Announcements


Fee Reduction for Flagship Active Equity Funds

State Street Global Advisors is pleased to announce a fee reduction for the State Street Australian Equity Fund and State Street Global Equity Fund (“the Funds”), effective 1 July 2020. 

The new Management Costs (“MC”) for the Funds are:

Fund   APIR  

New MC

1 July 2020

Previous

MC

Reduction

MC

State Street Australian Equity Fund SST0048AU 0.70%p.a 0.79%p.a 0.09%p.a
State Street Global Equity Fund SST0050AU 0.85%p.a 0.98%p.a 0.13%p.a

The Management Costs for the Fund include the net effect of Goods and Services Tax (GST), which is the applicable rate of GST less any reduced input tax credit available to the Fund. We may increase the fees or expense recovery amounts which comprise the management costs for the Fund or introduce new fees due to reasons such as changing economic conditions and changes in regulation. If we propose to do so, we will give you 30 days’ prior notice. We cannot charge more than the Fund’s constitution allows, and unitholder approval is required to change the constitution in this regard.

Source: State Street Global Advisors 

Both funds seek to deliver strong total returns whilst also managing total risk. These objectives are especially relevant in the current uncertain economic environment. 

The fee change comes after State Street reduced the fee of the State Street Multi-Asset Builder Fund 12 months ago and highlights the firm’s continuous focus on offering value to investors. 

The State Street Active Quantitative Equities Team is led by Olivia Engel and consists of 43 investment professionals located across State Street’s key investment centres.  As at 31 March 2020, the team managed USD26.7bn including more than AUD500mn across both of the Funds.