Skip to main content

Equity securities of Silicon Valley Bank (SIVB) have been valued at a zero price based on the determination of the funds' Valuation Committee. Equity securities of SIVB were first priced at zero as of the close of business on 10 March 2023.

State Street Climate ESG International Equity Fund

AUD $1.4256
as of 28 Mar 2023
Management Costs
0.24% p.a.
Base Currency
Fund Size
AUD $348.9 mn
as of 28 Feb 2023
Buy/Sell Spread

Key Features

  • Climate Aware – favours companies with lower carbon emissions and higher exposures to green revenues, while avoiding companies with large fossil fuel reserves or brown revenues.
  • ESG Scoring - seeks increased exposure to companies with strong ESG ratings using State Street’s ESG scoring methodology (R-Factor™).
  • Exclusionary Screening - screens out companies with material involvement in controversial business activities including tobacco, controversial (including nuclear) weapons, thermal coal, alcohol, gambling and adult entertainment.
  • Diversified Investment - provides investors with a cost efficient way of gaining diversified exposure to international stock markets.

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

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

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

  • Climate Mitigation - aims to reduce exposure to the flow of heat-trapping greenhouse gases into the atmosphere and increase exposure to the “green” economy.
  • Climate Adaptation - increases exposure to companies that are better prepared for the possible physical, economic and regulatory impacts of climate change, including GHG-reduction targets and transition plans.
  • Sustainable & Transparent ESG - increases exposure to companies that score well on financially material global sustainability issues as well as market specific corporate governance codes.
  • Screening - excludes companies with material business activity involving tobacco, controversial (including nuclear) weapons, thermal coal, gambling, alcohol or adult entertainment; and companies that exhibit severe violations of the United Nations corporate sustainability principles or have extreme ESG controversies.

The Fund uses an optimised portfolio construction framework which aims 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 29 Mar 2023

Benchmark MSCI World ex-Australia Index
Inception Date 30 Jun 2016
Management Costs 0.24% p.a.
Buy/Sell Spread 0.07%/0.04%
Minimum Initial Investment AUD 25,000
Pricing Daily
Distribution Frequency Semi-Annually
ARSN Code 611 640 361

Fund Pricing as of 28 Mar 2023

NAV AUD $1.4256
Application AUD $1.4265
Redemption AUD $1.4251

Fund Performance

  • Fund Inception Date: 30 Jun 2016

as of 28 Feb 2023

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) 28 Feb 2023 2.00% -0.67% -1.49% 8.19% 10.43% 11.61%
Fund (Net) 28 Feb 2023 1.98% -0.73% -1.73% 7.93% 10.16% 11.36%
Growth 28 Feb 2023 1.98% -1.32% -5.65% 2.06% 3.70% 5.31%
Distribution 28 Feb 2023 0.00% 0.59% 3.92% 5.87% 6.46% 6.05%
28 Feb 2023 2.09% -0.65% -0.48% 8.51% 10.55% 11.66%
Difference (Gross) 28 Feb 2023 -0.09% -0.02% -1.01% -0.32% -0.13% -0.05%
Difference (Net) 28 Feb 2023 -0.11% -0.08% -1.25% -0.58% -0.39% -0.31%

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 Fund return figures contained herein reflect Total Returns and are provided on a net and gross of fees basis. The Total Return is the sum of the Growth (or Price) Return and Distribution Return which is shown net of management fees and costs.

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 Holdings as of 28 Feb 2023

Name Fund
Download All Holdings: Monthly

Sector Allocation as of 28 Feb 2023

Name Fund Benchmark
Information Technology 22.66% 21.69%
Financials 15.14% 14.20%
Health Care 13.81% 13.37%
Consumer Discretionary 11.28% 10.84%
Industrials 10.41% 10.83%
Communication Services 7.34% 6.72%
Consumer Staples 6.58% 7.53%
Energy 4.28% 5.29%
Real Estate 3.14% 2.57%
Materials 3.03% 4.03%
Utilities 2.33% 2.94%

Country Allocation as of 28 Feb 2023

Country Fund Benchmark
United States 67.61% 69.22%
Japan 7.13% 6.27%
Canada 4.53% 3.51%
United Kingdom 3.79% 4.53%
France 3.52% 3.67%
Germany 2.93% 2.51%
Switzerland 2.23% 2.91%
Netherlands 1.84% 1.32%
Denmark 1.30% 0.87%
Hong Kong 0.82% 0.82%
Other 4.29% 4.37%

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

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.