State Street Australian Fixed Income Index Trust

NAV

AUD $1.0600

as of 13 Nov 2019

Management Costs

0.16% p.a.

Base Currency

AUD

Fund Size

AUD $230.2 mn

as of 31 Oct 2019

Buy/Sell Spread

0.04%/0.04%


Key Features

Key Features

  • Core Index Exposure - a potential core Australian fixed income exposure for investors.
  • 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

    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

    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

    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 13 Nov 2019

    Fund Information as of 13 Nov 2019

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

    Fund Pricing as of 13 Nov 2019

    Fund Pricing as of 13 Nov 2019

    NAV Application Redemption
    AUD $1.0600 AUD $1.0604 AUD $1.0596
    NAV AUD $1.0600
    Application AUD $1.0604
    Redemption AUD $1.0596
    Most Recent NAV / NAV History

    Fund Performance
    View as

    Fund Performance

    As Of 1 Month 3 Months 1 Year 3 Years (p.a.) 5 Years (p.a.) Since Inception (p.a.)
    Fund (Gross) 31 Oct 2019 -0.48% 0.55% 10.21% 4.93% 5.03% 6.01%
    Fund (Net) 31 Oct 2019 -0.50% 0.51% 10.03% 4.76% 4.86% 5.81%
    Benchmark 31 Oct 2019 -0.49% 0.52% 10.06% 4.87% 4.97% 5.94%
    Difference (Gross) 31 Oct 2019 0.01% 0.02% 0.15% 0.06% 0.06% 0.07%
    Difference (Net) 31 Oct 2019 -0.01% -0.02% -0.02% -0.11% -0.11% -0.13%

    as of 31 Oct 2019

    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

    Top Holdings
    Download All Holdings: Monthly

    Sector Allocationas of 31 Oct 2019

    Sector Allocationas of 31 Oct 2019
    Name Fund Benchmark
    Commonwealth Government 51.42% 51.43%
    Semi Government 26.05% 25.73%
    Supranational 6.47% 6.70%
    Government Related 6.32% 6.77%
    Corp-Industries 4.45% 3.90%
    Corp-Finance 3.82% 4.12%
    Other 1.18% 0.67%
    Corp-Util 0.30% 0.68%

    Credit Quality Allocationas of 31 Oct 2019

    Credit Quality Allocationas of 31 Oct 2019
    Credit Quality Fund Benchmark
    Aaa 73.53% 74.21%
    Aa 19.78% 19.05%
    A 4.46% 3.90%
    Baa 2.22% 2.79%
    Other - 0.05%

    Maturity Allocationas of 31 Oct 2019

    Maturity Allocationas of 31 Oct 2019
    Maturity Fund Benchmark
    0 - 1 Year 7.50% 7.78%
    1 - 3 Years 19.07% 19.52%
    3 - 5 Years 17.00% 17.36%
    5 - 7 Years 15.40% 14.20%
    7 - 10 Years 25.22% 24.96%
    10 - 20 Years 13.65% 13.97%
    > 20 Years 2.16% 2.20%

    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


    Fund Documents

    Fund Documents


    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. 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.