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AUD $1.0159
as of 21 Jan 2021
0.25% p.a.
AUD
AUD $206.4 mn
as of 31 Dec 2020
0.00%/0.03%
Key Features
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 is suitable for investors seeking income from an exposure to the Australian high quality debt market.
| Benchmark | Inception Date | Management Costs | Buy/Sell Spread | Minimum Initial Investment |
|---|---|---|---|---|
| RBA Cash Rate Total Return Index | 18 Oct 2017 | 0.25% p.a. | 0.00%/0.03% | AUD 25,000 |
| 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 | Distribution Frequency | APIR Code | ARSN Code | ISIN |
|---|---|---|---|---|
| Daily | Monthly | SST4725AU | 618 268 821 | AU60SST47259 |
| Pricing | Daily |
| Distribution Frequency | Monthly |
| APIR Code | SST4725AU |
| ARSN Code | 618 268 821 |
| ISIN | AU60SST47259 |
| NAV | Application | Redemption |
|---|---|---|
| AUD $1.0159 | AUD $1.0159 | AUD $1.0156 |
| NAV | AUD $1.0159 |
| Application | AUD $1.0159 |
| Redemption | AUD $1.0156 |
Fund Performance
as of 31 Dec 2020
| 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 Dec 2020 | -0.02% | 0.92% | 2.47% | 2.66% | - | 2.65% |
| Fund (Net) | 31 Dec 2020 | -0.04% | 0.85% | 2.21% | 2.35% | - | 2.34% |
| Benchmark | 31 Dec 2020 | 0.00% | 0.02% | 0.25% | 0.98% | - | 1.01% |
| Difference (Gross) | 31 Dec 2020 | -0.02% | 0.90% | 2.22% | 1.68% | - | 1.64% |
| Difference (Net) | 31 Dec 2020 | -0.04% | 0.83% | 1.96% | 1.37% | - | 1.33% |
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 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
Fund Footnote
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.
