State Street International Stock Selection Fund - Class A
Fund Objective
The State Street International Stock Selection Fund (the "Fund") seeks to provide long-term capital growth by investing primarily in securities of foreign issuers.
Fund Information
| Ticker Symbol | SSILX | |
| Primary Benchmark | MSCI EAFE Net Dividend Index | |
| CUSIP | 784924276 | |
| Options Available | No | |
| Gross Expense Ratio | 1.48% | |
| Net Expense Ratio |
^The Fund's investment adviser, SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM"), is contractually obligated until December 31, 2020 (i) to waive up to the full amount of the advisory fee payable by the Fund, and/or (ii) to reimburse the Fund to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and expenses, and distribution, shareholder servicing and subtransfer agency fees) exceed 0.75% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to December 31, 2020 except with the approval of the Fund's Board of Trustees. 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 and shall continue until at least December 31, 2020. |
1.20% |
| 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
Yields
| 30 Day SEC Yield | 1.81% | |
| 30 Day SEC Yield (Unsubsidized) | 1.55% |
Fund Net Asset Value
| NAV | $9.32 | |
| Percent Change | -0.21% | |
| Price Change | -$0.02 | |
| Shares Outstanding | 442,894 | |
| Total Net Assets | $4.13 M |
Fund Documents
Fund Performance
| Month End As of 07/31/2020 |
Quarter End As of 06/30/2020 |
|||
| At NAV | At POP | At NAV | At POP | |
| 1 Month | 1.69% | -3.63% | 3.50% | -1.88% |
| QTD | 1.69% | -3.63% | 15.49% | 9.37% |
| YTD | -12.34% | -16.94% | -13.80% | -18.32% |
| 1 Year | -5.45% | -10.46% | -10.22% | -14.89% |
| 3 Year | -4.51% | -6.21% | -4.16% | -5.87% |
| 5 Year | -1.02% | -2.08% | -1.12% | -2.18% |
| 10 Year | 3.09% | 2.53% | 4.02% | 3.46% |
| Inception |
3.36% | 3.15% | 3.31% | 3.09% |
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.
Boston, MA 02110
ABA# 0110-0002-8
DDA#9904-631-0
Attn: SSGA (State Street International Stock Selection 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
1 Iron Street
Boston, MA 02210
1-800-647-7327
Performance Chart
| Annualized | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| As of | 1 Month | QTD | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception 03/07/1995 |
|
| Month End | |||||||||
| Fund at NAV | 07/31/2020 | 1.69% | 1.69% | -12.34% | -5.45% | -4.51% | -1.02% | 3.09% | 3.36% |
| Fund at POP | 07/31/2020 | -3.63% | -3.63% | -16.94% | -10.46% | -6.21% | -2.08% | 2.53% | 3.15% |
| MSCI EAFE Net Dividend Index | 07/31/2020 | 2.33% | 2.33% | -9.28% | -1.67% | 0.63% | 2.10% | 5.02% | 4.84% |
| Quarter End | |||||||||
| Fund at NAV | 06/30/2020 | 3.50% | 15.49% | -13.80% | -10.22% | -4.16% | -1.12% | 4.02% | 3.31% |
| Fund at POP | 06/30/2020 | -1.88% | 9.37% | -18.32% | -14.89% | -5.87% | -2.18% | 3.46% | 3.09% |
| MSCI EAFE Net Dividend Index | 06/30/2020 | 3.40% | 14.88% | -11.34% | -5.13% | 0.81% | 2.05% | 5.73% | 4.76% |
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: 1.48%
Net Expense Ratio: 1.20%
Performance Graphs
Quarter End as of 06/30/2020
Fund Inception Date: 03/07/1995
Index Inception Date: 03/01/1995
Fund Top Holdings
| Name | Weight |
|---|---|
| Nestle S.A. | 3.36 % |
| Roche Holding AG | 2.74 % |
| Novartis AG | 2.07 % |
| Novo Nordisk A/S Class B | 1.85 % |
| GlaxoSmithKline plc | 1.59 % |
| Allianz SE | 1.58 % |
| Toyota Motor Corp. | 1.58 % |
| Rio Tinto plc | 1.50 % |
| Schneider Electric SE | 1.46 % |
| Deutsche Telekom AG | 1.34 % |
Fund Sector Allocation
Fund Country Weights
| Japan | 25.67% |
| United Kingdom | 13.36% |
| Switzerland | 12.01% |
| France | 9.27% |
| Australia | 8.26% |
| Germany | 7.99% |
| Netherlands | 5.82% |
| Denmark | 4.05% |
| Sweden | 3.35% |
| Italy | 3.30% |
| Norway | 1.86% |
| Hong Kong | 1.79% |
| Finland | 0.95% |
| Spain | 0.92% |
| Singapore | 0.48% |
| Austria | 0.43% |
| Belgium | 0.36% |
| New Zealand | 0.12% |
Fund Documents
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.
Unless otherwise noted all information contained herein is that of the State Street International Stock Selection Fund - Class A.
The financial products described herein are indexed to an MSCI index. The financial products referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such financial products or any index on which such financial products are based.
The MSCI EAFE® Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure developed market equity performance, excluding the US & Canada. As of December 2003 the MSCI EAFE Index consisted of the following 21 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. The Index is unmanaged and can not be invested in directly.
Prior to 10/12/2018, the State Street International Stock Selection Fund - Class A was known as the SSGA International Stock Selection Fund - Class A.
Active Quantitative Equities
Adel is a Senior Portfolio Manager in the Active Quantitative Equity Group, where he focuses on managing global investment strategies, product development and quantitative research within developed markets. Prior to this he was a founding member of the quantitative Canadian active equity team responsible for portfolio management across active, enhanced and market-neutral strategies.
Since joining the firm in 1998, Adel has also worked as a Portfolio Manager in the Global Structured Products Group focusing on a broad range of international and domestic strategies.
Adel holds a Bachelor of Business Administration from Laval University and a Master of Science degree in Finance from HEC Montreal.
Stuart is a Vice President of State Street Global Advisors and a Portfolio Manager in the Active Quantitative Equity Team. His responsibilities include investment research and managing of both International and US Active and Enhanced Strategies. Prior to this role Stuart was a Portfolio Manager in the Global Active Quantitative Equity Team where his responsibilities included management of the global and international small cap strategies, coordination with the European team across all group strategies as well as research within the team.
Stuart originally joined SSGA in 2004 as a Quantitative Research Analyst in the Advanced Research Center (ARC). While with the ARC, Stuart worked with the Global Active Quantitative Equity Team in developing the Growth Capability model used in both the International Alpha Select and Global Alpha Strategies. He also played a key role in developing their Swiss Alpha Strategy based on his earlier research and implemented in the International Small Cap Strategy. His research has also extended to Transaction Cost Analysis and to a number of strategies within the Global Enhanced Equity Group.
Stuart graduated from the University of New Hampshire with degrees in Mathematics and Economics and from Boston College with a Master of Science in Finance. In addition, he has earned the Chartered Financial Analyst Designation and is a member of the CFA Boston Society.