The State Street Floating Rate Fund ("the Fund") seeks to outperform the RBA Cash Rate Total Return Index (TRI) by 1.0% to 1.5% over a rolling three-year period before fees.
The RBA Cash Rate TRI represents a risk-free rate of return for Australian investors.
The Fund actively seeks to invest in interest bearing investments of high credit quality, rather than investing in a predetermined basket of securities such as an index. A conservative management approach aims to preserve and protect the Fund, and is reinforced by our dedicated credit research team, one of the largest and most experienced in the industry. Significant credit analysis is undertaken on each issuer and security to determine whether they meet the Fund's investment criteria. The Fund also aims to avoid exposure to companies that score unfavourably on financially material sustainability issues relative to their industry peers, as well as performance against market specific corporate governance codes.
The Fund is suitable for investors seeking income from an exposure to the Australian high quality debt market.
Benchmark | RBA Cash Rate Total Return Index |
Inception Date | 18 Oct 2017 |
Management Costs | 0.25% p.a. |
Buy/Sell Spread | 0.00%/0.03% |
Minimum Initial Investment | AUD 25,000 |
Pricing | Daily |
Distribution Frequency | Monthly |
APIR Code | SST4725AU |
ARSN Code | 618 268 821 |
ISIN | AU60SST47259 |
NAV | AUD $1.0146 |
Application | AUD $1.0146 |
Redemption | AUD $1.0143 |
as of 31 Jul 2024
As Of | 1 Month | 3 Months | 1 Year | 3 Years (p.a.) | 5 Years (p.a.) | Since Inception (p.a.) 18 Oct 2017 |
|
---|---|---|---|---|---|---|---|
Fund (Gross) | 31 Jul 2024 | 0.58% | 1.55% | 6.10% | 3.18% | 2.64% | 2.75% |
Fund (Net) | 31 Jul 2024 | 0.55% | 1.49% | 5.83% | 2.93% | 2.39% | 2.47% |
Growth | 31 Jul 2024 | 0.16% | 0.10% | 0.61% | -0.12% | 0.12% | 0.19% |
Distribution | 31 Jul 2024 | 0.40% | 1.40% | 5.22% | 3.05% | 2.27% | 2.29% |
Benchmark
RBA Cash Rate Total Return Index
|
31 Jul 2024 | 0.39% | 1.10% | 4.36% | 2.57% | 1.66% | 1.61% |
Difference (Gross) | 31 Jul 2024 | 0.18% | 0.46% | 1.74% | 0.62% | 0.98% | 1.14% |
Difference (Net) | 31 Jul 2024 | 0.16% | 0.39% | 1.48% | 0.36% | 0.73% | 0.86% |
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 and 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. Monthly RBA cash returns have been sourced from RBA and Bloomberg. 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
Insights & Resources
1 The Responsible Entity reserves the right to not pay any distribution.
Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates raise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss. 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.
The returns on a portfolio of securities which exclude companies that do not meet the portfolio's specified ESG criteria may trail the returns on a portfolio of securities which include such companies. A portfolio's ESG criteria may result in the portfolio investing in industry sectors or securities which underperform the market as a whole.