Average Market Cap $77,677.71 M

Yields

As of   09/21/2017
30 Day SEC Yield

30 Day SEC Yield

(Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

1.25%
30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized)

An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price that does not account for expense ratio waivers.

-33.33%

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   09/21/2017
NAV $11.42
Percent Change 0.26%
Price Change $0.03
Shares Outstanding 100,000
Total Net Assets $1.14 M

Fund Documents

Fund Performance

NAV Month End
As of  08/31/2017
NAV Quarter End
As of  06/30/2017
1 Month -2.65% 3.19%
QTD 0.00% 1.76%
YTD 5.36% 5.36%
1 Year N/A N/A
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Inception 
10.54% 10.54%

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

Purchase Information

Minimum Investments
Initial $10,000,000.00
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: State Street U.S. Value Spotlight Fund - Class K
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 of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
09/22/2016
Month End
Fund at NAV 08/31/2017 -2.65% 0.00% 5.36% N/A N/A N/A N/A 10.54%
Russell 1000 Value Index 08/31/2017 -1.16% 0.15% 4.81% N/A N/A N/A N/A 11.63%
Quarter End
Fund at NAV 06/30/2017 3.19% 1.76% 5.36% N/A N/A N/A N/A 10.54%
Russell 1000 Value Index 06/30/2017 1.63% 1.34% 4.66% N/A N/A N/A N/A 11.46%

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.

Gross Expense Ratio: 9.74%

Net Expense Ratio: 0.66%

Performance Graphs

Quarter End as of 06/30/2017

Fund Inception Date: 09/22/2016

Index Inception Date: 01/01/1987

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Fund Top Holdings

Subject to change.

Subject to change.

As of   08/31/2017
Name Weight
Citigroup Inc 3.76 %
Affiliated Managers Group Inc. 3.57 %
Oracle Corporation 3.37 %
Arconic Inc. 3.36 %
McKesson Corporation 3.26 %
Cigna Corporation 3.17 %
Merck & Co. Inc. 3.15 %
Intel Corporation 3.14 %
Avnet Inc. 3.13 %
Cisco Systems Inc. 3.11 %
Download All Holdings XLS

Fund Sector Allocation

As of  08/31/2017
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Unless otherwise noted all information contained herein is that of the State Street U.S. Value Spotlight Fund - Class K.

The Russell 1000® Index, Russell 2000® Index, Russell 3000® Index, and Russell Small Cap Completeness® Index are trademarks of Russell Investment Group and have been licensed for use by State Street Bank and Trust Company through its State Street Global Advisors Division. The Products are not sponsored, endorsed, sold or promoted by Russell Investment Group and Russell Investment Group makes no representation regarding the advisability of investing in the Product.

Fundamental Equities

Chief Investment Officer Barry Glavin Senior Managing Director Show Bio

Barry Glavin is the Chief Investment Officer of SSGA's Dublin-based Fundamental Value Team, and the Portfolio Manager responsible for the International Value Spotlight Strategy.

He joined the business in November 2006 as Head of Industrials Research, and led the Research Team for six years until his appointment as CIO in July 2013. Prior to SSGA, Barry spent seven years with the HSBC group; in London, as Head of Industrials Research with HSBC Halbis Partners; and in Paris, as a Portfolio Manager with the Multi Asset Class team. Barry began his financial career as a derivatives broker with Cargill Investor Services in Paris.

Barry holds a BA in Politics and Philosophy from University College Dublin and earned the Chartered Financial Analyst designation in 2003.

Head of Portfolio Management Brian Routledge Senior Managing Director Show Bio

Brian Routledge joined SSGA's Dublin-based Fundamental Value Team in January 2007. Brian manages both our Global Value Spotlight Strategy and our USA Value Spotlight Strategy and is Head of Portfolio Management.

Brian has 30 years investment management industry experience. Prior to joining SSGA, Brian spent seven years as a Senior Portfolio Manager and Analyst at Citigroup Asset Management (then Legg Mason) in the US. Prior to this Brian has over 12 years experience as a sell-side analyst for both Credit Suisse First Boston and Prudential Securities in New York.

Brian holds a BSc (Finance) from St. John's University, New York, and earned the Chartered Financial Analyst designation in 1992.

Research Analyst Bob Allen Vice President Show Bio

Bob Allen joined SSGA's Dublin-based Fundamental Value Team in November 2013 as a Research Analyst, specialising in the global technology and telecoms sectors.

Bob previously worked for 6 years at International Investment and Underwriting (IIU), a private equity firm, as a Corporate Finance Executive. Prior to joining IIU, Bob spent 11 years at Silicon and Software Systems (S3) where he attained the position of Projects Manager.

Bob holds a first class honours degree in Engineering and a Masters in Engineering Science, both from University College Cork, and a first class honours MBA from University College Dublin. He earned the Chartered Financial Analyst designation in 2016.

Research Analyst PJ Davies Vice President Show Bio

PJ Davies joined SSGA's Dublin-based Fundamental Value Team in April 2017 as a Research Analyst, specialising in the global consumer sector.

PJ has spent over 32 years in the investment industry. He previously worked for Frost Consulting in London, providing consultancy services to the fund management industry. Prior to that he worked for Canaccord Genuity where he managed the team responsible for Quest, an application for analysing company valuations.

Prior to this, PJ spent 12 years at Pioneer Investments in Dublin, covering the consumer sector for over 10 of those years. During his time at Pioneer, PJ also held the roles of Head of Consumer Research and Head of Research. Before joining Pioneer in 2000, PJ had spent 4 years at Irish Life Investment Managers as a Senior Fund Manager and Analyst covering Asian equities and global consumer stocks.

PJ holds a BA (Modern Languages) from Oxford University and an MBA from Cass Business School.

Research Analyst Owen Dwyer Vice President Show Bio

Owen Dwyer joined SSGA's Dublin-based Fundamental Value Team in April 2015 as a Research Analyst, specialising in the global resources sectors.

Owen joins from the Ontario Municipal Employees Retirement System (OMERS) in Toronto where he was responsible for a long / short global materials strategy within the global equity team. Prior industry roles include five years with Pioneer Investments in Dublin as Head of European and Emerging Markets Materials and Energy Research, and six years with Merrill Lynch in London, where he was a rated sell-side analyst covering European Chemical companies.

He began his career as an R&D scientist with GlaxoWellcome in 1991, and found his way into equity research via business school (1997) and three years at management consultancy, AT Kearney.

Owen holds a BA (Hons) in Chemistry from Trinity College Dublin, a PhD in Chemistry from the University of Edinburgh, and an MBA from the Cranfield School of Management.

Portfolio Manager Lance Graham Managing Director Show Bio

Lance Graham joined SSGA's Dublin-based Fundamental Value Team in November 2007. Lance manages both our Global Value Strategy and our Europe Value Spotlight Strategy.

Prior to this appointment, Lance was responsible for the management of AIB Investment Managers (AIBIM) UK and Global equity funds. He was also responsible for the pharmaceutical, media and mining sectors of their Pan-European funds.

In a portfolio management career spanning 23 years, Lance has also worked for Glasgow Investment Managers and for Guardian Royal Exchange Asset Management in London.

Lance holds a first-class honours degree in Genetics from Edinburgh University and is an Associate Member of the CFA Society of the UK.

Portfolio Manager William Killeen Managing Director Show Bio

William Killeen joined SSGA's Dublin-based Fundamental Value Team in May 2005, and manages both our Asia Pacific Value Spotlight Strategy and our Eurozone Value Spotlight Strategy.

William has over 20 years investment industry experience. Prior to joining SSGA, William spent five years as a Senior Portfolio Manager and Resources Sector Analyst at Setanta Asset Management, the investment division of Great West Life of Canada. Prior to that William spent five years as a Senior Quantitative Analyst with BNP Paribas Asset Management in London and Standard Bank, London.

He has an MA in Economics from the National University of Ireland, Maynooth; a PhD in Finance from Queen's University, Belfast and earned the Chartered Financial Analyst designation in 2012.

Research Analyst Joe Lawlor Vice President Show Bio

Joe Lawlor joined SSGA's Dublin-based Fundamental Value Team in 2002, and is a Research Analyst focused on the global healthcare sector.

Joe arrived at State Street Global Advisors Ireland Limited in 1995 from ESB Fund Managers, and until 2002, Joe was part of the fixed income team at SSGA Ireland and was centrally involved in the duration and currency decision making process.

He previously worked at Riada Stockbrokers (ABN AMRO) and as an Economist with the Irish Department of Finance. Joe holds an MA (Economics) from University College Dublin.

Research Analyst Simon Matthews Vice President Show Bio

Simon joined SSGA's Dublin-based Fundamental Value Team in October 2015 as a Research Analyst, specialising in the global consumer sector.

Simon has over 11 years investment industry experience. He previously worked for Goodbody Stockbrokers as an Equity Analyst covering the food and beverage industry. Prior to that Simon was an Executive Director in UBS's Leveraged Finance division in London and before that with Unicredit, also in London.

Simon graduated from Trinity College, Dublin in 2001 with a degree in Business Studies and French. He qualified as a chartered accountant in 2005 and earned the Chartered Financial Analyst designation in 2014.

Research Analyst Mark Prentice Vice President Show Bio

Mark Prentice joined SSGA's Dublin-based Fundamental Value Team in September 2011 as a Research Analyst focusing on financial statement analysis and corporate engagement.

Mark joined SSGA from Goldman Sachs Asset Management in London where he worked as a Forensic Accountant between 2003 and 2011. Prior to working at GSAM, Mark worked in the Forensic Accounting departments of both Ernst & Young and PwC predecessor firms in London.

Mark holds a BA in Geography from Durham University. He is Chartered Accountant, has earned the Chartered Financial Analyst designation in 2006, and is a Certified Fraud Examiner. He is also a member of the Capital Markets Advisory Committee for the International Accounting Standards Board.

Russell 1000 Value Index

The Russell 1000 Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000 Index companies with lower price-to-book ratios and lower expected growth values.

Important Risk Information

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

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

Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions.