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SSILX

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

As of   10/24/2018
Ticker Symbol SSILX
Primary Benchmark MSCI EAFE Net Dividend Index
CUSIP 784924276
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.

1.44%
Net Expense Ratio

^The Fund's investment adviser, SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM"), is contractually obligated until December 31, 2018 (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, 2018 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.

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

As of   09/30/2018
Active Share

Active Share measures the degree of overlap between the underlying holdings of the Fund against the underlying holdings in the fund's benchmark. A Fund’s underlying holdings identical to its benchmark would have an active share of 0.00%, whereas, the more the underlying holdings are different from the benchmark, the larger the active share will be with a maximum of 100%.

76.64%
Dividend Yield

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

3.78%
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.

11.57%
Number of Holdings 193
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.

1.54
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.

11.95
Weighted Average Market Cap $44,135.06 M

Yields

As of   10/22/2018
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.

2.12%
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.

1.89%

Fund Net Asset Value

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

As of   10/22/2018
NAV $10.42
Percent Change -0.57%
Price Change -$0.06
Shares Outstanding 640,703
Total Net Assets $6.68 M

Fund Documents

Fund Performance

Month End
As of  09/30/2018
Quarter End
As of  09/30/2018
At NAV At POP At NAV At POP
1 Month 1.19% -4.15% 1.19% -4.15%
QTD 0.91% -4.40% 0.91% -4.40%
YTD -5.62% -10.56% -5.62% -10.56%
1 Year -3.92% -8.94% -3.92% -8.94%
3 Year 5.96% 4.08% 5.96% 4.08%
5 Year 3.67% 2.55% 3.67% 2.55%
10 Year 3.64% 3.08% 3.64% 3.08%
Inception 
4.16% 3.92% 4.16% 3.92%

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 09/30/2018 1.19% 0.91% -5.62% -3.92% 5.96% 3.67% 3.64% 4.16%
Fund at POP 09/30/2018 -4.15% -4.40% -10.56% -8.94% 4.08% 2.55% 3.08% 3.92%
MSCI EAFE Net Dividend Index 09/30/2018 0.87% 1.35% -1.43% 2.74% 9.23% 4.42% 5.38% 5.37%
Quarter End
Fund at NAV 09/30/2018 1.19% 0.91% -5.62% -3.92% 5.96% 3.67% 3.64% 4.16%
Fund at POP 09/30/2018 -4.15% -4.40% -10.56% -8.94% 4.08% 2.55% 3.08% 3.92%
MSCI EAFE Net Dividend Index 09/30/2018 0.87% 1.35% -1.43% 2.74% 9.23% 4.42% 5.38% 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.

Gross Expense Ratio: 1.44%

Net Expense Ratio: 1.20%

Performance Graphs

Quarter End as of 09/30/2018

Fund Inception Date: 03/07/1995

Index Inception Date: 03/01/1995

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Fund Top Holdings

Subject to change.

Subject to change.

As of   09/30/2018
Name Weight
Novartis AG 2.79 %
Toyota Motor Corp. 2.38 %
GlaxoSmithKline plc 2.02 %
Sanofi 1.85 %
Eni S.p.A. 1.83 %
Astellas Pharma Inc. 1.77 %
Wesfarmers Limited 1.69 %
DNB ASA 1.61 %
Swedish Match AB 1.60 %
Zurich Insurance Group Ltd 1.57 %
Download All Holdings XLS

Fund Sector Allocation

As of  09/30/2018
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Fund Country Weights

As of  09/30/2018
Japan 25.12%
United Kingdom 15.48%
Australia 9.20%
France 8.48%
Switzerland 8.23%
Germany 6.08%
Sweden 4.77%
Spain 4.08%
Norway 3.56%
Hong Kong 3.55%
Netherlands 2.93%
Italy 2.82%
Finland 2.22%
Denmark 1.88%
Israel 0.80%
Belgium 0.59%
Ireland 0.11%
Austria 0.10%

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

Senior Portfolio Manager Adel Daghmouri Vice President Show Bio

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.

Portfolio Manager Stuart Hall Vice President Show Bio

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.

MSCI EAFE Net Dividend Index

The MSCI EAFE Net Dividend Index (Europe, Australasia, Far East) is a free float¿adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US & Canada. The MSCI EAFE Index consists of the following 21 developed market country indexes: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.

 

Important Risk Information

In addition to normal risks associated with equity investing, international investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, and from adverse political, social and economic instability in other nations.

Risk associated with equity investing include stock values which may fluctuate in response to the activities of individual companies and general market and economic conditions.

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

Companies with large market capitalizations go in and out of favor based on market and economic conditions. Larger companies tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the value of the security may not rise as much as companies with smaller market capitalizations.

Investments in mid/small-sized companies may involve greater risks than in those of larger, better known companies.

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.