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        State Street Floating Rate Fund

        Overview Performance Holdings Documents Purchase Information More Insights
        NAV
        AUD $1.0160
        as of 19 Dec 2024
        Management Costs
        0.25% p.a.
        Base Currency
        AUD
        Fund Size
        AUD $710.5 mn
        as of 30 Nov 2024
        Buy/Sell Spread
        0.00%/0.03%

        Quick Links

        Key Features

        • Access High-Quality - provides access to high-quality interest bearing floating rate notes, ADI certificate of deposits and overnight cash deposits.
        • Capital Preservation and Liquidity - an actively managed approach that aims to preserve capital and maintain liquidity across different market environments.
        • Yield Enhancement - potential to deliver a yield above the RBA Cash Rate TRI.
        • Income Generation - income is distributed regularly on a monthly basis.1
        • Low Fees - buy/sell spread is 0%/0.03% and management fees are 0.25% p.a.
        • ESG Aware – seeks to exclude exposure to companies that are classified as sustainability “Laggards” or “Under Performers” on our ‘Responsibility Factor’ (R-Factor™).

        Investment Objective

        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.

        About this Benchmark

        The RBA Cash Rate TRI represents a risk-free rate of return for Australian investors.

        Investment Strategy

        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 determined by R-FactorTM.  

        The Fund is suitable for investors seeking income from an exposure to the Australian high quality debt market.

        Fund Information as of 22 Dec 2024

        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
        Research Ratings

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

        Platform
        AMP North
        BT (inc Asgard)
        CFS Edge
        Dash
        Hub24
        Macquarie Wrap
        Netwealth
        Praemium
        Ratings Information
        Lonsec Recommended (Sep 2023)
        Zenith Recommended (June 2024) 
        Zenith Lonsec Recommended

        Fund Pricing as of 19 Dec 2024

        NAV AUD $1.0160
        Application AUD $1.0160
        Redemption AUD $1.0157
        Most Recent NAV / NAV History

        Fund Performance

        • Fund Inception Date: 18 Oct 2017

        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.) Since Inception (p.a.)
        18 Oct 2017
        Fund (Gross) 30 Nov 2024 0.37% 1.37% 6.22% 3.90% 2.93% 2.89% 2.88%
        Fund (Net) 30 Nov 2024 0.35% 1.31% 5.95% 3.64% 2.67% 2.61% 2.60%
        Growth 30 Nov 2024 -0.06% 0.10% 0.74% 0.09% 0.19% 0.20% 0.19%
        Distribution 30 Nov 2024 0.40% 1.21% 5.22% 3.55% 2.48% 2.41% 2.41%
        Benchmark
        RBA Cash Rate Total Return Index
        		30 Nov 2024 0.35% 1.09% 4.42% 3.06% 1.89% 1.74% 1.74%
        Difference (Gross) 30 Nov 2024 0.02% 0.28% 1.79% 0.85% 1.04% 1.14% 1.14%
        Difference (Net) 30 Nov 2024 0.00% 0.22% 1.53% 0.59% 0.78% 0.86% 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

        Top Holdings

        Download All Holdings: Monthly

        Asset Allocation

        Fund Asset Allocation as of 30 Nov 2024

        Asset Type Weight
        Floating Rate Notes 92.77%
        Cash 7.23%

        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 sustainable strategy criteria may trail the returns on a portfolio of securities which include such companies. A portfolio's sustainable strategy criteria may result in the portfolio investing in industry sectors or securities which underperform the market as a whole.

        R-Factor scoring is designed by State Street to reflect certain sustainability factors and does not represent investment performance. Results generated out of the scoring model are based on sustainability dimensions of a scored entity.

        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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