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        State Street Australian Equity Fund

        Overview Performance Holdings Documents Purchase Information More Insights
        NAV
        AUD $1.2432
        as of 20 Dec 2024
        Management Costs
        0.7% p.a.
        Base Currency
        AUD
        Fund Size
        AUD $54.9 mn
        as of 30 Nov 2024
        Buy/Sell Spread
        0.20%/0.20%

        Quick Links

        Key Features

        • High Conviction, Benchmark Unaware - rather than building stock positions dictated by the underlying benchmark weight, the fund explores the market's full opportunity set, constructing a high conviction portfolio based on total return and total risk characteristics.
        • Active Stock Selection - our stock selection approach employs core themes including quality, value and sentiment.
        • Human Led, Research Tested - only our best investment ideas survive the rigorous research of our investment team.
        • Core Active Exposure - a potential core Australian equity exposure within a diversified portfolio.
        • Focus on Reducing Total Volatility - explicit focus on risk management at multiple stages in the investment process aims to reduce the impact of market volatility.

        Investment Objective

        The State Street Australian Equity Fund ("the Fund") aims to outperform the S&P/ASX 300 Accumulation Index, before management costs, over rolling 5-year periods with a lower level of variability.

        About this Benchmark

        The S&P/ASX 300 Index ("the Index") represents the 300 largest, publicly listed entities in the Australian equity market by float adjusted market capitalisation. The Index covers large-, mid-, and small-cap stocks.

        Investment Strategy

        The Fund invests in listed Australian securities selected from the Index. We create a portfolio that aims to deliver strong total returns with lower total variability of returns than the market index.

        The strategy looks for high quality companies that are reasonably valued and have an improving growth outlook and positive investor sentiment. Via security selection and portfolio construction, the implemented portfolio is expected to have a lower level of absolute risk (as defined by standard deviation of returns) than the market index, and the potential to provide total returns above the market index over the long term.

        The Fund is suitable for investors who seek:

        • long term, capital growth
        • active management; and
        • lower volatility than the broad equity market

        Fund Information as of 23 Dec 2024

        Benchmark S&P/ASX 300 Index
        Inception Date 30 Sep 2009
        Management Costs 0.7% p.a.
        Buy/Sell Spread 0.20%/0.20%
        Minimum Initial Investment AUD 25,000
        Pricing Daily
        Distribution Frequency Semi-Annually
        APIR Code SST0048AU
        ARSN Code 139 341 978
        ISIN AU60SST00480
        Research Ratings

        To request a copy of the Research House Rating Reports for this fund, please click here.

        Platform
        BT (inc Asgard)
        CFS FirstChoice
        CFS Edge
        Hub24 (inc Rhythm)
        Insignia (inc Expand Shadforth PS, MLC, Grow, Voyage, Wealthtrac)
        Macquarie Wrap
        Netwealth
        Powerwrap
        Praemium
        Ratings Information
        Morningstar Rated
        Lonsec Recommended (Oct 2024)
        Zenith Recommended (Jun 2024) 
        Zenith Lonsec Recommended

        Fund Pricing as of 20 Dec 2024

        NAV AUD $1.2432
        Application AUD $1.2456
        Redemption AUD $1.2408
        Most Recent NAV / NAV History

        Fund Characteristics as of 30 Nov 2024

        Dividend Yield

        Dividend Yield is the weighted average dividend yield of the stocks in the portfolio divided by the current market price of the stocks in the portfolio, as expressed as a percentage.

                 		4.49
        Price/Book

        The weighted harmonic average of each security’s price-to-book (P/B) ratio. P/B ratio is calculated by dividing the closing market price by the most recent reported book value for the last twelve months.

                 		2.34
        Price/Earnings FY1

        The weighted average of each security's price-to-earnings (P/E) ratio (1 year forward). P/E ratio FY1 is calculated by dividing the closing price by the mean EPS estimate for the next unreported fiscal year.

                 		15.22
        Price/Cash Flow

        The weighted harmonic average of each security's price-to-cash-flow (P/CF) ratio. P/CF ratio is calculated by dividing the closing market price by the cash flow per share as of the last fiscal year.

                 		8.28
        Return on Equity

        The weighted average of each security's 5 year return on equity (ROE).

                 		15.74
        Number of Holdings 49

        Index Characteristics as of 30 Nov 2024

        Dividend Yield

        Dividend Yield is the weighted average dividend yield of the stocks in the index divided by the current market price of the stocks in the index, as expressed as a percentage.

                 		3.36
        Price/Book

        The weighted harmonic average of each security’s price-to-book (P/B) ratio. P/B ratio is calculated by dividing the closing market price by the most recent reported book value for the last twelve months.

                 		2.42
        Price/Earnings FY1

        The weighted average of each security's price-to-earnings (P/E) ratio (1 year forward). P/E ratio FY1 is calculated by dividing the closing price by the mean EPS estimate for the next unreported fiscal year.

                 		18.91
        Price/Cash Flow

        The weighted harmonic average of each security's price-to-cash-flow (P/CF) ratio. P/CF ratio is calculated by dividing the closing market price by the cash flow per share as of the last fiscal year.

                 		11.74
        Return on Equity

        The weighted average of each security's 5 year return on equity (ROE).

                 		15.24
        Number of Holdings 298

        Fund Performance

        • Fund Inception Date: 30 Sep 2009

        as of 30 Nov 2024

        As Of 1 Month 3 Months 1 Year 3 Years (p.a.) 5 Years (p.a.) 7 Years (p.a.) 10 Years (p.a.) 15 Years (p.a.) Since Inception (p.a.)
        30 Sep 2009
        Fund (Gross) 30 Nov 2024 3.56% 4.00% 14.89% 3.44% 2.84% 5.33% 6.80% 8.67% 8.59%
        Fund (Net) 30 Nov 2024 3.50% 3.82% 14.09% 2.72% 2.11% 4.56% 6.01% 7.28% 7.19%
        Growth 30 Nov 2024 3.50% 3.82% 7.84% -3.98% -3.46% -1.71% 0.55% 1.62% 1.60%
        Distribution 30 Nov 2024 0.00% 0.00% 6.25% 6.70% 5.57% 6.27% 5.46% 5.65% 5.59%
        Benchmark
        S&P/ASX 300 Index

        Prior to 31 January 2013 the performance benchmark for the State Street Australian Equity Fund was the S&P/ASX All Australian 200 Accumulation Index.

                 		30 Nov 2024 3.68% 5.48% 23.22% 9.12% 8.20% 9.18% 9.08% 8.33% 8.22%
        Difference (Gross) 30 Nov 2024 -0.13% -1.49% -8.33% -5.68% -5.36% -3.86% -2.27% 0.34% 0.38%
        Difference (Net) 30 Nov 2024 -0.18% -1.67% -9.13% -6.40% -6.09% -4.62% -3.07% -1.06% -1.02%

        Prior to 31 January 2013 the performance benchmark for the Fund was the S&P/ASX All Australian 200 Accumulation Index. Since inception performance and risk is calculated from 30 September 2009. Differences in the gross and net return prior to August 2013 are attributable to fluctuating MERs on the initial SSGA seed money. In August 2013, the MER on the Fund was capped at 79bps p.a. Any net performance numbers stated here or in external materials prior to this date will reflect a larger MER that is not attributable to investors going forward. Past performance is not a reliable indicator of future performance. Performance returns for periods of less than one year are not annualised. The Fund return figures contained herein reflect Total Returns and are provided on a net and gross of fees basis. The Total Return is the sum of the Growth (or Price) Return and Distribution Return which is shown net of management fees and costs Performance figures are calculated using end-of-month exit prices except for the 'Since Inception' return which is calculated using NAV prices for the pre 1 January 2010 period, and end-of-month exit prices thereafter, assume the reinvestment of distributions and make no allowance for tax. Net performance figures are after management and transaction costs. Gross performance figures are before management costs but after transaction costs. Index returns reflect capital gains and losses, income, and the reinvestment of dividends. Index returns are unmanaged and do not reflect the deduction of any fees or expenses. The calculation method for the value added returns may show rounding differences.

        Source: State Street Global Advisors

        Top Holdings as of 30 Nov 2024

        Name Fund Benchmark Active Weight
        COLES GROUP LTD 6.62% 0.97% 5.65%
        TELSTRA GROUP LTD 6.54% 1.77% 4.77%
        ANZ GROUP HOLDINGS LTD 4.90% 3.63% 1.27%
        RIO TINTO LTD 3.64% 1.70% 1.94%
        INSURANCE AUSTRALIA GROUP 3.64% 0.78% 2.85%
        ANSELL LTD 3.61% 0.19% 3.42%
        AGL ENERGY LTD 3.56% 0.26% 3.29%
        ORIGIN ENERGY LTD 3.53% 0.73% 2.80%
        AMCOR PLC-CDI 3.50% 0.36% 3.14%
        VENTIA SERVICES GROUP PTY LT 3.47% 0.15% 3.32%
        Download All Holdings: Monthly

        Sector Allocation as of 30 Nov 2024

        Name Fund Benchmark Active Weight
        Financials Ex Real Estate Investment Trusts 17.86% 33.43% -15.57%
        Industrials 15.14% 7.09% 8.04%
        Healthcare 13.55% 9.71% 3.84%
        Consumer Staples 13.47% 3.58% 9.89%
        Materials 10.91% 19.16% -8.25%
        Telecommunications Services 10.45% 3.82% 6.63%
        Utilities 7.09% 1.35% 5.74%
        Energy 5.93% 3.83% 2.10%
        Consumer Discretionary 4.15% 7.67% -3.52%
        Real Estate Investment Trusts 1.16% 6.84% -5.68%
        Information Technology 0.30% 3.52% -3.22%

        Sector reporting based on the Global Industry Classification Standard ("GICS") which was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P") and is licensed for use by State Street.

        Holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future. The holdings are taken from the accounting records of State Street Global Advisors which may differ from the official books and records of the custodian.

        Source: State Street Global Advisors

        Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions. Actively managed funds do not seek to replicate the performance of a specified index. The Fund is actively managed and may underperform its benchmarks. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. Investing in the Fund involves risks, including the risk that investors may receive little or no return on the investment or that investors may lose part or even all of the investment. This information should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security.

        Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed by State Street Global Advisors. The S&P/ASX 300 Index is a product of S&P Dow Jones Indices LLC, and has been licensed by State Street Global Advisors. The Fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, their respective affiliates, and none of S&P Dow Jones Indices LLC, Dow Jones, S&P, nor their respective affiliates make any representation regarding the advisability of investing in such product(s).

        Related Insights

        Issued by State Street Global Advisors, Australia Services Limited (AFSL Number 274900, ABN 16 108 671 441) ("SSGA, ASL").  Registered office: Level 14, 420 George Street, Sydney, NSW 2000, Australia · Telephone: 612 9240-7600 · Web: www.ssga.com. 

         

        SSGA, ASL is the Responsible Entity and the issuer for the State Street Managed Funds, which are unquoted, and the SPDR® ETFs which are quoted on the AQUA market of the ASX or listed on the ASX. SSGA ASL is the AQUA Product Issuer for the CHESS Depositary Interests (or "CDIs") created over interests in the SPDR® S&P 500® ETF Trust (“SPY”) which were first quoted on the AQUA market of the ASX on 13 Oct 2014. State Street Global Advisors Trust Company (ARBN 619 273 817) is the trustee of, and the issuer of interests in, the SPDR® S&P 500® ETF Trust, an ETF registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940 and principally listed and traded on NYSE Arca, Inc. under the symbol "SPY".

         

        This material is general information only and does not take into account your individual objectives, financial situation or needs and you should consider whether it is appropriate for you. You should seek professional advice and consider the product disclosure statement, available at ssga.com, before deciding whether to acquire or continue to hold the Funds. Target Market Determinations can also be found at ssga.com.  This material should not be considered a solicitation to buy or sell a financial product or security. 

         

        Investing involves risk including the risk of loss of principal. Diversification does not ensure a profit or guarantee against loss.

         

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

         

        ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF’s net asset value. ETFs typically invest by sampling an index, holding a range of securities that, in the aggregate, approximates the full index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.  

         

        SPDR®, Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC, Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC, ASX® is a registered trademark of the ASX Operations Pty Ltd], these trademarks have been licensed for use by S&P Dow Jones Indices LLC and licensed for use for certain purposes by State Street. MSCI indexes are the exclusive property of MSCI Inc.(“MSCI”). MSCI and the MSCI index names are service mark(s) of MSCI or its affiliates and have been licensed for use for certain purposes by State Street.  The products referenced herein are not sponsored, endorsed, sold or promoted by any of these third party entities and none of these entities bear any liability with respect to the products or make any representation, warranty or condition regarding the advisability of buying, selling or holding any products issued by SSGA, ASL.

         

        There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

         

        The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA ASL’s express written consent.

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