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State Street Global Index Plus (Hedged) Trust

NAV
AUD $0.5549
as of 01 Mar 2024
Management Costs
0.32% p.a.
Base Currency
AUD
Fund Size
AUD $23.4 mn
as of 31 Jan 2024
Buy/Sell Spread
0.10%/0.07%

Key Features

  • Diversification - provides access to large- and mid-cap stocks across 22 developed market countries.
  • Active Stock Selection - our stock selection approach employs three core themes: quality, value, and sentiment.
  • Risk Management Focus - strict risk controls relative to the index, seek to remove unintended biases to style, size and beta.
  • Currency Risk Mitigation - Fully hedged to reduce the impact of foreign currency volatility on equity returns.

Investment Objective

The State Street Global Index Plus (Hedged) Trust ("the Fund") seeks an investment return that modestly exceeds, before expenses, the performance of the MSCI World ex-Australia Index (100% Hedged to AUD) over the long term.

About this Benchmark

The MSCI World ex-Australia (Hedged to AUD) Index ("the Index") represents large- and mid-cap stocks across 22 developed markets countries where the local currency exposures are hedged to Australian Dollars. The Index is an industry benchmark used by professional investors for global equity portfolios.

Investment Strategy

Four principles drive our investment process:

1. Investors can take advantage of market inefficiencies through a disciplined application of a systematic, analytical investment process.

2. The Fund uses more than one strategy designed to take advantage of market inefficiencies to help produce more consistent, investment performance over the long term. We rank companies in the index using factors such as quality, valuation and investor sentiment.

3. Risk control is an integral part of our investment process. The Fund maintains overall risk, style, and size characteristics similar to those of the benchmark.

4. Our investment process is based on economic and financial analysis which is continuously updated to adapt over time.

The Fund will exclude companies, subject to materiality thresholds identified by MSCI, involved in tobacco and controversial weapons. Further information about the MSCI methodology is available on www.msci.com.1

Currency risk arising from holding securities denominated in foreign currencies is hedged using forward foreign exchange contracts.

The Fund is suitable for investors seeking capital growth over the long term through a well-diversified portfolio of international equities who also desire a modest level of active management.

Fund Information as of 04 Mar 2024

Benchmark MSCI World ex-Australia Index hedged to AUD
Inception Date 28 Feb 2001
Management Costs 0.32% p.a.
Buy/Sell Spread 0.10%/0.07%
Minimum Initial Investment AUD 25,000
Pricing Daily
Distribution Frequency Annually
APIR Code SST0021AU
ARSN Code 089 593 251
ISIN AU60SST00217

Fund Pricing as of 01 Mar 2024

NAV AUD $0.5549
Application AUD $0.5554
Redemption AUD $0.5546

Fund Performance

  • Fund Inception Date: 28 Feb 2001

as of 31 Jan 2024

As Of 1 Month 3 Months 1 Year 3 Years (p.a.) 5 Years (p.a.) Since Inception (p.a.)
28 Feb 2001
Fund (Gross) 31 Jan 2024 2.47% 14.82% 18.41% 10.01% 10.78% 7.80%
Fund (Net) 31 Jan 2024 2.44% 14.73% 18.03% 9.66% 10.42% 7.46%
Benchmark
MSCI World ex-Australia Index hedged to AUD
31 Jan 2024 1.77% 14.23% 16.54% 8.22% 10.47% 7.41%
Difference (Gross) 31 Jan 2024 0.70% 0.59% 1.86% 1.79% 0.31% 0.39%
Difference (Net) 31 Jan 2024 0.67% 0.50% 1.49% 1.44% -0.05% 0.05%

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 and losses, income, and the reinvestment of dividends. 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 Jan 2024

Name Fund Benchmark
APPLE INC 4.71% 4.83%
MICROSOFT CORP 4.69% 4.70%
NVIDIA CORP 2.61% 2.55%
AMAZON.COM INC 2.53% 2.41%
META PLATFORMS INC-CLASS A 1.52% 1.45%
ALPHABET INC-CL A 1.45% 1.39%
ALPHABET INC-CL C 1.30% 1.24%
BROADCOM INC 1.00% 0.88%
JPMORGAN CHASE & CO 0.97% 0.85%
UNITEDHEALTH GROUP INC 0.84% 0.79%
Download All Holdings: Monthly

Sector Allocation as of 31 Jan 2024

Name Fund Benchmark
Information Technology 24.20% 24.12%
Financials 14.93% 14.83%
Health Care 12.46% 12.33%
Industrials 11.03% 11.08%
Consumer Discretionary 10.74% 10.69%
Communication Services 7.55% 7.48%
Consumer Staples 6.72% 6.85%
Energy 4.24% 4.35%
Materials 3.55% 3.49%
Utilities 2.42% 2.52%
Real Estate 2.16% 2.28%

Country Allocation as of 31 Jan 2024

Country Fund Benchmark
United States 71.80% 71.57%
Japan 6.33% 6.37%
United Kingdom 4.05% 4.00%
France 3.12% 3.27%
Canada 3.09% 3.21%
Switzerland 2.64% 2.70%
Germany 2.33% 2.30%
Netherlands 1.37% 1.33%
Sweden 0.88% 0.83%
Denmark 0.88% 0.95%
Other 3.51% 3.47%

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 MSCI. 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 risks.

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. Actively managed funds do not seek to replicate the performance of a specified index. The Fund is actively managed and may underperform its benchmarks. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. Investing in the Fund involves risks, including the risk that investors may receive little or no return on the investment or that investors may lose part or even all of the investment. 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 MSCI World ex-Australia Index (100% Hedged to AUD) is a trademark of MSCI Inc.