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        State Street Climate ESG International Equity Fund

        Overview Performance Holdings Documents Purchase Information More Insights
        NAV
        AUD $2.0184
        as of 20 Dec 2024
        Management Costs
        0.24% p.a.
        Base Currency
        AUD
        Fund Size
        AUD $468.4 mn
        as of 30 Nov 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 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 23 Dec 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

        Fund Pricing as of 20 Dec 2024

        NAV AUD $2.0184
        Application AUD $2.0198
        Redemption AUD $2.0176
        Most Recent NAV / NAV History

        Fund Performance

        • Fund Inception Date: 30 Jun 2016

        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.)
        30 Jun 2016
        Fund (Gross) 30 Nov 2024 5.12% 8.65% 29.73% 10.65% 13.22% 13.49% 14.33%
        Fund (Net) 30 Nov 2024 5.10% 8.59% 29.42% 10.38% 12.95% 13.22% 14.06%
        Growth 30 Nov 2024 5.10% 8.59% 24.24% 6.34% 7.72% 7.36% 8.30%
        Distribution 30 Nov 2024 0.00% 0.00% 5.18% 4.04% 5.23% 5.86% 5.76%
        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.

                 		30 Nov 2024 5.18% 8.79% 30.23% 11.91% 13.65% 13.75% 14.50%
        Difference (Gross) 30 Nov 2024 -0.06% -0.14% -0.50% -1.27% -0.43% -0.26% -0.17%
        Difference (Net) 30 Nov 2024 -0.08% -0.20% -0.81% -1.53% -0.70% -0.53% -0.44%

        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 30 Nov 2024

        Name Fund
        APPLE INC 5.24%
        NVIDIA CORP 4.93%
        MICROSOFT CORP 4.37%
        AMAZON.COM INC 2.87%
        META PLATFORMS INC-CLASS A 1.86%
        ALPHABET INC-CL C 1.78%
        TESLA INC 1.64%
        JPMORGAN CHASE & CO 1.25%
        CISCO SYSTEMS INC 1.18%
        ALPHABET INC-CL A 1.17%
        Download All Holdings: Monthly

        Sector Allocation as of 30 Nov 2024

        Name Fund Benchmark
        Information Technology 26.88% 25.70%
        Financials 17.86% 15.88%
        Health Care 11.47% 10.77%
        Industrials 10.97% 11.11%
        Consumer Discretionary 10.53% 10.68%
        Communication Services 9.15% 7.83%
        Consumer Staples 4.80% 6.21%
        Real Estate 2.52% 2.13%
        Materials 2.45% 3.13%
        Utilities 1.80% 2.61%
        Energy 1.56% 3.95%

        Country Allocation as of 30 Nov 2024

        Country Fund Benchmark
        United States 73.68% 75.27%
        Japan 5.61% 5.33%
        Canada 3.80% 3.16%
        France 3.16% 2.54%
        Switzerland 2.58% 2.28%
        Germany 2.55% 2.13%
        United Kingdom 2.36% 3.50%
        Netherlands 1.24% 1.06%
        Denmark 1.02% 0.77%
        Hong Kong 0.69% 0.46%
        Other 3.33% 3.51%

        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 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.

        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.

        This information is for informational purposes only, not to be construed as investment advice or a recommendation or offer to buy or sell any security or financial product. Investors should always obtain and read an up-to-date investment services description or offering documents before deciding whether to appoint an investment manager or to invest in a fund. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice. The State Street products mentioned on this website are domiciled in Australia and are registered for public distribution in Australia only. Provision of this information does not constitute an offer under the Product Disclosure Statement. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. There are no guarantees regarding the achievement of investment objectives, target returns, portfolio construction, allocations or measurements such as alpha, tracking error, stock weightings and other information ratios. The views and strategies described may not be suitable for all investors. SSGA does not provide tax or legal advice. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction. Prospective investors should consult with a tax or legal advisor before making any investment decision. Investing entails risks and there can be no assurance that SSGA will achieve profits or avoid incurring losses.

         

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

         

        Past performance is not a reliable indicator of future performance. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.

         

        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 Australia’s express written consent.

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