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Elfun Government Money Market Fund ELMXX

Considering the risks: Interest rate movements and other risk factors will affect the fund's share price and yield. Bond prices generally move in the opposite direction of interest rates. Thus, as the prices of bonds in the fund adjust to a rise in interest rates, the fund's share price may decline below $1.00. The price of a bond is affected by the issuer's or counterparty's credit quality. Changes in an entity's financial condition and general economic conditions can affect its ability to honor financial obligations and therefore its credit quality. Lower quality bonds are generally more sensitive to these changes than higher quality bonds. These and other risk considerations are discussed in the Fund's prospectus and summary prospectus.

NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$1.00
as of Oct 09 2024
Base Currency
USD
Assets Under Management
$139.42 M
as of Sep 30 2024
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.26%
1 Day Nav Change
+$0.00 (0.00%)
as of Oct 09 2024

Fund Objective

The Elfun Government Money Market Fund seeks a high level of current income consistent with prudent investment management and the preservation of capital.

Investment Strategy

The Fund attempts to meet its investment objective by investing in obligations issued or guaranteed as to principal and/or interest, as applicable, by the U.S. government or its agencies and instrumentalities, such as U.S. Treasury securities and securities issued by the Government National Mortgage Association (“Ginnie Mae”), which are backed by the full faith and credit of the United States; obligations issued or guaranteed by the Federal Home Loan Mortgage Corporation (“FreddieMac”), the Federal National Mortgage Association (“Fannie Mae”); and U.S. government-sponsored entities such as the Federal Home Loan Bank, and the Federal Farm Credit Banks Funding Corporation, which are not backed by the full faith and credit of the United States; and Repurchase agreements collateralized by U.S. government securities.

Fund Information as of Oct 10 2024

Investment Style Cash
Benchmark DAILY-LINKED 90-DAY T-BILL
Inception Date Jun 13 1990
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.26%
Base Currency USD
Investment Manager SSGA Funds Management, Inc.
Management Team Fixed Income, Currency & Cash Investments Team
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annually

Listing Information as of Oct 10 2024

Exchange Trading Currency Listing Date Ticker CUSIP
NASDAQ REGULAR MARKET USD Jun 13 1990 ELMXX 286275102

Fund Characteristics as of Sep 30 2024

Weighted Average Life (Years) 0.24
Weighted Average Maturity (Days) -397.00

Yields as of Sep 30 2024

7 Day Current Yield 4.86%
7 Day Effective Yield 4.98%

Fund Net Asset Value as of Oct 09 2024

NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$1.00
Percent Change 0.00%
Price Change $0.00
Offer Price $1.00
NAV 52 Week High $1.00(Oct 09 2024)
NAV 52 Week Low $1.00(Oct 09 2024)

Historical Daily Market NAV ($)

Liquid Assets

Daily liquid assets means: (i) Cash; (ii) Direct obligations of the U.S. Government; (iii) Securities that will mature, or are subject to a demand feature that is exercisable and payable, within one business day; or (iv) Amounts receivable and due unconditionally within one business day on pending sales of portfolio securities.

Weekly liquid assets means: (i) Cash; (ii) Direct obligations of the U.S. Government; (iii) Government securities that are issued by a person controlled or supervised by and acting as an instrumentality of the government of the United States pursuant to authority granted by the Congress of the United States that: (A) Are issued at a discount to the principal amount to be repaid at maturity without provision for the payment of interest; and (B) Have a remaining maturity date of 60 days or less; (iv) Securities that will mature, or are subject to a demand feature that is exercisable and payable, within five business days; or (v) Amounts receivable and due unconditionally within five business days on pending sales of portfolio securities.

Net Inflows/Outflows ($)

Net Fund Flows means: Subscriptions + Reinvestment of Dividends - Redemptions.

Fund Performance

  • Fund Inception Date: Jun 13 1990

as of Sep 30 2024

As Of 1 Year 3 Year 5 Year 10 Year Since Inception
Jun 13 1990
Fund at NAV Sep 30 2024 5.24% 3.40% 2.17% 1.47% 2.76%
Benchmark
DAILY-LINKED 90-DAY T-BILL
Sep 30 2024 5.46% 3.49% 2.25% 1.63% 2.62%

as of Sep 30 2024

As Of 1 Year 3 Year 5 Year 10 Year Since Inception
Jun 13 1990
Fund at NAV Sep 30 2024 5.24% 3.40% 2.17% 1.47% 2.76%
Benchmark
DAILY-LINKED 90-DAY T-BILL
Sep 30 2024 5.46% 3.49% 2.25% 1.63% 2.62%

as of Sep 30 2024

As Of 1 Month 3 Month 6 Month QTD YTD
Fund at NAV Sep 30 2024 0.41% 1.28% 2.57% 1.28% 3.89%
Benchmark
DAILY-LINKED 90-DAY T-BILL
Sep 30 2024 0.44% 1.37% 2.71% 1.37% 4.04%

as of Sep 30 2024

As Of 1 Month 3 Month 6 Month QTD YTD
Fund at NAV Sep 30 2024 0.41% 1.28% 2.57% 1.28% 3.89%
Benchmark
DAILY-LINKED 90-DAY T-BILL
Sep 30 2024 0.44% 1.37% 2.71% 1.37% 4.04%

as of Sep 30 2024

2018 2019 2020 2021 2022 2023
Fund at NAV 1.55% 1.99% 0.32% 0.00% 1.45% 4.89%
Benchmark
DAILY-LINKED 90-DAY T-BILL
1.99% 2.12% 0.38% 0.05% 1.46% 5.01%

Performance data quoted represents past performance. Past performance does not guarantee future results. 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. 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.

SSGA Funds Management, Inc. became the Elfun Government Money Market Fund’s sub-adviser on October 1, 2014.  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. As of that date, 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.

The 7-day current yield for money market funds is the simple average of each of the last 7 days' daily yields. The current yield more closely reflects the current earnings of the Fund than the total return performance information. The 7-day effective yield for money market funds is the result of the current 7-day yield with a compounding assumption.

The returns of each index shown do not include the effect of management fees, sales charges, operating expenses of a fund or other account, or taxes. The returns of the index are unmanaged and do not reflect the actual cost of investing in the instruments that comprise it. You cannot invest directly in an index.

Gross Expense Ratio: 0.26%

Risk Analysis

as of Sep 30 2024
as of Sep 30 2024

Month End as of Sep 30 2024

Risk Factor 3 Years 5 Years
Alpha -0.10% -0.08%
Beta 0.00 0.00
Std Deviation 0.60% 0.64%
Information Ratio -0.84 -0.88
R-squared 96.71% 98.06%
Sharpe Ratio -0.84 -0.88
Tracking Error 0.12% 0.09%

Quarter End as of Sep 30 2024

Risk Factor 3 Years 5 Years
Alpha -0.10% -0.08%
Beta 0.00 0.00
Std Deviation 0.60% 0.64%
Information Ratio -0.84 -0.88
R-squared 96.71% 98.06%
Sharpe Ratio -0.84 -0.88
Tracking Error 0.12% 0.09%

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.

Sector Allocation

Fund Sector Allocation as of Sep 30 2024

Sector Weight
Treasuries 63.72%
Cash Equivalents & Other 25.71%
Agencies 10.22%
Financial Institutions 0.36%

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.

"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.

Purchase Information

Please refer to the applicable Account Applications provided within Documents

To Purchase by wire

You may make initial or subsequent investments by wiring federal funds to State Street, by:

1. Telephoning the Customer Service Department at 1-800-242-0134 between 9:00 a.m. and 8:00 p.m., Eastern Time, and stating: (a) your account registration number, address and social security or tax identification number, (b) the name of the fund in which the investment is to be made and the account number, and (c) the exact amount being wired.

2. Instructing the wiring bank to wire federal funds to:

U.S. Bank, NA

777 East Wisconsin Avenue

Milwaukee, WI 53202-5207

ABA# 075000022

Credit: U.S. Bancorp Fund Services, LLC

Account #112-952-137

Further Credit:

(name of Fund to be purchased)

(shareholder name and address)

(shareholder account number)

Correspondence Information

State Street Global Advisors

c/o U.S. Bank Global Fund Services

P.O. Box 701

Milwaukee, WI 53201-0701

Telephone: (800)-242-0134

Your financial institution may charge a fee for wire transactions.

Wire orders received by the close of regular trading on the New York Stock Exchange (“NYSE”) are executed at that day’s net asset value per share. Wire orders received after the close of regular trading on the NYSE receive the next business day’s price. The Funds and U.S. Bank, N.A. are not responsible for the consequences of delays resulting from the banking or Federal Reserve wire system, or from incomplete wiring instructions.

GE Asset Management Incorporated, the former investment adviser to the Elfun Government Money Market Fund (the "Fund"), made a voluntary capital contribution to the Fund in the amount of $384,504.16 on October 20, 2016, in order to restore the Fund's mark-to-market net asset value to $1.00 per unit measured as of October 20, 2016, and to address a prior year distribution matter. The Fund was required to disclose additional information about this event on Form N-CR and to file this form with the Securities and Exchange Commission. Any Form N-CR filing submitted by the Fund is available on the EDGAR Database on the Securities and Exchange Commission's Internet site at http://www.sec.gov.

Daily-Linked 90-Day T-Bill is a measure of the performance of U.S. Treasury bills currently available in the market place having a remaining maturity of 90 days. Treasury bills provide fixed rates of return as well as principal guarantees if held to maturity. The returns of the 90-Day T-Bill do not include the effect of sales charges (if any), fees, expenses or taxes associated with a mutual fund.

The Fund’s investment adviser, SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”), and its affiliates, may voluntarily reduce all or a portion of their fees and/or reimburse expenses of the Fund to the extent necessary to maintain a certain minimum net yield, which may vary from time to time, in SSGA FM’s sole discretion (any such waiver or reimbursement of expenses by a Service Provider being referred to herein as a “Voluntary Reduction”), or a yield below a specified level, which may vary from time to time in the Adviser’s sole discretion. The Fund has agreed, subject to certain limitations, to reimburse the Adviser and its affiliates for the full dollar amount of any Voluntary Reduction incurred beginning on May 1, 2020. During the fiscal year ended December 31, 2023, the Adviser and its affiliates did not waive any fees or reimburse any expenses under the Voluntary Reduction. Each of the Adviser and its affiliates may, in its sole discretion, irrevocably waive receipt of any or all reimbursement amounts due from the Fund. Any future reimbursement by the Fund of the Voluntary Reduction would increase the Fund’s expenses and may reduce the Fund’s yield during such period. There is no guarantee that the Voluntary Reduction will be in effect at any given time or that the Fund will be able to avoid a negative yield.