State Street Defensive Emerging Markets Equity Fund
Data updated: 2022-07-28
C000143817 — State Street Defensive Emerging Markets Equity Fund. Emerging Markets Blend / Core Equity. Holdings, fees, performance and SEC filings.
C000143817 Fund Overview
State Street Defensive Emerging Markets Equity Fund is a US mutual fund managed by Ssga Funds, categorised as Emerging Markets Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ssga Funds
- Category: Emerging Markets Blend / Core Equity
- Assets under management: $41.32M
- 1-year return: -5.6%
- SEC CIK: 0000826686
- SEC series ID: S000005187
- Share class ID: C000143817
C000143817 Investment Objective and Strategy
State Street Defensive Emerging Markets Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ssga Funds.
Investment objective
State Street Disciplined Emerging Markets Equity Fund (the “Fund”) seeks to provide maximum total return, primarily through capital appreciation, by investing primarily in securities of foreign issuers.
Principal investment strategy
The Fund will invest at least 80% of its net assets (plus borrowings, if any) in equity securities issued by companies domiciled or doing a substantial portion of their business in countries determined by the Fund's Adviser to have a developing or emerging economy or securities market. An emerging market is any market included in the MSCI Emerging Markets Index (the Index), the Fund's benchmark. The Fund will provide shareholders with at least sixty (60) days' notice prior to any change in its 80% investment policy. The Fund considers a company to be doing a substantial portion of its business in countries that have a developing or emerging economy or securities market if (i) the company has at least 50% of its assets in one or more such countries; (ii) the company derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services provided in one or more such countries; or (iii) the company's securities are traded principally in an emerging market.
In seeking to identify stocks offering the potential for capital growth, the Adviser employs a proprietary quantitative process. The process evaluates the relative attractiveness of eligible securities based on the correlation of certain historical economic and financial factors (such as measures of growth potential, valuation, quality and investor sentiment) and based on other historical quantitative metrics. Additionally, the process may incorporate an element designed to evaluate the macroeconomic environment and prevailing market conditions. The process is intended to allow the Adviser to evaluate eligible securities and then rank eligible securities in the Fund's investment universe in the order of their attractiveness as potential Fund investments. The Adviser also uses a quantitative analysis to determine the expected volatility of a stock's market price.
Volatility is a statistical measurement of up and down fluctuations in the value of a security over time. Volatility may result in rapid and dramatic price swings. The Adviser seeks to favor securities with low exposure to market risk factors and low security-specific risk. In determining the exposure of a security to such risk factors, the Adviser may take into account, among other things, such considerations as a security's market capitalization, its price momentum, the security's valuation, the liquidity of the security, the degree to which the issuer is leveraged, and the issuer's growth prospects. The Adviser also implements risk constraints at the overall portfolio level focusing on such factors as industry and sector exposures, market capitalization exposure, and geographic exposures.
Through these quantitative processes of security selection and portfolio diversification, the Adviser expects that the portfolio will be subject to a relatively low level of absolute risk (as defined by statistical measures of volatility, such as standard deviation of returns) and should exhibit relatively low volatility compared with the Index over the long term. The Adviser may make changes over time in the Fund's portfolio to reflect changes in one or more of the various risk factors described above. From time to time, the Adviser may make a qualitative judgment not to implement fully the results of the quantitative investment process if it believes that the process did not take into account all of the information relevant to a particular investment or the Fund's portfolio in the aggregate, or that a different investment might be more appropriate.
There can be no assurance that the Fund will in fact achieve any targeted level of volatility or experience lower volatility than the Index, nor can there be any assurance that the Fund will produce returns in excess of the Index. The Fund expects to invest primarily in common stocks. The Fund may purchase securities in their initial public offerings, and may hold securities that are restricted as to resale. The Fund may invest in other investment companies, including exchange-traded funds, to the extent permitted by applicable law (including those advised by the Adviser). The Fund may hold a portion of its assets in cash and cash instruments. While the Fund may invest in companies of any market capitalization, it expects to primarily invest in large capitalization companies. The Fund also may lend its securities and engage in active trading.
The Fund may invest in derivatives, such as futures contracts and total return swaps, in order to gain broad equity market exposures pending investments of cash, or to reduce market exposures pending the sales of securities. The Fund may enter into foreign currency futures, forward contracts, and options to hedge currency risk, although the Adviser does not currently anticipate that such transactions will play any significant role of the investment process.
C000143817 Holdings
Top 10 holdings of State Street Defensive Emerging Markets Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | 3.87% |
| Baidu Inc | 3.33% |
| Alrosa PJSC | 2.47% |
| United Microelectronics Corp | 2.38% |
| KT&G Corp | 2.37% |
| HCL Technologies Ltd | 2.30% |
| First Financial Holding Co Ltd | 2.16% |
| O2 Czech Republic AS | 2.15% |
| Aldar Properties PJSC | 2.13% |
| China Construction Bank Corp | 2.04% |
C000143817 Portfolio Allocation
Asset-class allocation of State Street Defensive Emerging Markets Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.4% |
| Cash & Equivalents | 3.1% |
C000143817 Performance
Total returns for C000143817 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -5.6% |
| 3 years (annualised) | 7.3% |
C000143817 Risk Information
Risk metrics for C000143817, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.9%
C000143817 Costs and Fees
C000143817 costs about $100 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.00%
- Gross expense ratio: 1.48%
- Portfolio turnover: 35%
- Brokerage commissions: 5.34 bps of average net assets (SEC N-CEN)
C000143817 Cashflows
Over the 12 months to 2022-05, State Street Defensive Emerging Markets Equity Fund had net outflows of $1.02M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-05 | −$17.79K |
| 2022-04 | −$180.65K |
| 2022-03 | −$211.98K |
| 2022-02 | −$389.08K |
| 2022-01 | $57.29K |
| 2021-12 | $2.04M |
C000143817 Debt Constituents
No individual debt constituents are reported in State Street Defensive Emerging Markets Equity Fund's latest SEC N-PORT filing.
C000143817 Prospectus and SEC Filings
Official State Street Defensive Emerging Markets Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-12-20
- Prospectus (485BPOS) — filed 2020-12-21
- Prospectus (485BPOS) — filed 2020-01-13
- Portfolio holdings (N-PORT) — filed 2022-07-28
- Portfolio holdings (N-PORT) — filed 2022-04-27
- Portfolio holdings (N-PORT) — filed 2022-01-27
- Annual census (N-CEN) — filed 2021-11-30
- Annual census (N-CEN) — filed 2020-11-05
Related Funds
Other Emerging Markets Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.