State Street Climate ESG International Equity Fund

NAV

AUD $1.2948

as of 12 Aug 2020

Management Costs

0.24% p.a.

Base Currency

AUD

Fund Size

AUD $249.8 mn

as of 31 Jul 2020

Buy/Sell Spread

0.08%/0.05%


Key Features

Key Features

  • Climate Focus – seeks to achieve results through a powerful mix of mitigation of current impacts and adaptation to future climate risks.
  • Aligns with Paris Accord – aims to align with the most ambitious goals stemming from the landmark 2015 Paris Agreement — including limiting climate change to the 2° Celsius warming scenario over post-industrial levels.1
  • ESG Scoring - seeks increased exposure to sustainable companies that score well on our ‘Responsibility Factor’ (R-Factor™)
  • Exclusionary Screening - screens out companies with ESG risk and reputational issues.
  • Asset Stewardship Impact - active engagement with portfolio companies on issues that promote long-term value creation.


Investment Objective

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

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

Investment Strategy

The Fund allows investors to deploy capital across multiple dimensions of ESG and Climate themes via:

  • Climate Mitigation - aims to reduce the flow of heat-trapping greenhouse gases into the atmosphere and increase exposure to new energy and green companies.
  • Climate Adaptation - increases exposure to companies working proactively to minimise their exposure to actual or expected physical, economic and regulatory impacts of climate change. This includes companies benefitting from low carbon technologies and demonstrating preparedness for the inevitable risks posed by climate change.
  • Sustainable & Transparent ESG - increases exposure to companies that score well on financially material sustainability issues relative to their industry peers, as well as performance against market specific corporate governance codes.
  • Screening - excludes companies involved in activities related to: controversial weapons, tobacco, severe ESG controversies and violations of the UN Global Compact.

The Fund uses an optimised portfolio construction framework 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 13 Aug 2020

Fund Information as of 13 Aug 2020
Benchmark Inception Date Management Costs Buy/Sell Spread Minimum Initial Investment
MSCI World ex-Australia Index 30 Jun 2016 0.24% p.a. 0.08%/0.05% AUD 25,000
Benchmark MSCI World ex-Australia Index
Inception Date 30 Jun 2016
Management Costs 0.24% p.a.
Buy/Sell Spread 0.08%/0.05%
Minimum Initial Investment AUD 25,000
Pricing Distribution Frequency APIR Code ARSN Code ISIN
Daily Semi-Annually SST0057AU 611 640 361 AU60SST00571
Pricing Daily
Distribution Frequency Semi-Annually
APIR Code SST0057AU
ARSN Code 611 640 361
ISIN AU60SST00571

Fund Pricing as of 12 Aug 2020

Fund Pricing as of 12 Aug 2020
NAV Application Redemption
AUD $1.2948 AUD $1.2958 AUD $1.2942
NAV AUD $1.2948
Application AUD $1.2958
Redemption AUD $1.2942
Most Recent NAV / NAV History

Fund Performance

Fund Performance

  • Fund Inception Date: 30 Jun 2016

as of 31 Jul 2020

As Of 1 Month 3 Months 1 Year 3 Years (p.a.) 5 Years (p.a.) Since Inception (p.a.)
30 Jun 2016
Fund (Gross) 31 Jul 2020 0.65% 3.19% 5.65% 12.67% - 12.54%
Fund (Net) 31 Jul 2020 0.63% 3.13% 5.39% 12.41% - 12.29%
Benchmark 31 Jul 2020 0.60% 2.90% 5.24% 12.44% - 12.29%
Difference (Gross) 31 Jul 2020 0.04% 0.29% 0.40% 0.23% - 0.25%
Difference (Net) 31 Jul 2020 0.02% 0.23% 0.15% -0.04% - 0.00%

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 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. 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 Holdingsas of 31 Jul 2020

Top Holdingsas of 31 Jul 2020
Name Fund
APPLE INC 4.64%
MICROSOFT CORP 3.87%
AMAZON.COM INC 3.54%
FACEBOOK INC-CLASS A 1.41%
TESLA INC 1.31%
ALPHABET INC-CL C 1.24%
ALPHABET INC-CL A 0.96%
TOKYO ELECTRON LTD 0.95%
Visa Inc 0.87%
PROCTER & GAMBLE CO/THE 0.86%
Download All Holdings: Monthly

Sector Allocationas of 31 Jul 2020

Sector Allocationas of 31 Jul 2020
Name Fund Benchmark
Information Technology 23.14% 21.92%
Health Care 14.17% 14.05%
Financials 12.94% 11.91%
Consumer Discretionary 12.28% 11.36%
Communication Services 9.89% 9.06%
Industrials 9.59% 10.03%
Consumer Staples 7.45% 8.39%
Real Estate 2.99% 2.83%
Materials 2.97% 4.10%
Utilities 2.44% 3.42%
Energy 2.15% 2.93%

Country Allocationas of 31 Jul 2020

Country Allocationas of 31 Jul 2020
Country Fund Benchmark
United States 66.41% 67.67%
Japan 7.38% 7.63%
United Kingdom 4.16% 4.36%
Canada 4.15% 3.24%
Germany 4.04% 2.97%
France 3.71% 3.41%
Switzerland 2.42% 3.28%
Netherlands 1.64% 1.38%
Denmark 1.16% 0.78%
Hong Kong 0.92% 1.04%
Other 4.01% 4.25%

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


Fund Footnote

1 IPCC (Intergovernmental Panel on Climate Change). 2014. “IPCC Fifth Assessment Report: Climate Change 2014.” https://www.ipcc.ch/report/ar5/.

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 specified ESG criteria may trail the returns on a portfolio of securities which include such companies. A portfolio's ESG 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.