The Strategy seeks an investment return that approximates as closely as practicable, before expenses, the performance of its benchmark index (the "Index") over the long term.
BENCHMARK: Russell 2000® Index
The Strategy is managed using an "indexing" investment approach, by which SSGA attempts to approximate, before expenses, the performance of the Index over the long term. In lieu of investment directly in the securities making up the Index, the Portfolio will typically purchase (1) index futures contracts based on the Index, (2) an optimized basket of index futures contracts, (3) options on those futures, or (4) engage in other transactions involving the use of derivatives. The Portfolio's return may not match the return of the Index for a number of reasons. For example, the return on the investments selected by SSGA may not correlate precisely with the return on the Index. Brokerage and margin costs and expenses associated with investments in derivatives may reduce the Portfolio's return. The Portfolio may incur a number of other operating expenses not applicable to the Index. The Portfolio may not be fully invested at times as a result of cash flows into or out of the Portfolio.
The Strategy will typically maintain a substantial cash balance. The Strategy will normally invest that cash in other short-term pooled investment vehicles sponsored, managed, or otherwise affiliated with SSGA, such as, for example, registered investment companies, private investment pools, or commingled trust funds. More information on the cash strategy is available upon request. The Strategy may at any time invest in additional or different investment vehicles, or may invest directly in short term investments, in SSGA's discretion. Because the Portfolio seeks to achieve a return based on the return of the Index, it will continue to pursue the investment strategies described above, even during times when SSGA expects the level of the Index to decline.
The Strategy's return may not match the return of the Index.
Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. The Russell 2000® Index is a trademark of Frank Russell Company.
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.
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 1-800-997-7327, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SSGA Funds.
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