State Street Global Advisors has brought a disciplined approach to the design and management of our institutional target date funds since 2005. In 2014, we applied the sophistication of our target date solution to a mutual fund suite. Now, we are excited to celebrate the five year anniversary of moving from institutional to everyone.
Gregory Porteous, Head of DC Intermediary Strategy, and Heather Bailey, Senior Retirement Director, talk about State Street’s DC history and thriving DC Advisors practice, bringing products, like the target date mutual fund series, to everyone.
Number of funds in Morningstar since inception are as follows for each Vintage year: 170 managers — 2060 Fund, 187 managers — 2050 to 2030 Funds, 194 managers — 2020 Fund, and 157 managers — Income Fund. Performance contained above includes the reinvestment of dividends and other corporate earnings, are calculated in US dollars, and are provided on a net of fees basis, reflecting the deduction of investment management fees. The fund’s investment adviser is contractually obligated until April 30, 2019 to waive its management fee and/or to reimburse the fund for expenses to the extent that Total Annual Fund Operating Expenses (inclusive of Acquired Fund Fees and Expenses, but exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees, and distribution, shareholder servicing, and sub-transfer agency expenses) exceed 0.09% of average daily net assets on an annual basis (the “Net Expense Ratio”). This waiver and/or reimbursement may not be terminated during the relevant period except with the approval of the fund’s Board of Trustees. The gross expense ratio is the fund’s total annual operating expense ratio and is gross of any fee waivers or expense reimbursements. The gross expense ratios for State Street 2060 — CL K (SSDYX) is 1.62%, State Street 2050 — CL K (SSDLX) is 0.28%, State Street 2040 — CL K (SSCQX) is 0.21%, State Street 2030 — CL K (SSBYX) is 0.20%, State Street 2020 — CL K (SSBOX) is 0.26% and State Street Income — CL K (SSFOX) is 0.39%, as of September 30, 2019. © 2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) does not constitute investment advice offered by Morningstar; and (4) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is not a guarantee of future results. The performance is calculated in US dollars. Investing involves risk including the risk of loss of principal. Please see disclosure slide for important risk disclosures.