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The Strategy seeks to provide a total investment return in excess of the performance of its benchmark index (the "Index") over the long term.
BENCHMARK: S&P®/TSX® Capped Composite Index
Primarily equities of companies that are listed on Canadian exchanges and may occasionally include limited partnerships, warrants, special warrants, sub-receipts or installment receipts of such companies.
The Strategy uses a fundamental research-driven investment process to build a high-conviction portfolio of equities that we believe offer sustainable growth prospects at a reasonable valuation. After screening the investment universe, our analysts perform detailed company due-diligence, including quantitative forecasts of financial metrics, and a rigorous assessment of quality scored on proprietary metrics. Portfolio construction is based on choosing the companies that we believe offer the best combination of quality, sustainable growth, and valuation, while managing portfolio risk. The investment approach is disciplined and takes a long-term perspective.
In general, SSGA Canada intends to manage the Portfolio in accordance with the following guidelines, although the Portfolio may exceed any of such guidelines at any point in time and for indeterminate periods of time should SSGA Canada believe such action to be in the best interest of the Portfolio:
Number of Equity Issuer Holdings: 30 - 50
Maximum position in equity securities of an issuer: 10% and ± 5% relative
Sector* weight versus the Index: +/- 6%
S&P® is a registered trademark of Standard & Poor's Financial Services LLC and has been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by SSGA. TSX® is a trademark of TSX Inc. ("TSX") and has been licensed for use by S&P Dow Jones Indices LLC and SSGA. The S&P®/TSX® Capped Composite Index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by SSGA. SSGA's investment products are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC or its affiliates or TSX and none of S&P Dow Jones Indices LLC, its affiliates or TSX makes any representation regarding the advisability of investing in such investment products and none of such parties makes any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P®/TSX® Capped Composite Index.
*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.
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.
Images of NYSE Group, Inc. are used with permission of NYSE Group, Inc. Neither NYSE Group, Inc. nor its affiliated companies sponsor, approve of or endorse the contents of this program. Neither NYSE Group, Inc. nor its affiliated companies recommend or make any representation as to possible benefits from any securities or investments.