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SSFEX

State Street Aggregate Bond Index Fund - Class K

Fund Objective

The State Street Aggregate Bond Index Fund (the "Fund") seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the U.S. dollar denominated investment grade bond market over the long term.

Fund Information

As of   02/25/2017
Ticker Symbol SSFEX
Primary Benchmark Bloomberg Barclays U.S. Aggregate Index
CUSIP 857492524
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.

0.44%
Net Expense Ratio

^The Fund’s investment adviser, SSGA Funds Management, Inc. (the “Adviser” or “SSGA Funds”), is contractually obligated until April 30, 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, any class-specific expenses, such as distribution, shareholder servicing, sub-transfer agency and administration expenses) exceed 0.04% of average daily

The Adviser, which also serves as investment adviser to the Portfolio, has contractually agreed to waive its management fee and/or reimburse the Portfolio for expenses in an amount equal to any money market acquired fund fees and expenses resulting from the Portfolio’s TBA investments. This waiver and/or reimbursement does not provide for the recoupment by the Adviser of any amounts waived or reimbursed. This waiver and/or reimbursement may not be terminated except with the approval of the Portfolio’s Board of Trustees.

0.09%
Inception Date 09/19/2014
Investment Manager SSGA Funds Management, Inc.
Management Team Global Fixed Income, Cash and Currency
Distributor State Street Global Markets, LLC
Distribution Frequency Monthly
Exchange NASDAQ REGULAR MARKET

Fund Characteristics

As of   01/31/2017
Average Yield To Worst

For callable and/or puttable securities, the minimum value of the yield to maturity, yield to put, and yield to call. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

2.59%
Effective Average Maturity 8.15 years
Number of Holdings 1,827
Portfolio Duration

Portfolio Duration

An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates.  Calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps.  Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

5.95 years

Yields

As of   02/24/2017
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.

1.99%
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.

1.79%

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   02/23/2017
NAV $9.80
Shares Outstanding 8.69 M
Total Net Assets $85.21 M

Fund Documents

Fund Performance

NAV Month End
As of  01/31/2017
NAV Quarter End
As of  12/31/2016
1 Month 0.21% 0.02%
QTD 0.21% -3.08%
YTD 0.21% 2.27%
1 Year 1.13% 2.27%
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Inception 
2.11% 2.10%

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: SSGA (State Street Aggregate Bond Index 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
09/19/2014
Month End
Fund at NAV 01/31/2017 0.21% 0.21% 0.21% 1.13% N/A N/A N/A 2.11%
Bloomberg Barclays U.S. Aggregate Index 01/31/2017 0.20% 0.20% 0.20% 1.45% N/A N/A N/A 2.30%
Quarter End
Fund at NAV 12/31/2016 0.02% -3.08% 2.27% 2.27% N/A N/A N/A 2.10%
Bloomberg Barclays U.S. Aggregate Index 12/31/2016 0.14% -2.98% 2.65% 2.65% N/A N/A N/A 2.30%

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: 0.44%

Net Expense Ratio: 0.09%

Performance Graphs

Month End as of 01/31/2017

Fund Inception Date: 09/19/2014

Index Inception Date: 01/01/1986

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Fund Top Holdings

Subject to change.

As of   01/31/2017
Name Weight
US/T 36.20 %
FNMA 13.54 %
FHLMC 8.34 %
GNMA 7.51 %
JPM 0.61 %
FHLB 0.59 %
KFW 0.58 %
BAC 0.54 %
GS 0.50 %
EIB 0.48 %
Download All Holdings XLS

Fund Sector Allocation

As of  01/31/2017
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Unless otherwise noted all information contained herein is that of the State Street Aggregate Bond Index Fund - Class K

Intellectual Property Information: BLOOMBERG®, a trademark and service mark of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a trademark and service mark of Barclays Bank Plc, have each been licensed for use in connection with the listing and trading of the SPDR Bloomberg Barclays ETFs.

Prior to 10/31/2016, the Bloomberg Barclays U.S. Aggregate Index was known as the Barclays U.S. Aggregate Index.

Global Fixed Income, Cash and Currency

Senior Portfolio Manager Mahesh Jayakumar Vice President Show Bio

Mahesh is a Vice President of the Fixed Income, Currency and Cash Investments team at State Street Global Advisors and has been a member of the team since 2010. In this current role as a portfolio manager in the Fixed Income Beta Solutions group, he is responsible for managing several funds and ETF's spanning diverse areas such as US Aggregate strategies, Global Treasuries/Inflation strategies, Government/Credit portfolios, Green bonds and custom or client directed mandates.

Through his membership in the Corporate Responsibility Working Group at State Street and other ESG related activities, Mahesh is active in the growth of Environmental Finance within the company. He has also held prior roles in State Street Global Markets where he spent time in the Investor Behavior Research Team (IBRT) at State Street Associates working on the research and development of quantitative market indicators.

Mahesh holds an MBA from the MIT Sloan School of Management, MS in Computer Science from Boston University and BS in Information Systems from Purdue University. He has earned the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute and Boston Security Analysts Society. He has also earned the Financial Risk Manager (FRM) designation and is a member of the Global Association of Risk Professionals (GARP).

Portfolio Manager Joanna Madden Vice President Show Bio

Joanna Madden is a Vice President at State Street Global Advisors and a Portfolio Manager in the Fixed Income Beta Solutions team since 2013.

Previously, she was a Portfolio Manager within the US Cash Management Group responsible for short term liquidity investments across all the cash and securities lending portfolios managed in Boston. She joined the Boston group in April 2010 after working as a Portfolio Manager with the London Cash Management Group.

Prior to her portfolio management role, she was a Product Analyst for the London Cash Management Group where she provided analytical and business support. Before joining SSGA in London, Joanna worked as an Operations Specialist supporting the Boston Cash Management Group.

Joanna received a Bachelor of Science degree in Political Science from Loyola University of Chicago, Illinois.

Bloomberg Barclays U.S. Aggregate Index

The Bloomberg Barclays U.S. Aggregate Index provides a measure of the performance of the U.S. dollar denominated investment grade bond market, which includes investment grade (must be Baa3/BBB- or higher using the middle rating of Moody's Investor Service, Inc., Standard & Poor's, and Fitch Inc.) government bonds, investment grade corporate bonds, mortgage pass through securities, commercial mortgage backed securities and asset backed securities that are publicly for sale in the United States. The securities in the U.S. Aggregate Index must have at least 1 year remaining to maturity and must have $250 million or more of outstanding face value. Asset backed securities must have a minimum deal size of $500 million and a minimum tranche size of $25 million. For commercial mortgage backed securities, the original aggregate transaction must have a minimum deal size of $500 million, and a minimum tranche size of $25 million; the aggregate outstanding transaction sizes must be at least $300 million to remain in the index. In addition, the securities must be U.S. dollar denominated, fixed rate, non convertible, and taxable. Certain types of securities, such as flower bonds, TINs, and state and local government series bonds are excluded from the U.S. Aggregate Index. Also excluded from the U.S. Aggregate Index are structured notes with embedded swaps or other special features, private placements, floating rate securities and Eurobonds. The U.S. Aggregate Index is market capitalization weighted and the securities in the Index are updated on the last business day of each month.

Important Risk Information

The values of debt securities may decrease as a result of many factors, including, by way of example, general market fluctuations; increases in interest rates; actual or perceived inability or unwillingness of issuers, guarantors or liquidity providers to make scheduled principal or interest payments; illiquidity in debt securities markets; and prepayments of principal, which often must be reinvested in obligations paying interest at lower rates. Investments in mortgage securities are subject to prepayment risk, which can limit the potential for gain during a declining interest rate environment and increase the potential for loss in a rising interest rate environment.

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