State Street EUR Liquidity LVNAV Fund - Z Accumulating IE00B45B5111

Trans NAV
€983.9121
as of 30 Nov 2022
Net Assets
€6,996,237,842
as of 30 Nov 2022
WAM
23
WAL
43
as of 30 Nov 2022
Daily Factor
-
Yield
-
-
-
Net Performance
0.06%
-0.36%
as of 31 Oct 2022


Fund Objective


The objective of the Fund is to maintain a high level of liquidity, preserve capital and provide a return in line with Euro money market rates.


Fund Information as of 01 Dec 2022

ISIN IE00B45B5111
Ticker Symbol SGMCEZA ID
Currency EUR
Benchmark Euro short-term rate (€STR)
Investment Manager State Street Global Advisors Europe Limited
Structure OEIC - UCITS
Domicile Ireland
Regulator CBI
Share Class Inception Date 26 Aug 2011
Fund Inception Date 27 Jul 2001
S&P Fund Rating* AAAm
Fitch Fund Rating* AAAmmf
Dealing Frequency Daily
Total Expense Ratio 0.05%
Min. initial investment €500,000
Trading Deadline DD 01:30PM Irish time
Settlement Accumulating NAV T+0
IMMFA Member Yes

*All portfolio information provided is as of the date referenced, unless otherwise noted, and is subject to change. Ratings by S&P and Fitch apply to the credit quality of a portfolio and are not a recommendation to buy, sell or hold securities of a fund, are subject to change, and do not remove market risks associated with investments in the fund. For complete information on the methodology and definitions used by each rating agency, please visit the following websites. S&P- http://www.standardandpoors.com/ratings/funds-mmf/en/us,  Fitch- www.fitchratings.com


Historical NAV

The Historical Net Asset Value ("NAV") chart displays the Floating NAV of the fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by any Government agency. None of the State Street Corporation, State Street Bank and Trust Company, State Street Global Advisors or their affiliates ("State Street Entities") guarantee the value of your investment.


Fund Level Market Value Test

The Fund Level Market Value Test is designed to show the extent of deviation, if any, of the low volatility net asset value ("LVNAV") of the Fund using the amortized cost method of valuation for securities with fewer than 75 days to maturity. During the calculation the Fund's NAV, portfolio securities with fewer than 75 days to maturity are valued at the fund's acquisition cost, and adjusted for amortization of premium or accretion of discount, intended to create a "stable NAV". This is compared to portfolio securities being valued based on available market quotations or current market factors, creating a likely "floating NAV". This calculation is required to be performed at least daily and is subject to the review of the Fund's Board of Trustees. If the Stable NAV of an LVNAV MMF Fund deviates from the NAV of the LVNAV MMF Fund by more than 20 basis points any redemption and subscription following such deviation shall be undertaken at the price equal to the NAV of the relevant Fund.

Although a money market fund seeks to preserve the value of your investment at 1.00 Stable NAV unit per share, it is possible to lose money by investing in a money market fund. Investors should have no expectation of capital support to the Fund from State Street Entities.


Current Net Fund Performance

  • Share Class Inception Date: 26 Aug 2011
  • Index Inception Date: 30 Jun 2000

as of 31 Oct 2022

As Of Net Assets(€MM) 1 Month 3 Month YTD 1 Year 2021 3 Year 5 Year 10 Year Since Inception
26 Aug 2011
Fund 31 Oct 2022 €6,096.47 0.06% 0.08% -0.26% -0.36% -0.59% -0.51% -0.45% -0.27% -0.18%
Index 31 Oct 2022 - 0.06% 0.07% -0.26% -0.35% -0.68% -0.65% -0.57% -0.42% -0.34%

Source: State Street Global Services / SSGA Ltd, Bloomberg - 31 October 2022

"3 Year" yield figures are shown for the three year period as of the previous year end.

All returns are net of fee.

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.

Due to the use of RDM no longer being allowed, the EUR Liquidity LVNAV Fund classes are all currently deaccumulating income. In this process the NAV will decrease by the negative income of the fund each day. This changes the fund accounting methodology from a type that treats negative income as income, to one which treats this income as a capital de-accumulation.

On the 18th February 2019 the NAV value was converted to €1000.0000 per unit. This allows the full negative income movement to be captured in the price, providing additional transparency and accuracy, as well as resulting in a smoother movement in the unit price. The conversion factor used was 1:92.53176.

The change in NAV value per unit does not change the value of the account as there is no difference in value under these two methods.

Average Annual Total Returns reflect the reinvestment of dividends, capital gains distributions all fee waivers and expense reimbursements.


Historical Fund Net Performance

Date Net Assets(€MM) 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
26 Aug 2011
31 Oct 2022 €6,096.47 0.06% 0.08% -0.26% -0.36% -0.51% -0.45% -0.27% -0.18%
30 Sep 2022 €5,058.57 0.03% -0.02% -0.32% -0.47% -0.51% -0.47% -0.28% -0.19%
31 Aug 2022 €4,871.53 -0.01% -0.10% -0.35% -0.55% -0.51% -0.49% -0.28% -0.19%
31 Jul 2022 €5,300.88 -0.04% -0.13% -0.33% -0.59% -0.51% -0.49% -0.27% -0.19%
30 Jun 2022 €5,160.85 -0.04% -0.14% -0.29% -0.60% -0.51% -0.49% -0.27% -0.19%
31 May 2022 €5,714.25 -0.05% -0.14% -0.25% -0.60% -0.51% -0.49% -0.26% -0.19%
30 Apr 2022 €5,436.72 -0.05% -0.14% -0.20% -0.60% -0.51% -0.49% -0.25% -0.18%
31 Mar 2022 €5,859.22 -0.05% -0.16% -0.16% -0.60% -0.51% -0.48% -0.25% -0.18%
28 Feb 2022 €5,770.35 -0.05% -0.16% -0.11% -0.60% -0.51% -0.48% -0.24% -0.18%
31 Jan 2022 €5,270.16 -0.06% -0.16% -0.06% -0.60% -0.51% -0.48% -0.23% -0.18%

No data available.

Source: State Street Global Services / SSGA Ltd - 31 October 2022

All returns are net of fee.

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.

Average Annual Total Returns reflect the reinvestment of dividends, capital gains distributions all fee waivers and expense reimbursements.

Data is of the date indicated, is subject to change, and should not be relied upon as current thereafter.

Unless otherwise noted all information contained herein is that of the SSgA EUR Liquidity Fund.


Liquid Assets

Daily Liquid Assets are defined as cash, direct obligations of the Government, securities that will mature (or are subject to a demand feature that is exercisable and payable) within one business day, or proceeds of pending sales of portfolio securities due within one business day.

Weekly Liquid Assets are defined as cash, direct obligations of the Government, certain securities issued by entities acting as an instrumentality of (and controlled or supervised by) the Government. Securities that will mature (or are subject to a demand feature that is exercisable and payable) within five business days, or proceeds of pending sales of portfolio securities due within five business days.


Net Inflows/Outflows

The Daily Net Inflows/Outflows chart is designed to show the variability of the Fund's daily cash flows. The net inflows or outflows of the Fund are calculated by taking the daily total new Fund share purchases (including exchanges made into the Fund) and subtracting the daily total Fund share redemptions (including exchanges made out of the Fund). The existence of any daily inflows or outflows will not necessarily have a direct or indirect correlation to the Fund's investment performance.

The Monthly Net Inflows/Outflows chart is designed to show the variability of the Fund's monthly cash flows. The net inflows or outflows of the Fund are calculated by taking the monthly total new Fund share purchases (including exchanges made into the Fund) and subtracting the monthly total Fund share redemptions (including exchanges made out of the Fund). The existence of any monthly inflows or outflows will not necessarily have a direct or indirect correlation to the Fund's investment performance.


Maturity Distributions as of 31 Oct 2022

Overnight
31.78%
 
2 - 7 Days
16.58%
 
8 - 30 Days
19.73%
 
31 - 90 Days
23.17%
 
91-180 Days
3.20%
 
180-397 Days
5.54%
 

Source: SSGA Ltd - Legal Maturity, 31 October 2022

Rounding differences may occur as asset values are calculated to greater than one decimal place.


Fund Sector Allocation as of 31 Oct 2022

Sector Weight
Commercial Paper 32.75%
Time Deposits 23.96%
Certificates of Deposit 21.00%
Asset Backed Commercial Paper 10.00%
Repurchase Agreement 5.41%
Government Agency 3.51%
Government Bill 2.83%
Collateralised Commercial Paper 0.54%

Source: SSGA Ltd, 31 October 2022


Credit Quality Distribution as of 31 Oct 2022

Sector Weight
A-1 75.05%
A-1+ 24.95%

Source: SSGA Ltd, 31 October 2022

Short-term ratings from S&P are used. If no short-term rating is available, the lower long-term rating is used. S&P deems the investments rated 'A-1' maturing in 7 days or less equivalent to 'A-1+'. This document reflects actual issue ratings.


Minimum Investment

Min. initial investment €500,000
Subsequent €5,000

Payment Details

Currency EUR
Beneficiary Bank Bank of America N.A., Frankfurt
Beneficiary Account Name State Street Global Advisors Liquidity plc.
Beneficiary BIC BOFADEFX
Beneficiary Account Number 19923018
CHAPS Sort Code -
IBAN DE14500109000019923018

Dealing Procedures


Deals may be placed by telephone, by fax or online through a portal. If dealing by fax, please ensure the appropriate dealing form is used for the share class.

Dealing Team

To place a trade call +353 1 853 8281 or send fax to +353 1 523 3704.

Stock Transfers

If you wish to carry out a stock transfer between any of your accounts, please contact us online or call +44 (0)20 3395 2333 for the procedure outlining the required original documentation.

Queries

For all queries relating to trade instructions, distributions, contract notes, statements and payments contact us online or call +44 (0)20 3395 2333.


Payment Instructions

Please ensure monies are transferred by CHAPS, SWIFT or Federal Wire transfer to the appropriate account on settlement date before the cut-off times specified. Redemption proceeds will be paid to the respective currency account as per instructions on the account opening form, unless advised otherwise in writing by an authorised signatory.

Trading Deadline DD 01:30PM Irish time
Subscription Settlement Cut-Off MT202 (pre-advised): EUR 3.30pm Irish Time
MT103 (pre-advised): EUR 3.30pm Irish Time
Redemption Receipt Settlement MT202 (pre-advised): EUR 3.30pm Irish Time
MT103 (pre-advised): EUR 3.30pm Irish Time

All returns are net of fee.

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.

Average Annual Total Returns reflect the reinvestment of dividends, capital gains distributions all fee waivers and expense reimbursements.

Data is of the date indicated, is subject to change, and should not be relied upon as current thereafter.

Unless otherwise noted all information contained herein is that of the SSgA EUR Liquidity Fund.