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Closed to new investors effective January 18, 2023. Closed to existing shareholders effective April 14, 2023. This fund will be liquidating on or about April 21, 2023.

State Street Institutional Premier Growth Equity Fund - Service Class SSPSX

Considering the risks: A principal risk of investing in the Fund is the risk that the value of equity securities may decline. The Fund may invest in securities of a limited number of issuers to achieve a potentially greater investment return than a fund that invests in a larger number of issuers. As a result, price movements of a single issuer's securities will have a greater impact on this Fund's net asset value, causing it to fluctuate more than that of a more widely diversified fund. These and other risk considerations are discussed in the Fund's prospectus and summary prospectus.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-800-242-0134. Read it carefully.

The Fund's investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investment in securities markets. Investment markets can be volatile and prices of investments can change substantially due to various factors including, but not limited to, economic growth or recession, changes in interest rates, changes in the actual or perceived creditworthiness of issuers, and general market liquidity. The Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, or other events could have a significant impact on the Fund and its investments.

as of Mar 24 2023
Assets Under Management
$26.18 M
as of Feb 28 2023
Gross Expense Ratio
1 Day Nav Change
+$0.00 (0.00%)
as of Mar 24 2023
Overall Morningstar Rating
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as of Feb 28 2023

Fund Objective

The Fund seeks long-term growth of capital and future income by investing at least 80% of its net assets under normal circumstances in equities such as common and preferred stocks. The Fund invests primarily in a limited number of large and medium sized companies (meaning companies with a market capitalization of $2 billion or more) that the portfolio managers believe have above average growth histories and/or growth potential.

Investment Strategy

The Fund invests primarily in a limited number of large and medium sized companies (meaning companies with a market capitalization of $2 billion or more) that the portfolio managers believe have above-average growth histories and/or growth potential. The portfolio managers select equity securities from a number of industries based on the merits of individual companies. In seeking to satisfy the Fund's investment objective with respect to future income, the portfolio managers also consider companies that currently pay dividends or that have the potential to pay dividends in the future. Stock selection is key to the performance of the Fund.

Fund Information as of Mar 27 2023

Investment Style Large Cap Growth
Primary Benchmark Russell 1000 Growth Index
Secondary Benchmark S&P 500 Index
Inception Date Jan 03 2001
Gross Expense Ratio
Base Currency USD
Investment Manager SSGA Funds Management, Inc.
Management Team Fundamental Equities
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annually

Investment Team

William Douglas Sandow

Listing Information as of Mar 27 2023

Exchange Trading Currency Listing Date Ticker CUSIP

Fund Characteristics as of Feb 28 2023

Number of Holdings 39
Med Market Cap ($M) 124,417.55
Weighted Average Market Cap ($M) 729,953.06
Price/Book Ratio 6.80
Price/Earnings Ratio FY1 19.27
Dividend Yield (%)
Annual Portfolio Turnover (%) 40.87

Index Characteristics as of Feb 28 2023

Number of Holdings 506
Med Market Cap ($M) 16,216.00
Weighted Average Market Cap ($M) 696,353.48
Price/Book Ratio 8.93
Price/Earnings Ratio FY1 20.21
Dividend Yield (%) 1.07

Fund Net Asset Value as of Mar 24 2023

Percent Change 0.00%
Price Change $0.00
Offer Price $0.15
NAV 52 Week High $10.37(2022-03-29)
NAV 52 Week Low $0.13(2023-01-09)

Morningstar Rating as of Feb 28 2023

Category Overall 3 Years 5 Years 10 Years
Large Growth ★★★ ★★★ ★★★ ★★★
# of Funds in Category - 1130 1049 801

Fund Performance

  • Fund Inception Date: Jan 03 2001

as of Feb 28 2023

As Of 1 Month 3 Month 6 Month QTD YTD
Fund at NAV Feb 28 2023 -6.67% -1.36% -2.30% 7.69% 7.69%
Primary Benchmark
Feb 28 2023 -1.19% -1.15% -1.24% 7.05% 7.05%
Secondary Benchmark
Feb 28 2023 -2.44% -2.28% 1.26% 3.69% 3.69%

as of Dec 31 2022

As Of 1 Month 3 Month 6 Month QTD YTD
Fund at NAV Dec 31 2022 -8.41% 1.78% -4.49% 1.78% -31.72%
Primary Benchmark
Dec 31 2022 -7.66% 2.20% -1.48% 2.20% -29.14%
Secondary Benchmark
Dec 31 2022 -5.76% 7.56% 2.31% 7.56% -18.11%

as of Feb 28 2023

As Of 1 Year 3 Year 5 Year 10 Year Since Inception
Jan 03 2001
Fund at NAV Feb 28 2023 -16.98% 8.84% 9.86% 12.61% 7.53%
Primary Benchmark
Feb 28 2023 -13.34% 12.05% 11.55% 14.26% 7.28%
Secondary Benchmark
Feb 28 2023 -7.69% 12.15% 9.82% 12.25% 7.14%

as of Dec 31 2022

As Of 1 Year 3 Year 5 Year 10 Year Since Inception
Jan 03 2001
Fund at NAV Dec 31 2022 -31.72% 4.73% 9.05% 12.47% 7.23%
Primary Benchmark
Dec 31 2022 -29.14% 7.78% 10.96% 14.10% 7.00%
Secondary Benchmark
Dec 31 2022 -18.11% 7.66% 9.43% 12.56% 7.02%

as of Feb 28 2023

2017 2018 2019 2020 2021 2022
Fund at NAV 28.52% -2.41% 37.57% 34.21% 25.36% -31.72%
Primary Benchmark
30.21% -1.51% 36.39% 38.49% 27.60% -29.14%
Secondary Benchmark
21.83% -4.38% 31.49% 18.40% 28.71% -18.11%

Past performance is not a reliable indicator of future performance. The investment return and principal value of an investment will fluctuate. Upon redemption, shares may be worth more or less than the original cost. The current performance may be higher or lower than the quoted performance. All results are historical and assume the reinvestment of dividends and capital gains. To view SEC standardized performance select the most recent quarterly period ending March, June, September or December. All other periods shown are non-standardized performance and are not valid without SEC standardized performance.

The performance figures shown above reflect the impact of fees and expenses for the funds' share class, and include the reinvestment of all income dividends and capital gains distributions, but do not include the effect of taxation. State Street Global Advisors ("SSGA") may have reimbursed certain expenses or waived certain fees during the periods shown. Absent those reimbursements, the Fund's total return or yield would have been lower.

On July 1, 2016 State Street Corporation, the parent company of SSGA Funds Management, Inc., and State Street Global Markets, LLC acquired the asset management and advisory services business of GE Asset Management, Incorporated, the former investment adviser to the Fund. As of that date, SSGA Funds Management, Inc. became the investment adviser to the Fund and State Street Global Markets, LLC became the distributor for the Fund. Effective May 1, 2017, State Street Global Markets, LLC was renamed State Street Global Advisors Funds Distributors, LLC. Any information, data or performance provided prior to that date is that of GE Asset Management, Incorporated.

None of the Funds or share classes (if applicable) assess a sales charge upon the purchase or redemption of shares.

The Total Annual Fund Operating Expenses shown for each Fund share class reflects the total annual operating expenses of the Fund share class prior to any fee waivers or expense reimbursements, as provided in the most recent Fund prospectus. Actual Fund operating expenses will change over time based on Fund asset levels and other factors and may be higher or lower than those estimated for the current fiscal year.

Index returns are unmanaged and do not reflect the deduction of any fees or expenses. Index returns reflect all items of income, gain and loss and the reinvestment of dividends and other income as applicable. You can not invest directly in an index.

*Morningstar Large Growth open end funds universe. Information has been obtained from Morningstar, a third party source deemed to be reliable; however State Street Global Advisors ("SSGA") has not undertaken any independent analysis and provides no representation as to the accuracy of such information. Use of this content requires expert knowledge. This analytical data is intended for institutional investors only and is based on gross performance information before deduction of advisory fees.

© Morningstar 2022. All Rights Reserved. The information, data analysis and opinions contained herein: (1) include the confidential and proprietary information of Morningstar Inc., (2) may not be copied or re-distributed, (3) do not constitute investment advice by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analysis or opinions or their use. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results.

Gross Expense Ratio: 0.84%

Risk Analysis

as of Feb 28 2023
as of Dec 31 2022

Month End as of Feb 28 2023

Risk Factor 3 Years 5 Years
Alpha -2.94% -1.51%
Beta 1.01 1.00
Std Deviation 24.39% 21.40%
Information Ratio -0.52 -0.33
R-squared 93.65% 94.21%
Sharpe Ratio 0.33 0.40
Tracking Error 6.15% 5.15%

Quarter End as of Dec 31 2022

Risk Factor 3 Years 5 Years
Alpha -2.60% -1.47%
Beta 0.97 0.97
Std Deviation 22.82% 20.34%
Information Ratio -0.90 -0.59
R-squared 97.96% 97.56%
Sharpe Ratio 0.18 0.39
Tracking Error 3.38% 3.24%

The risk statistics are calculated against the fund's primary benchmark.

Risk Measures - Alpha, Beta and R-Squared are calculated against the noted benchmark. Annualized standard deviation and Sharpe Ratio are not calculated against a benchmark.

Alpha - Measures a manager's contribution to performance due to security selection or market timing relative to the index.

Beta - Measures the portfolio's sensitivity to market movements in the index.

R-Squared - A measure that indicates the extent to which fluctuations in portfolio returns are correlated with those of the index.

Standard Deviation - A measure of total risk. It measures the degree to which a fund's quarterly returns vary from the mean of the fund's quarterly returns over the period measured.

Sharpe Ratio -A measure that uses standard deviation and excess return to determine reward per unit of risk.

Top Holdings

Fund Top Holdings as of Feb 28 2023

Name Weight
APPLE INC 10.38%
VISA INC 3.72%

Sector Allocation

as of Feb 28 2023
as of Feb 28 2023

Fund Sector Allocation as of Feb 28 2023

Sector Weight
Information Technology 46.34%
Health Care 13.14%
Consumer Discretionary 11.37%
Communication Services 10.01%
Industrials 7.00%
Financials 4.14%
Consumer Staples 4.03%
Cash Equivalents & Other 2.37%
Real Estate 1.50%
Accrued Income 0.10%

Index Sector Allocation as of Feb 28 2023

Sector Index
Information Technology 44.75%
Health Care 12.02%
Consumer Discretionary 15.29%
Communication Services 6.77%
Industrials 7.85%
Financials 3.26%
Consumer Staples 5.59%
Cash Equivalents & Other 0.00%
Real Estate 1.54%
Accrued Income 0.00%

The securities information regarding holdings, allocations and other characteristics are presented to illustrate examples of securities that have been bought and the diversity of areas in which we may invest as of a particular date. It may not be representative of the portfolio's current or future investments and should not be construed as a recommendation to purchase or sell a particular security.

The index characteristics and index sector allocation shown above reflect the Fund's Primary Benchmark values.

"Cash Equivalents" includes an investment in the State Street Institutional Government Money Market Fund. "Other" includes accruals. As of 07/01/2016 State Street Global Advisors is the Investment Advisor of the Fund. SSGA Funds Management, Inc. serves as the investment advisor of the State Street Institutional Government Money Market Fund.

Data for the S&P 500 Index is available upon request.

Russell 1000 Growth Index® is an unmanaged index that measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values.

Russell Investment Group owns the Russell Index data, including all applicable trademarks and copyrights, used by SSGA in these materials. This presentation may contain confidential information and any unauthorized use or redistribution is strictly prohibited. Russell Investment Group is not responsible for the configuration of this material or for any inaccuracy in SSGA's presentation thereof.

S&P 500® (S&P 500) Index is an unmanaged, market capitalization-weighted index of 500 widely held U.S. stocks recognized by investors to be representative of the stock market in general. Standard & Poor's and S&P 500 are trademarks of the Standard & Poor's Financial Services LLC ("S&P").