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        State Street Global Fixed Income Index Trust

        Overview Performance Holdings Documents Purchase Information More Insights
        NAV
        AUD $0.8388
        as of 14 Nov 2024
        Management Costs
        0.2% p.a.
        Base Currency
        AUD
        Fund Size
        AUD $20.4 mn
        as of 31 Oct 2024
        Buy/Sell Spread
        0.06%/0.04%

        Quick Links

        Key Features

        • Core Index Exposure - a potential core international fixed income exposure within a diversified portfolio.
        • Diversification - a low-cost, diversified portfolio of global bonds that can possibly complement an equity portfolio.
        • Access High-Quality - provides access to government bonds issued in over 20 countries; all rated investment grade (BBB-/Baa3 or higher) at the time of index inclusion.
        • Currency Risk Mitigation - Fully hedged to reduce the impact of foreign currency volatility on bond returns.

        Investment Objective

        The State Street Global Fixed Income Index Trust ("the Fund") seeks an investment return that approximates as closely as practicable, before expenses, the performance of the FTSE World Government Bond Index ex-Australia, 100% hedged to Australian dollars.

        About this Benchmark

        The FTSE World Government Bond Index ex-Australia (Hedged to AUD) ("the Index") measures the performance of fixed-rate, local currency sovereign bonds (100% hedged to Australian Dollar). The Index includes sovereign debt from over 20 countries, denominated in a variety of currencies.

        Investment Strategy

        In managing the Fund, our primary investment strategy is index sampling. Since the benchmark includes too many securities to efficiently purchase, the Fund holds a representative portfolio that aims to closely track the performance of the Index. The representative portfolio is built using a sampling strategy, which seeks to closely match the Index's primary risk characteristics of currency, interest rate risk, yield curve risk, quality and country distribution. This Fund also enters into forward foreign exchange contracts to largely remove the foreign currency exposure arising from foreign currency denominated securities.

        The Fund is suitable for investors seeking income from an exposure to the international fixed income markets without exposure to foreign currencies.

        Fund Information as of 15 Nov 2024

        Benchmark FTSE World Government Bond Index ex-Australia, 100% hedged to Australian dollars
        Inception Date 30 Apr 1998
        Management Costs 0.2% p.a.
        Buy/Sell Spread 0.06%/0.04%
        Minimum Initial Investment AUD 25,000
        Pricing Daily
        Distribution Frequency Annually
        APIR Code SST0009AU
        ARSN Code 089 590 545
        ISIN AU60SST00092

        Fund Pricing as of 14 Nov 2024

        NAV AUD $0.8388
        Application AUD $0.8393
        Redemption AUD $0.8385
        Most Recent NAV / NAV History

        Fund Characteristics as of 31 Oct 2024

        Number of Issues 346
        Average Maturity (Years)

        The market value weighted average maturity of bonds in the portfolio, where maturity is defined as Stated Final for bullet maturity bonds, and the average time to receipt of all principal payments for amortising instruments.

                 		9.11
        Current Yield

        Current yield, also called running yield, is calculated by dividing the market value weighted average current coupon of the bonds in the portfolio, by current market price of the bonds in the portfolio.

                 		2.86%
        Modified Adjusted Duration

        An option-adjusted measure of a portfolio's sensitivity to changes in interest rates. Calculated as the percentage change of a portfolio's value for a 100 basis point change in yield.

                 		7.09
        Average Coupon

        The market value weighted average coupon of bonds in the portfolio. The coupon rate of a bond is the interest rate that the issuer agrees to pay until the maturity date.

                 		2.78
        Yield to Maturity

        The market weighted average rate of return anticipated on bonds held in the portfolio, if they were held to their maturity date.

                 		3.36%

        Index Characteristics as of 31 Oct 2024

        Number of Issues 1,275
        Average Maturity (Years)

        The market value weighted average maturity of bonds in the index, where maturity is defined as Stated Final for bullet maturity bonds, and the average time to receipt of all principal payments for amortising instruments.

                 		8.84
        Current Yield

        Current yield, also called running yield, is calculated by dividing the market value weighted average current coupon of the bonds in the index, by current market price of the bonds in the index.

                 		2.76%
        Modified Adjusted Duration

        An option-adjusted measure of a index's sensitivity to changes in interest rates. Calculated as the percentage change of a index's value for a 100 basis point change in yield.

                 		7.09
        Average Coupon

        The market value weighted average coupon of bonds in the index. The coupon rate of a bond is the interest rate that the issuer agrees to pay until the maturity date.

                 		2.58
        Yield to Maturity

        The market weighted average rate of return anticipated on bonds held in the index, if they were held to their maturity date.

                 		3.32%

        Fund Performance

        • Fund Inception Date: 30 Apr 1998

        as of 31 Oct 2024

        As Of 1 Month 3 Months 1 Year 3 Years (p.a.) 5 Years (p.a.) Since Inception (p.a.)
        30 Apr 1998
        Fund (Gross) 31 Oct 2024 -1.44% 0.52% 6.99% -3.06% -1.46% 5.24%
        Fund (Net) 31 Oct 2024 -1.46% 0.47% 6.78% -3.26% -1.66% 5.04%
        Benchmark
        FTSE World Government Bond Index ex-Australia, 100% hedged to Australian dollars

        Prior to 31 December 2003 the performance benchmark for the State Street Global Fixed Income Index Trust was the JP Morgan World Government Bond Index.

                 		31 Oct 2024 -1.53% 0.36% 7.11% -2.99% -1.43% 5.27%
        Difference (Gross) 31 Oct 2024 0.10% 0.16% -0.12% -0.07% -0.03% -0.03%
        Difference (Net) 31 Oct 2024 0.08% 0.11% -0.33% -0.27% -0.23% -0.23%

        Prior to 31 December 2003 the performance benchmark for the Fund was the JP Morgan World Government Bond Index. Past performance is not a reliable indicator of future performance. Performance returns for periods of less than one year are not annualised. The performance figures contained herein reflect Total Returns and are provided on a net and gross of fees basis. 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 or losses and income. 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

        Download All Holdings: Monthly

        Sector Allocation as of 31 Oct 2024

        Name Fund Benchmark
        Treasury 98.97% 100.00%
        Cash 1.03% -

        Country Allocation as of 31 Oct 2024

        Country Fund Benchmark
        United States 42.26% 42.30%
        China 10.27% 10.29%
        Japan 10.24% 10.24%
        France 6.82% 6.84%
        Italy 6.29% 6.34%
        Germany 5.34% 5.33%
        United Kingdom 4.67% 4.68%
        Spain 4.08% 4.11%
        Canada 1.75% 1.76%
        Belgium 1.41% 1.44%
        Other 6.88% 6.68%

        Credit Quality Allocation as of 31 Oct 2024

        Credit Quality Fund Benchmark
        Aaa 10.16% 9.46%
        Aa 56.79% 57.14%
        A 26.15% 26.38%
        Baa 6.91% 7.02%
        Other 0.00% -

        Allocations are as of the date indicated, are subject to change, and should not be relied upon as current thereafter. 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

        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. International Government bonds generally have more moderate short-term price fluctuations than stocks, but provide lower potential long-term returns. Diversification does not ensure a profit or guarantee against 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. Investments in issuers in different countries are often denominated in different currencies. Changes in the values of those currencies relative to the Portfolio's base currency may have a positive or negative effect on the values of the Portfolio's investments denominated in those currencies. The Portfolio invests in currency exchange contracts to reduce exposure to different currencies. These contracts may reduce, take or eliminate some or all of the benefit that the Portfolio may experience from favourable currency fluctuations.

        The State Street Global Fixed Income Index Trust is not in any way sponsored, endorsed, sold or promoted by FTSE International Limited ("FTSE") or the London Stock Exchange Group companies ("LSEG") (together the "Licensor Parties") and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the FTSE World Government Bond Index ex-Australia (Hedged to AUD) (the "Index") (upon which the State Street Global Fixed Income Index Trust is based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the State Street Global Fixed Income Index Trust. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to State Street Global Advisors or to its clients. The Index is calculated by FTSE or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.

        All rights in the Index vest in FTSE. "FTSE®" is a trade mark of LSEG and is used by FTSE under license.

        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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