State Street details new State Street Aggregate Bond Index Fund

By Toni Weeks

San Luis Obispo, Calif., July 16 – State Street Institutional Investment Trust gave details about its new State Street Aggregate Bond Index Fund in an N-1A filing with the Securities and Exchange Commission.

The fund seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the dollar-denominated investment-grade bond market over the long term.

The underlying fund is the Barclays U.S. Aggregate index, which includes investment-grade corporate bonds, government bonds, mortgage pass-through securities, commercial mortgage-backed securities and other asset-backed securities that have at least one year remaining to maturity and have $250 million or more of outstanding face value.

Mahesh Jayakumar and Karen Tsang are the portfolio managers.

The fund offers class A, class I and class K shares. The ticker symbols are SSFCX, SSFDX and SSFEX, respectively.

There is a 3.75% sales load on class A shares. Including a management fee of 0.03% and including the effects of a fee waiver and expense reimbursement agreement, total annual fund operating expenses are expected to be 0.54% for class A, 0.29% for class I and 0.09% for class K shares.

Boston-based SSgA Funds Management, Inc. is the investment adviser.

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