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SSILX

SSGA International Stock Selection Fund - Class A

Fund Objective

SSGA 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   02/25/2017
Ticker Symbol SSILX
Primary Benchmark MSCI EAFE Net Dividend Index
CUSIP 784924276
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.

1.47%
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 0.75% 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.

1.20%
Inception Date 07/07/2014
Investment Manager SSGA Funds Management, Inc.
Management Team Active Quantitative Equities
Distributor State Street Global Markets, LLC
Distribution Frequency Annually
Exchange NASDAQ REGULAR MARKET

Fund Characteristics

As of   01/31/2017
Dividend Yield

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

3.38%
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.

8.65%
Number of Holdings 111
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.

1.45
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

Closing price divided by the sum of the forecasted fiscal year earnings per share.

13.17
Weighted Average Market Cap $37,227.58 M

Yields

As of   02/23/2017
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.

1.60%
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.

1.39%

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 $10.45
Percent Change 0.29%
Price Change $0.03
Shares Outstanding 568,411
Total Net Assets $5.94 M

Fund Documents

Fund Performance

Month End
As of  01/31/2017
Quarter End
As of  12/31/2016
At NAV At POP At NAV At POP
1 Month 3.41% -2.00% 3.03% -2.39%
QTD 3.41% -2.00% -0.19% -5.46%
YTD 3.41% -2.00% 0.00% -5.29%
1 Year 10.10% 4.33% 0.00% -5.29%
3 Year 1.05% -0.74% -1.15% -2.90%
5 Year 6.17% 5.04% 6.70% 5.55%
10 Year -0.07% -0.61% -0.36% -0.90%
Inception 
3.95% 3.70% 3.81% 3.56%

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 (SSGA 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
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
03/07/1995
Month End
Fund at NAV 01/31/2017 3.41% 3.41% 3.41% 10.10% 1.05% 6.17% -0.07% 3.95%
Fund at POP 01/31/2017 -2.00% -2.00% -2.00% 4.33% -0.74% 5.04% -0.61% 3.70%
MSCI EAFE Net Dividend Index 01/31/2017 2.90% 2.90% 2.90% 12.03% 0.71% 6.04% 0.97% 4.92%
Quarter End
Fund at NAV 12/31/2016 3.03% -0.19% 0.00% 0.00% -1.15% 6.70% -0.36% 3.81%
Fund at POP 12/31/2016 -2.39% -5.46% -5.29% -5.29% -2.90% 5.55% -0.90% 3.56%
MSCI EAFE Net Dividend Index 12/31/2016 3.42% -0.71% 1.00% 1.00% -1.60% 6.53% 0.75% 4.80%

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: 1.47%

Net Expense Ratio: 1.20%

Performance Graphs

Month End as of 01/31/2017

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   01/31/2017
Name Weight
Toyota Motor Corp. 2.14 %
Sanofi 2.06 %
Bayer AG 2.00 %
Nippon Telegraph and Telephone Corporation 1.91 %
Rio Tinto plc 1.86 %
ABB Ltd. 1.85 %
ING Groep NV 1.81 %
Suzuki Motor Corp. 1.76 %
Novartis AG 1.72 %
Societe Generale S.A. Class A 1.69 %
Download All Holdings XLS

Fund Sector Allocation

As of  01/31/2017
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Fund Country Weights

As of  01/31/2017
Japan 23.59%
United Kingdom 15.18%
Switzerland 11.43%
France 9.61%
Australia 7.37%
Germany 6.30%
Netherlands 5.08%
Hong Kong 3.77%
Spain 3.67%
Norway 3.59%
New Zealand 2.49%
Sweden 2.41%
Denmark 2.16%
Finland 1.80%
Singapore 0.59%
Israel 0.42%
Ireland 0.29%
Italy 0.21%
Unassigned 0.02%

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 SSGA 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.

Active Quantitative Equities

Senior Portfolio Manager Adel Daghmouri Vice President Show Bio
Adel is a Senior Portfolio Manager in the Global Quantitative Active 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.