The Strategy seeks an investment return that approximates as closely as practicable, before expenses, the performance of its custom benchmark index (the "Index") over the long term.
BENCHMARK: Composite: 60% Bloomberg U.S. Aggregate Bond Index, 12% S&P 500® Index, 8% Real Asset Custom Blended Index, 7% MSCI ACWI ex USA IMI Index, 5% ICE BofA US High Yield Constrained Index, 5% Bloomberg U.S. 1-3 Year Government /Credit Bond Index, 3% Russell Small Cap Completeness® Index
The Strategy seeks to offer diversification across asset classes and market capitalization ranges by investing approximately 60% of the Strategy's assets in U.S. investment grade bonds, 12% in U.S. large cap stocks, 8% in real assets, 7% in global stocks, 5% in U.S. high yield bonds, 5% in U.S. short term gov/credit bonds, and 3% in U.S. small/mid cap stocks. The Strategy also employs a disciplined rebalancing policy to ensure it remains aligned with its risk profile. SSGA allocates the Strategy's assets among the asset classes represented in the Strategy's Index, rebalancing the Strategy's exposures monthly.
SSGA may implement the Strategy's asset allocations through investments in investment pools (which may, but will not necessarily, be registered under the U.S. Investment Company Act of 1940, as amended) managed or sponsored by SSGA or an affiliate. Because of the unit issuance processes employed by the various underlying investment pools, allocations by the Strategy to certain pools on a given trading day may be invested in such pools at the next trading day’s net asset value per unit. This will result in the portion of the Strategy’s assets being invested in such investment pools being held in cash for the trading day and may result in increased tracking error. This could adversely impact the return to any investor. The Strategy, or any of the investment pools in which it invests, may hold a portion of its assets in cash and cash instruments, including short-term investment vehicles managed by SSGA or an affiliate. SSGA will not normally enter into foreign currency exchange transactions for the Strategy. The Strategy's return may not match the return of its Index.
As part of its proxy voting program, SSGA is offering eligible investors that hold units in certain Portfolios a range of voting policies that can be applied to the voting of shares held in that Portfolio. Investors in these select Portfolios may, from time to time, enter into arrangements with SSGA pursuant to which such investors direct that a pro rata portion of shares held by the Portfolio attributable to such investors be voted pursuant to a voting policy made available by a third party proxy voting administrator. For a Portfolio structured as a pooled investment vehicle, an investor’s choice of voting policy and the voting of shares in accordance with such policy may not reflect, and may in fact conflict with, the concerns and values of one or more other investors in the Portfolio. To the extent that shares held by the Portfolio are voted pursuant to SSGA’s proxy voting program, there is a risk that such shares may be voted in a way that is different to how other equivalent shares held by the Portfolio are being voted. Please also refer to “Essential SSGA: A Summary of State Street Global Advisors’ U.S.-Domiciled Commingled Funds, U.S.-Managed Separately Managed Accounts and Related Conflicts of Interest” for additional information on SSGA’s policy on proxy voting and the risk factors associated with the SSGA proxy voting program.
The availability of the SSGA proxy voting program is subject to any applicable regulatory, operational (including in respect of fractional voting rights), local market (including any applicable local restrictions on split voting), tax, cost or other constraints of the third party proxy voting or SSGA. SSGA reserves the right to suspend or cancel, in full or in part, the SSGA proxy voting program (in any one instance or more broadly), including with immediate effect, if required by applicable law or regulation or if SSGA otherwise considers that such action is appropriate. This may result in shares being voted in accordance with the SSGA’s proxy voting policy rather than in accordance with an investor’s choice of voting policy.
Note:
“Bloomberg®” and all Bloomberg Indices are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by SSGA. Bloomberg is not affiliated with SSGA, and Bloomberg does not approve, endorse, review, or recommend any SSGA product. Prior to 3/31/2022, all Bloomberg fixed income indices were known as Bloomberg Barclays fixed income indices.
Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell Small Cap Completeness® Index is a trademark of Frank Russell Company.
The MSCI ACWI ex USA IMI Index is a trademark of MSCI Inc.
The S&P 500® Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by SSGA. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). SSGA's investment products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P or their respective affiliates.
Source ICE BofA, used with permission. ICE BofA does not guarantee the suitability, quality, accuracy, timeless, and/or completeness of the ICE BofA indices, and does not sponsor, endorse,or recommend SSGA or its products or services.
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.
