State Street Defensive Global Equity Fund

Data updated: 2021-05-28

C000143840 — State Street Defensive Global Equity Fund. Global (incl. US) Blend / Core Equity · $1.71M AUM. Holdings, fees, performance and SEC filings.

C000143840 Fund Overview

State Street Defensive Global Equity Fund is a US mutual fund managed by State Street Institutional Investment Trust, categorised as Global (incl. US) 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: State Street Institutional Investment Trust
Category: Global (incl. US) Blend / Core Equity
Assets under management: $1.71M
1-year return: 27.8%
SEC CIK: 0001107414
SEC series ID: S000046026
Share class ID: C000143840

C000143840 Investment Objective and Strategy

State Street Defensive Global Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by State Street Institutional Investment Trust.

Investment objective

The State Street Disciplined Global Equity Fund (the “Disciplined Global Equity Fund” or the “Fund”) seeks to provide competitive long-term returns while maintaining low long-term volatility relative to the broad global equity market.

Principal investment strategy

Under normal circumstances, the Fund will invest at least 80% of its net assets (plus borrowings, if any, for investment purposes) in equity securities. The Fund will provide shareholders with at least sixty (60) days' notice prior to any change in its 80% policy. The notional value of the Fund's investments in derivatives or other synthetic instruments that provide exposure comparable, in the judgment of the Adviser, to the foregoing types of investments may be counted toward satisfaction of the Fund's 80% policy. SSGA Funds Management, Inc. (SSGA FM or the Adviser), the investment adviser to the Fund, seeks to select a portfolio of securities that it expects over the long term to exhibit low volatility both in absolute terms and in comparison with the MSCI World Index (the Index) and provide competitive returns as compared with the Index.

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 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 by periodic testing of the portfolio's composition against proprietary risk models, focusing on such factors as industry and sector exposures, portfolio diversification levels, 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 that the portfolio should exhibit relatively low volatility compared with the Index over the long term. The Adviser will make changes over time in the Fund's portfolio to reflect changes in 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.

Although the Fund targets a low level of volatility in absolute terms and in comparison to the Index, there is no assurance that the Fund will achieve its target volatility, and the Fund may be subject to significant changes in value over short or longer timeframes. There also can be no assurance that the Fund will produce returns in excess of the Index. The Fund will generally invest at least 40% of its assets in securities of issuers economically tied to countries other than the United States and will generally hold securities of issuers economically tied to at least three countries, including the United States. The Fund will generally consider an investment in an issuer to be tied to a particular country if (i) the issuer is organized in such country or maintains a principal place of business in such country; (ii) the issuer's securities are traded principally in such country; or (iii) during the issuer's most recent fiscal year, it derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in such country or has at least 50% of its assets in such country.

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 may invest in derivatives, such as futures contracts, in order to gain broad equity market exposures pending investments of cash, or to reduce market exposures pending the sales of securities. The Fund reserves the right to enter into foreign currency futures and forward contracts to hedge currency risk, although the Adviser does not currently anticipate that such transactions will play any significant role in the investment process.

The Fund seeks to achieve its investment objective by investing substantially all of its investable assets in the Disciplined Global Equity Portfolio, which has substantially identical investment policies to the Fund. When the Fund invests in this master-feeder structure, the Fund's only investments are shares of the Portfolio and it participates in the investment returns achieved by the Portfolio. Descriptions in this section of the investment activities of the Fund also generally describe the expected investment activities of the Portfolio.

C000143840 Performance

Total returns for C000143840 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	27.8%

C000143840 Risk Information

Risk metrics for C000143840, derived from monthly returns in SEC filings.

1-year volatility (annualised): 13.0%

C000143840 Costs and Fees

C000143840 costs about $95 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.95%
Gross expense ratio: 7.11%
Portfolio turnover: 67%
Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000143840 Cashflows

Over the 12 months to 2021-03, State Street Defensive Global Equity Fund had net outflows of $614.42K, from monthly SEC N-PORT filings.

Month	Net flow
2021-03	$0
2021-02	−$408.42K
2021-01	$950
2020-12	$107.56K
2020-11	−$210.00K
2020-10	$0

C000143840 Debt Constituents

No individual debt constituents are reported in State Street Defensive Global Equity Fund's latest SEC N-PORT filing.

C000143840 Prospectus and SEC Filings

Official State Street Defensive Global Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Global (incl. US) 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.