State Street Floating Rate Fund


AUD $1.0055

as of 23 Jan 2020

Management Costs

0.25% p.a.

Base Currency


Fund Size

AUD $110.9 mn

as of 31 Dec 2019

Buy/Sell Spread


Key Features

Key Features

  • Access High-Quality - provides access to high-quality interest bearing floating rate notes, ADI certificate of deposits and overnight cash deposits.
  • Capital Preservation and Liquidity - an actively managed approach that aims to preserve capital and maintain liquidity across different market environments.
  • Yield Enhancement - potential to deliver a yield above the RBA official cash rate.
  • Income Generation - income is distributed regularly on a monthly basis.1
  • Low Fees - buy/sell spread is 0%/0.03% and management fees are 0.25% p.a.

  • Investment Objective

    Investment Objective

    The State Street Floating Rate Fund ("the Fund") seeks to outperform the RBA Cash Rate by 1.0% to 1.5% over a rolling three-year period before fees.

    About this Benchmark

    About this Benchmark

    The RBA Cash Rate represents the target overnight money market interest rate in Australia.

    Investment Strategy

    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.

    Fund Information as of 27 Jan 2020

    Fund Information as of 27 Jan 2020
    Benchmark Inception Date Management Costs Buy/Sell Spread Minimum Initial Investment
    RBA Cash Rate 18 Oct 2017 0.25% p.a. 0.00%/0.03% AUD 25,000
    Benchmark RBA Cash Rate
    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
    Daily Monthly SST4725AU 618 268 821
    Pricing Daily
    Distribution Frequency Monthly
    APIR Code SST4725AU
    ARSN Code 618 268 821

    Fund Pricing as of 23 Jan 2020

    Fund Pricing as of 23 Jan 2020
    NAV Application Redemption
    AUD $1.0055 AUD $1.0055 AUD $1.0052
    NAV AUD $1.0055
    Application AUD $1.0055
    Redemption AUD $1.0052
    Most Recent NAV / NAV History

    Fund Performance
    View as

    Fund Performance

    • Fund Inception Date: 18 Oct 2017
    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 2019 0.15% 0.49% 3.18% - - 2.74%
    Fund (Net) 31 Dec 2019 0.13% 0.43% 2.91% - - 2.41%
    Benchmark 31 Dec 2019 0.07% 0.19% 1.18% - - 1.36%
    Difference (Gross) 31 Dec 2019 0.09% 0.30% 2.00% - - 1.38%
    Difference (Net) 31 Dec 2019 0.06% 0.24% 1.73% - - 1.05%

    as of 31 Dec 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 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

    Information & Schedules

    Information & Schedules

    Insights & Investment Ideas

    Insights & Investment Ideas

    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.