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        State Street Australian Fixed Income Index Trust

        Overview Performance Holdings Documents Purchase Information More Insights
        NAV
        AUD $0.9370
        as of 18 Apr 2024
        Management Costs
        0.16% p.a.
        Base Currency
        AUD
        Fund Size
        AUD $37.1 mn
        as of 31 Mar 2024
        Buy/Sell Spread
        0.04%/0.04%

        Quick Links

        Key Features

        • Core Index Exposure - a potential core Australian fixed income exposure within a diversified portfolio.
        • Diversification - a low-cost, diversified portfolio of Australian bonds that can possibly complement an equity portfolio.
        • Access High-Quality - provides access to government, semi-government and corporate bonds issued in Australia; all rated investment grade (BBB-/Baa3 or higher).
        • Income Generation - income is distributed on a quarterly basis.1

        Investment Objective

        The State Street Australian Fixed Income Index Trust ("the Fund") seeks an investment return that approximates as closely as practicable, before expenses, the performance of the Bloomberg AusBond Composite Bond Index.

        About this Benchmark

        The Bloomberg AusBond Composite Bond Index ("the Index") represents investment grade, fixed-interest bonds issued in the Australian debt market. Underlying sectors include Commonwealth, semi-governments, credit, supranationals and non-Australian governments.

        Investment Strategy

        In managing the Fund, our primary investment strategy is index sampling. The goal of the sampling strategy is to mirror the returns and characteristics of the Index. As a result, we purchase a selection of securities from the Index such that the portfolio matches key characteristics of the Index. Key characteristics include duration, yield, sector exposure and credit quality.

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

        Fund Information as of 19 Apr 2024

        Benchmark Bloomberg AusBond Composite Bond Index
        Inception Date 31 Mar 1998
        Management Costs 0.16% p.a.
        Buy/Sell Spread 0.04%/0.04%
        Minimum Initial Investment AUD 25,000
        Pricing Daily
        Distribution Frequency Quarterly
        APIR Code SST0005AU
        ARSN Code 089 590 643
        ISIN AU60SST00050

        Fund Pricing as of 18 Apr 2024

        NAV AUD $0.9370
        Application AUD $0.9373
        Redemption AUD $0.9367
        Most Recent NAV / NAV History

        Fund Characteristics as of 31 Mar 2024

        Number of Issues 144
        Average Maturity (Years)

        The market value weighted average maturity of bonds in the portfolio, where maturity is defined as Stated Final for bullet maturity bonds, and the average time to receipt of all principal payments for amortising instruments.

                 		6.03
        Current Yield

        Current yield, also called running yield, is calculated by dividing the market value weighted average current coupon of the bonds in the portfolio, by current market price of the bonds in the portfolio.

                 		2.96%
        Modified Adjusted Duration

        An option-adjusted measure of a portfolio's sensitivity to changes in interest rates. Calculated as the percentage change of a portfolio's value for a 100 basis point change in yield.

                 		5.13
        Average Coupon

        The market value weighted average coupon of bonds in the portfolio. The coupon rate of a bond is the interest rate that the issuer agrees to pay until the maturity date.

                 		2.82
        Yield to Maturity

        The market weighted average rate of return anticipated on bonds held in the portfolio, if they were held to their maturity date.

                 		4.13%

        Index Characteristics as of 31 Mar 2024

        Number of Issues 796
        Average Maturity (Years)

        The market value weighted average maturity of bonds in the index, where maturity is defined as Stated Final for bullet maturity bonds, and the average time to receipt of all principal payments for amortising instruments.

                 		6.00
        Current Yield

        Current yield, also called running yield, is calculated by dividing the market value weighted average current coupon of the bonds in the index, by current market price of the bonds in the index.

                 		3.00%
        Modified Adjusted Duration

        An option-adjusted measure of a index's sensitivity to changes in interest rates. Calculated as the percentage change of a index's value for a 100 basis point change in yield.

                 		5.12
        Average Coupon

        The market value weighted average coupon of bonds in the index. The coupon rate of a bond is the interest rate that the issuer agrees to pay until the maturity date.

                 		2.86
        Yield to Maturity

        The market weighted average rate of return anticipated on bonds held in the index, if they were held to their maturity date.

                 		4.13%

        Fund Performance

        • Fund Inception Date: 31 Mar 1998

        as of 31 Mar 2024

        As Of 1 Month 3 Months 1 Year 3 Years (p.a.) 5 Years (p.a.) Since Inception (p.a.)
        31 Mar 1998
        Fund (Gross) 31 Mar 2024 1.13% 1.04% 1.64% -1.26% 0.20% 4.82%
        Fund (Net) 31 Mar 2024 1.12% 1.00% 1.48% -1.42% 0.04% 4.63%
        Benchmark
        Bloomberg AusBond Composite Bond Index
        		31 Mar 2024 1.12% 1.03% 1.47% -1.29% 0.17% 4.76%
        Difference (Gross) 31 Mar 2024 0.01% 0.01% 0.17% 0.03% 0.03% 0.06%
        Difference (Net) 31 Mar 2024 0.00% -0.03% 0.01% -0.13% -0.13% -0.13%

        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 or losses and income. 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

        Sector Allocation as of 31 Mar 2024

        Name Fund Benchmark
        Commonwealth Government 50.02% 50.12%
        Semi Government 31.22% 31.14%
        Government Related 5.09% 5.22%
        Supranational 4.66% 5.01%
        Corp-Finance 3.38% 4.53%
        Corp-Industries 2.32% 2.50%
        Corp-Util 1.83% 0.87%
        Other 1.49% 0.61%

        Credit Quality Allocation as of 31 Mar 2024

        Credit Quality Fund Benchmark
        Aaa 72.03% 70.82%
        Aa 22.61% 23.49%
        A 3.09% 3.04%
        Baa 2.27% 2.62%
        Other - 0.02%

        Maturity Allocation as of 31 Mar 2024

        Maturity Fund Benchmark
        0 - 1 Year 8.14% 6.83%
        1 - 3 Years 19.03% 20.81%
        3 - 5 Years 20.31% 21.00%
        5 - 7 Years 18.52% 17.43%
        7 - 10 Years 19.82% 20.30%
        10 - 20 Years 11.68% 11.38%
        > 20 Years 2.49% 2.25%

        Allocations are as of the date indicated, are subject to change, and should not be relied upon as current thereafter. 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.

        Source: State Street Global Advisors

        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. 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.

        Bloomberg Finance L.P. and its affiliates (collectively, "Bloomberg") do not approve or endorse this material and disclaim all liability for any loss or damage of any kind arising out of the use of all or any part of this material.

        This website is intended for persons resident in Australia. State Street Global Advisors, Australia Services Limited ABN 16 108 671 441, AFSL Number 274900 ("SSGA, ASL") is the product issuer. State Street Global Advisors, Australia, Limited (AFSL Number 238276, ABN 42 003 914 225) (“SSGA Australia”) is the Investment Manager. The material on this website is general information only and does not take into account your individual objectives, financial situation or needs. 

        You should seek professional advice and consider the Product Disclosure Statement (PDS) and target market determination, available at www.ssga.com, before deciding whether to acquire or continue to hold units in the Funds.

        You can access our PDS online or by calling us. The offer made in our PDS is available to persons receiving the PDS within Australia and applications from outside Australia will not be accepted. Past performance is not a reliable indicator of future performance. Investing entails risks and there can be no assurance that State Street Global Advisors will achieve profits or avoid incurring losses.

        Investing involves risk including the risk of loss of principal. This material should not be considered a solicitation to apply for interests in the Funds and investors should obtain independent financial and other professional advice before making investment decisions. There is no representation or warranty as to the currency or accuracy of, nor liability for, decisions based on such information. Performance quoted represents past performance, which is not a reliable indicator of future results. 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.

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