The Strategy seeks to provide long term capital growth.
BENCHMARK: MSCI USA Index
Primarily equities of companies in the MSCI USA Index; and may include other companies.
The Strategy uses a fundamental research based investment process to build a concentrated portfolio of North American equities we believe to be undervalued. We seek to exploit valuation anomalies in the belief that in the long run share prices should ultimately reflect a company's sustainable earnings power. The concentrated nature of the portfolio ensures that our investments are active, high conviction positions, focused on what, we believe, are our most compelling opportunities. SSGA employs the following constraints in managing the Strategy:
Maximum Number of Stocks: 40
Minimum Number of Stocks: 30
Maximum Individual Stock Position: 10%
Maximum Equity: 100% of the portfolio
Minimum Equity: 90% of the portfolio
SSGA seeks to outperform the Index over the long term and does not have a specified tracking error limit. There can of course be no assurance that any Strategy will achieve that level of performance.
The MSCI USA Index is a trademark of MSCI Inc.
There are risks involved with investing, including possible loss of principal. You should refer to the Strategy's Disclosure Document (SDD) for a complete description of the risks of investing in the Strategy. Please contact SSGA's relationship management team for a copy of the SDD.
This information is for informational purposes only, not to be construed as investment advice or a recommendation or offer to buy or sell any security. Investors should always obtain and read an up-to-date investment services description or prospectus before deciding whether to appoint an investment manager or to invest in a fund. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. There are no guarantees regarding the achievement of investment objectives, target returns, portfolio construction, allocations or measurements such as alpha, tracking error, stock weightings and other information ratios. The views and strategies described may not be suitable for all investors. SSGA does not provide tax or legal advice. Prospective investors should consult with a tax or legal advisor before making any investment decision. Investing entails risks and there can be no assurance that SSGA will achieve profits or avoid incurring losses.
Performance quoted represents past performance, which is no guarantee 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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