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State Street Disciplined Emerging Markets Equity Fund - Class N

The Class N Share Class is closed to new accounts as of August 7, 2014.

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   12/11/2016
Ticker Symbol SSEMX
Primary Benchmark MSCI Emerging Market Index
CUSIP 784924789
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 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.

Inception Date 03/01/1994
Investment Manager SSGA Funds Management, Inc.
Management Team Active Quantitative Equities
Distributor State Street Global Markets, LLC
Distribution Frequency Annually

Fund Characteristics

As of   11/30/2016
Dividend Yield

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

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.

Number of Holdings 103
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.

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 $19,472.06 M


As of   12/08/2016
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.

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.


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   12/08/2016
NAV $7.16
Percent Change 0.42%
Price Change $0.03
Shares Outstanding 12.80 M
Total Net Assets $91.69 M

Fund Documents

Fund Performance

NAV Month End
As of  10/31/2016
NAV Quarter End
As of  09/30/2016
1 Month -1.07% -0.40%
QTD -1.07% 6.09%
YTD 5.41% 6.54%
1 Year -0.88% 5.69%
3 Year -6.17% -4.62%
5 Year -2.21% 0.46%
10 Year 0.87% 1.48%
5.42% 5.49%

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 $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 (State Street Disciplined Emerging Markets Equity 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 of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Month End
Fund at NAV 10/31/2016 -1.07% -1.07% 5.41% -0.88% -6.17% -2.21% 0.87% 5.42%
MSCI Emerging Market Index 10/31/2016 0.24% 0.24% 16.30% 9.27% -2.05% 0.55% 3.49% 4.75%
Quarter End
Fund at NAV 09/30/2016 -0.40% 6.09% 6.54% 5.69% -4.62% 0.46% 1.48% 5.49%
MSCI Emerging Market Index 09/30/2016 1.29% 9.03% 16.02% 16.78% -0.56% 3.03% 3.94% 4.75%

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: 1.42%

Net Expense Ratio: 1.25%

Performance Graphs

Month End as of 10/31/2016

Fund Inception Date: 03/01/1994

Index Inception Date: 03/01/1994

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Fund Top Holdings

Subject to change.

As of   11/30/2016
Name Weight
Tencent Holdings Ltd. 3.36 %
Dubai Islamic Bank PJSC 3.08 %
Qatar National Bank SAQ 2.87 %
Taiwan Semiconductor Manufacturing Co. Ltd. 2.83 %
China Mobile Limited 2.78 %
PT Telekomunikasi Indonesia Tbk Class B 2.62 %
Commercial Bank (Q.S.C.) 2.52 %
Metro Pacific Investments Corporation 2.51 %
Chunghwa Telecom Co. Ltd 2.47 %
Download All Holdings XLS

Fund Sector Allocation

As of  11/30/2016
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Fund Country Weights

As of  11/30/2016
China 18.40%
Taiwan 12.25%
India 10.64%
Thailand 7.84%
Malaysia 7.14%
South Korea 6.20%
United Arab Emirates 5.92%
Qatar 5.88%
Philippines 5.51%
Indonesia 4.63%
Unassigned 3.65%
Hungary 3.24%
Czech Republic 3.05%
Poland 2.12%
Chile 1.25%
Brazil 0.69%
Greece 0.57%
Egypt 0.42%
Mexico 0.34%
Turkey 0.26%
Oman 0.01%

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 N.

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 is a Senior Portfolio Manager of State Street Global Advisors on the Active Emerging Markets team. He is also a member of the Active EM investment committee, which is responsible for establishing all the portfolio positions for each of the active emerging market strategies.

Currently, he has day to day responsibility for Emerging Europe, the Middle East, and Africa, and is the lead portfolio manager for the Emerging Market Select Strategy. Chris joined SSGA in 2007. Previously, Chris had been the Head of Asset Allocation for a European-based Emerging Markets Hedge Fund.

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 Vice President Show Bio
Chee is a Vice President of State Street Global Advisors. He is a Senior Portfolio Manager in the firm's Global Active Quantitative Equity Team and is responsible for research and portfolio management across the quantitative international active equity strategies. Currently based in Boston, Chee joined SSGA in 2008. Prior to joining SSGA, he was a Director and Senior Quantitative Analyst in Citigroup's Global Quantitative Research group in New York and started his career in finance at Salomon Brothers as a derivatives research analyst. Chee has 13 years of quantitative research and modeling experience on the sell-side. He has published papers in the Journal of Portfolio Management. He also pioneered the application of classification and regression tree technique in stock selection. Chee holds a BS in Electrical Engineering and Computer Science from the Massachusetts Institute of Technology.

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.