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        State Street Climate ESG International Equity Fund

        Overview Performance Holdings Documents Purchase Information More Insights
        NAV
        AUD $1.9391
        as of 15 Nov 2024
        Management Costs
        0.24% p.a.
        Base Currency
        AUD
        Fund Size
        AUD $448.4 mn
        as of 31 Oct 2024
        Buy/Sell Spread
        0.07%/0.04%

        Quick Links

        Key Features

        • Climate Risk & Opportunities – favours companies we believe are well positioned for climate change by considering a variety of measures for each company. These include carbon emissions, exposure to fossil fuel reserves, the proportion of revenues in “brown” and “green” sectors as well as forward looking metrics including Climate Value at Risk, Carbon Risk Rating and Implied Temperature Rise.
        • ESG Scoring - seeks increased exposure to companies with strong ESG ratings using State Street’s ESG scoring methodology (R-Factor™).
        • Exclusionary Screening - screens out companies with material involvement in controversial business activities including tobacco, controversial (including nuclear) weapons, thermal coal, oil & gas, alcohol, gambling, civilian firearms and adult entertainment. Also screens out companies that exhibit violations of the UN Global Compact principles or exhibit severe ESG controversies.1
        • Diversified Investment - provides investors with a cost efficient way of gaining diversified exposure to international stock markets.

        Investment Objective

        The State Street Climate ESG International Equity Fund (“the Fund”) seeks to achieve capital growth and income in line with the MSCI World ex-Australia Index, subject to delivering climate and ESG objectives.

        About this Benchmark

        The MSCI World ex-Australia Index ("the Index") represents large- and mid-cap stocks across 22 developed markets countries. The Index is an industry benchmark used by professional investors for global equity portfolios.

        Investment Strategy

        The Fund allows investors to deploy capital across multiple dimensions of ESG and Climate themes via:

        • Climate Risks - aims to reduce exposure to fossil fuel related activities and companies with elevated exposure to climate-related financial risks, such as physical risks.
        • Climate Opportunities - aims to increase exposure to companies who are well positioned for the low-carbon transition, including those better prepared for the economic and regulatory impacts of climate change, or those companies investing in green technologies.
        • Sustainable & Transparent ESG - increases exposure to companies that score well on financially material global sustainability issues as well as market specific corporate governance codes using State Street’s ESG scoring methodology (R-Factor™).
        • Screening - excludes a) companies with material business activity involving tobacco, controversial (including nuclear) weapons, thermal coal, oil & gas, gambling, civilian firearms, alcohol and adult entertainment. We do not try to screen every company that touches these products or issues in any way; and b) companies that exhibit violations of the United Nations corporate sustainability principles or have severe ESG controversies. We do not try to screen out companies with less significant violations of the United Nations Global Compact or those with less impactful ESG controversies.1

        The Fund uses an optimiser to construct the portfolio which aims to achieve the most efficient trade-off between climate targets, ESG improvement, tracking error and diversification, while seeking long-term returns broadly in line with the Index.

        Fund Information as of 18 Nov 2024

        Benchmark MSCI World ex-Australia Index
        Inception Date 30 Jun 2016
        Management Costs 0.24% p.a.
        Buy/Sell Spread 0.07%/0.04%
        Minimum Initial Investment AUD 25,000
        Pricing Daily
        Distribution Frequency Semi-Annually
        APIR Code SST0057AU
        ARSN Code 611 640 361
        ISIN AU60SST00571
        Research Ratings

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

        Platform
        AMP North
        BT
        Dash
        Hub24 (inc Rhythm)
        Insignia (inc Expand, MLC, Grow, Voyage)
        Macquarie Wrap
        Netwealth
        Ratings Information
        Lonsec Recommended (May 2024)
        Zenith Recommended (Nov 2023) 
        Zenith Lonsec Recommended

        Fund Pricing as of 15 Nov 2024

        NAV AUD $1.9391
        Application AUD $1.9404
        Redemption AUD $1.9384
        Most Recent NAV / NAV History

        Fund Characteristics as of 31 Oct 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.

                 		1.70
        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.

                 		3.45
        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.

                 		22.16
        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.

                 		14.16
        Return on Equity

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

                 		27.22
        Number of Holdings 452

        Index Characteristics as of 31 Oct 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.

                 		1.70
        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.

                 		3.44
        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.

                 		21.43
        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.

                 		14.09
        Return on Equity

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

                 		25.66
        Number of Holdings 1,346

        Fund Performance

        • Fund Inception Date: 30 Jun 2016

        as of 31 Oct 2024

        As Of 1 Month 3 Months 1 Year 3 Years (p.a.) 5 Years (p.a.) 7 Years (p.a.) Since Inception (p.a.)
        30 Jun 2016
        Fund (Gross) 31 Oct 2024 3.54% 1.81% 29.58% 10.09% 13.12% 13.20% 13.79%
        Fund (Net) 31 Oct 2024 3.52% 1.75% 29.27% 9.83% 12.85% 12.93% 13.53%
        Growth 31 Oct 2024 3.52% 1.75% 24.10% 5.81% 7.63% 7.08% 7.74%
        Distribution 31 Oct 2024 0.00% 0.00% 5.17% 4.02% 5.22% 5.85% 5.79%
        Benchmark
        MSCI World ex-Australia Index

        From 29 March 2018 to 29 May 2020, the performance benchmark for the Fund was the MSCI World ex Australia Select ESG Low Carbon Integrated Index. Prior to 28 March 2018 the performance benchmark for the State Street Low Carbon ESG International Equities Index Trust was the MSCI World ex Australia ex Tobacco ex Controversial Weapons Index.

                 		31 Oct 2024 3.92% 2.14% 29.31% 11.39% 13.53% 13.45% 13.96%
        Difference (Gross) 31 Oct 2024 -0.38% -0.33% 0.27% -1.30% -0.41% -0.25% -0.17%
        Difference (Net) 31 Oct 2024 -0.40% -0.39% -0.04% -1.56% -0.68% -0.52% -0.43%

        From 29 March 2018 to 29 May 2020, the performance benchmark for the Fund was the MSCI World ex Australia Select ESG Low Carbon Integrated Index. Prior to 28 March 2018, the performance benchmark for the Fund was the MSCI World ex Australia ex Tobacco ex Controversial Weapons Index. 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. 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 31 Oct 2024

        Name Fund
        APPLE INC 5.21%
        NVIDIA CORP 4.93%
        MICROSOFT CORP 4.36%
        AMAZON.COM INC 2.62%
        META PLATFORMS INC-CLASS A 1.92%
        ALPHABET INC-CL C 1.88%
        TESLA INC 1.27%
        ALPHABET INC-CL A 1.24%
        SCHNEIDER ELECTRIC SE 1.16%
        JPMORGAN CHASE & CO 1.15%
        Download All Holdings: Monthly

        Sector Allocation as of 31 Oct 2024

        Name Fund Benchmark
        Information Technology 26.37% 25.39%
        Financials 17.40% 15.40%
        Health Care 12.22% 11.40%
        Consumer Discretionary 10.43% 10.23%
        Industrials 10.41% 11.12%
        Communication Services 9.15% 7.90%
        Consumer Staples 5.57% 6.36%
        Materials 2.90% 3.31%
        Real Estate 2.17% 2.17%
        Utilities 2.01% 2.70%
        Energy 1.37% 4.01%

        Country Allocation as of 31 Oct 2024

        Country Fund Benchmark
        United States 72.92% 74.11%
        Japan 5.74% 5.60%
        Canada 3.83% 3.11%
        France 3.14% 2.78%
        United Kingdom 2.75% 3.64%
        Germany 2.74% 2.25%
        Switzerland 2.50% 2.44%
        Netherlands 1.50% 1.11%
        Denmark 1.12% 0.83%
        Spain 0.70% 0.70%
        Other 3.06% 3.43%

        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, sector and country allocations 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. Excludes cash, cash equivalents and accruals.

        Source: State Street Global Advisors

        1 The strategy used by the Fund relies on data from numerous external providers. This includes index data, climate data and ESG data. There is a risk that inaccurate or incomplete data from an external provider will cause the Fund to fail to meet its objectives, either by reducing returns, or by exposure to unintended ESG or climate risks. Materiality thresholds are outlined in the Fund’s Product Disclosure Statement and accompanying Information Booklet, available at ssga.com.

        Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions. Investing in foreign domiciled securities may involve risk of capital loss from unfavourable fluctuation in currency values, withholding taxes, from differences in generally accepted accounting principles or from economic or political instability in other nations. 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.

        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.

        Responsible-Factor (R-Factor) scoring is designed by State Street to reflect certain ESG characteristics and does not represent investment performance. Results generated out of the scoring model is based on sustainability and corporate governance dimensions of a scored entity.

        The MSCI World ex-Australia Index is a trademark of MSCI Inc.

        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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