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SSZIX

State Street Disciplined International Equity Fund - Class I

Fund Objective

The State Street Disciplined International Equity Fund (the "Disciplined International Equity Fund" or the "Fund") seeks to provide long-term capital growth.

Fund Information

As of   05/29/2017
Ticker Symbol SSZIX
Primary Benchmark MSCI EAFE Net Dividend Index
CUSIP 85749Q554
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.

5.81%
Net Expense Ratio

The Fund's investment adviser, SSGA Funds Management, Inc., is contractually obligated until April 30, 2018 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 expenses, and any class-specific expenses, such as distribution, shareholder servicing, administration and sub-transfer agency fees) exceed 0.85% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2018 except with the approval of the Fund's Board of Trustees.

1.05%
Inception Date 02/18/2016
Investment Manager SSGA Funds Management, Inc.
Management Team Active Quantitative Equities
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annual
Exchange NASDAQ REGULAR MARKET

Fund Characteristics

As of   04/30/2017
Dividend Yield 2.94%
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.

8.95%
Number of Holdings 95
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.

1.70
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

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

15.18
Weighted Average Market Cap $26,985.45 M

Yields

As of   05/25/2017
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.

1.74%
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.

-8.64%

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   05/25/2017
NAV $11.50
Percent Change 0.52%
Price Change $0.06
Shares Outstanding 300,000
Total Net Assets $3.45 M

Fund Documents

Fund Performance

NAV Month End
As of  04/30/2017
NAV Quarter End
As of  03/31/2017
1 Month 2.70% 2.38%
QTD 2.70% 7.72%
YTD 10.62% 7.72%
1 Year 6.39% 5.06%
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Inception 
11.84% 10.11%

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 $1,000,000.00
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: State Street Disciplined International Equity Fund - Class I
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
02/18/2016
Month End
Fund at NAV 04/30/2017 2.70% 2.70% 10.62% 6.39% N/A N/A N/A 11.84%
MSCI EAFE Net Dividend Index 04/30/2017 2.54% 2.54% 9.97% 11.29% N/A N/A N/A 17.49%
Quarter End
Fund at NAV 03/31/2017 2.38% 7.72% 7.72% 5.06% N/A N/A N/A 10.11%
MSCI EAFE Net Dividend Index 03/31/2017 2.75% 7.25% 7.25% 11.67% N/A N/A N/A 16.24%

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: 5.81%

Net Expense Ratio: 1.05%

Performance Graphs

Month End as of 04/30/2017

Fund Inception Date: 02/18/2016

Index Inception Date: 03/31/1986

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Fund Top Holdings

Subject to change.

Subject to change.

As of   04/30/2017
Name Weight
Sika AG 1.53 %
OSRAM Licht AG 1.51 %
Mondi plc 1.49 %
Aena SA 1.48 %
Adecco Group AG 1.43 %
HOYA CORPORATION 1.43 %
Sonova Holding AG 1.42 %
Actividades de Construccion y Servicios SA 1.41 %
VINCI SA 1.40 %
Sanofi 1.39 %
Download All Holdings XLS

Fund Sector Allocation

As of  04/30/2017
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Fund Country Weights

As of  04/30/2017
Japan 28.04%
Hong Kong 11.53%
Switzerland 9.80%
United Kingdom 8.27%
Germany 7.52%
Australia 7.13%
France 6.35%
Singapore 4.22%
Spain 4.20%
Sweden 3.56%
Finland 2.58%
Norway 2.41%
Belgium 2.11%
Denmark 1.26%
Netherlands 1.01%

Unless otherwise noted all information contained herein is that of the State Street Disciplined International Equity Fund - Class I.

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.

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.
Senior Portfolio Manager Chee Ooi Managing Director Show Bio

Chee is a Managing Director of State Street Global Advisors and a Senior Portfolio Manager for the Active Quantitative Equity team. In this role, he is the lead portfolio manager for the Global Defensive Equity and State Street Disciplined International Equity strategies. His core responsibility also includes contributing to the team's research, strategy and business development effort.

Chee has over twenty years of experience in quantitative equity research and investment management. Prior to joining SSGA, he was a Director and Senior Quantitative Analyst at Citi's Global Quantitative Research group in New York. His work at Citi was focused on the development of quantitative stock selection models and providing investment, risk management and portfolio construction solutions for the firm's institutional clients. In that capacity, he was also responsible for the management of a suite of proprietary market neutral strategies. Chee started his career in finance at Salomon Brothers as an equity derivatives research analyst.

Chee holds a BS in Electrical Engineering and Computer Science, with a minor in Economics from the Massachusetts Institute of Technology. He has published papers in the Journal of Portfolio Management on his pioneering work on classification and regression tree model in stock selection and has presented at industry conferences. In 2016, SSGA Global Defensive Equity strategy a strategy that Chee launched in 2009 and has served as the lead portfolio manager since inception, was voted by the Institutional Investor magazine as the Global Core Equity strategy of the year.

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

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.

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.

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.