Home   »   Mutual Funds :  State Street Disciplined Emerging Markets Equity Fund - Class A (SSELX)
SSELX

State Street Disciplined Emerging Markets Equity Fund - Class A

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   09/22/2017
Ticker Symbol SSELX
Primary Benchmark MSCI Emerging Market Index
CUSIP 784924326
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.

1.72%
Net Expense Ratio

^The Adviser is contractually obligated until December 31, 2017 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, 2017 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.

1.45%
Inception Date 07/07/2014
Investment Manager SSGA Funds Management, Inc.
Management Team Active Quantitative Equities
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annually
Exchange NASDAQ REGULAR MARKET

Fund Characteristics

As of   08/31/2017
Dividend Yield

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

3.44%
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.

9.20%
Number of Holdings 97
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.

1.78
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.

12.15
Weighted Average Market Cap $23,995.16 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.

1.71%
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.

2.34%

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 $8.64
Percent Change -0.23%
Price Change -$0.02
Shares Outstanding 6,269
Total Net Assets $54,134.68

Fund Documents

Fund Performance

Month End
As of  08/31/2017
Quarter End
As of  06/30/2017
At NAV At POP At NAV At POP
1 Month 0.71% -4.60% 0.88% -4.39%
QTD 5.46% -0.12% 5.77% 0.25%
YTD 22.83% 16.44% 16.47% 10.41%
1 Year 15.57% 9.57% 16.61% 10.48%
3 Year -2.64% -4.36% -2.99% -4.71%
5 Year 1.37% 0.28% 0.42% -0.66%
10 Year -0.92% -1.45% -1.11% -1.64%
Inception 
5.81% 5.57% 5.61% 5.37%

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 (State Street Disciplined Emerging Markets Equity 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 of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
03/01/1994
Month End
Fund at NAV 08/31/2017 0.71% 5.46% 22.83% 15.57% -2.64% 1.37% -0.92% 5.81%
Fund at POP 08/31/2017 -4.60% -0.12% 16.44% 9.57% -4.36% 0.28% -1.45% 5.57%
MSCI Emerging Market Index 08/31/2017 2.23% 8.32% 28.29% 24.53% 2.38% 5.30% 2.43% 5.49%
Quarter End
Fund at NAV 06/30/2017 0.88% 5.77% 16.47% 16.61% -2.99% 0.42% -1.11% 5.61%
Fund at POP 06/30/2017 -4.39% 0.25% 10.41% 10.48% -4.71% -0.66% -1.64% 5.37%
MSCI Emerging Market Index 06/30/2017 1.01% 6.27% 18.43% 23.75% 1.07% 3.96% 1.91% 5.17%

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: 1.72%

Net Expense Ratio: 1.45%

Performance Graphs

Quarter End as of 06/30/2017

Fund Inception Date: 03/01/1994

Index Inception Date: 03/01/1994

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Fund Top Holdings

Subject to change.

Subject to change.

As of   08/31/2017
Name Weight
Tencent Holdings Ltd. 3.03 %
Taiwan Semiconductor Manufacturing Co. Ltd. 2.94 %
PT Telekomunikasi Indonesia Tbk Class B 2.93 %
O2 Czech Republic a.s. 2.85 %
Airports of Thailand Public Co. Ltd.(Alien Mkt) 2.58 %
Chemical Works of Gedeon Richter Plc 2.54 %
Bharat Petroleum Corporation Limited 2.52 %
Chunghwa Telecom Co. Ltd 2.42 %
Metro Pacific Investments Corporation 2.38 %
China Mobile Limited 2.26 %
Download All Holdings XLS

Fund Sector Allocation

As of  08/31/2017
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Fund Country Weights

As of  08/31/2017
China 18.52%
Taiwan 13.42%
India 11.13%
Thailand 8.91%
South Korea 6.44%
United Arab Emirates 5.98%
Indonesia 5.98%
Philippines 5.06%
Malaysia 4.88%
Czech Republic 4.04%
Hungary 3.86%
Poland 2.83%
Pakistan 2.72%
Qatar 2.42%
Chile 0.98%
Greece 0.97%
Brazil 0.93%
Egypt 0.53%
Turkey 0.41%

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.

Prior to December 18, 2015 the name of the fund was the SSGA Emerging Markets Fund.

Unless otherwise noted all information contained herein is that of the State Street Disciplined Emerging Markets Equity Fund - Class A

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 Laine is a Senior Portfolio Manager at State Street Global Advisors, primarily responsible for emerging market equity strategies. He is the lead portfolio manager for the active emerging market large and small cap portfolios and assists in the management of the frontier markets strategies. His expertise is in Central and Eastern Europe and Latin America. He has been with the firm since 2007 and has worked on emerging markets since 1994.

Prior to joining the firm, Chris was a portfolio manager at a large European hedge fund focusing on emerging markets, with a long-short style. 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.

Senior Portfolio Manager Chee Ooi Managing Director Show Bio

Chee is a Managing Director of State Street Global Advisors and a Senior Portfolio Manager for the Active Quantitative Equity team. In this role, he is the lead portfolio manager for the Global Defensive Equity and State Street Disciplined International Equity strategies. His core responsibility also includes contributing to the team's research, strategy and business development effort.

Chee has over twenty years of experience in quantitative equity research and investment management. Prior to joining SSGA, he was a Director and Senior Quantitative Analyst at Citi's Global Quantitative Research group in New York. His work at Citi was focused on the development of quantitative stock selection models and providing investment, risk management and portfolio construction solutions for the firm's institutional clients. In that capacity, he was also responsible for the management of a suite of proprietary market neutral strategies. Chee started his career in finance at Salomon Brothers as an equity derivatives research analyst.

Chee holds a BS in Electrical Engineering and Computer Science, with a minor in Economics from the Massachusetts Institute of Technology. He has published papers in the Journal of Portfolio Management on his pioneering work on classification and regression tree model in stock selection and has presented at industry conferences. In 2016, SSGA Global Defensive Equity strategy a strategy that Chee launched in 2009 and has served as the lead portfolio manager since inception, was voted by the Institutional Investor magazine as the Global Core Equity strategy of the year.

MSCI Emerging Market Index

Important Risk Information

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

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.

Low volatility funds can exhibit relative low volatility and excess returns compared to the Index over the long term; both portfolio investments and returns may differ from those of the Index. The fund may not experience lower volatility or provide returns in excess of the Index and may provide lower returns in periods of a rapidly rising market. Active stock selection may lead to added risk in exchange for the potential outperformance relative to the Index.

Quantitative investing assumes that future performance of a security relative to other securities may be predicted based on historical economic and financial factors, however, any errors in a model used might not be detected until the fund has sustained a loss or reduced performance related to such errors.