to
derivative assets and liabilities available for offset and net of collateral at
June 30, 2023:
Amounts
presented on the Schedules of Investments and Statements of Assets and
Liabilities are not net settlement amounts but gross.
4. Fees
and Transactions with Affiliates
Advisory
Fee
The
Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement
with SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM"). For its advisory
services to the Funds, facilities furnished and expenses borne by the Adviser,
each Fund pays the Adviser a fee (“Management/Advisory fee”) accrued daily and
paid monthly, based on a percentage of each Fund’s average daily net assets as
shown in the following table:
|
|
Annual
Rate |
|
SPDR Bloomberg Emerging Markets Local Bond
ETF
|
0.30%
|
|
SPDR Bloomberg International Corporate Bond
ETF
|
0.50
|
|
SPDR Bloomberg International Treasury Bond
ETF
|
0.35
|
|
SPDR Bloomberg Short Term International Treasury
Bond ETF
|
0.35
|
|
SPDR FTSE International Government
Inflation-Protected Bond ETF
|
0.50
|
From
time to time, the Adviser may waive all or a portion of its Management fee. The
Adviser has contractually agreed to waive a portion of its Management fee and/or
reimburse expenses in an amount equal to any acquired fund fees and expenses
(excluding holdings in acquired funds for cash management purposes, if any) for
each Fund until April 30, 2024.
This
waiver and/or reimbursement does not provide for the recoupment by the Adviser
of any amounts waived or reimbursed. This waiver and/or reimbursement may not be
terminated prior to April 30, 2024 except with the approval of the Funds’ Board
of Trustees.
The
Adviser pays all expenses of each Fund other than the Management fee, brokerage
expenses, taxes, interest, fees and expenses of the Trust’s Trustees, who are
not “interested persons” of the Trust, as defined in the 1940 Act (“Independent
Trustees”) (including any Trustee’s counsel fees), litigation expenses, acquired
fund fees and expenses and other extraordinary expenses.
State
Street Global Advisors Limited receives fees from the Adviser for its services
as the sub-adviser to the SPDR Bloomberg International Corporate Bond ETF and
SPDR Bloomberg Emerging Markets Local Bond ETF.
Administrator,
Custodian, Sub-Administrator and Transfer Agent Fees
SSGA
FM serves as administrator and State Street Bank and Trust Company (“State
Street”), an affiliate of the Adviser, serves as custodian, sub-administrator
and transfer agent. State Street receives fees for its services as custodian,
sub-administrator and transfer agent from the Adviser.
Distributor
State
Street Global Advisors Funds Distributors, LLC (“SSGA FD” or the “Distributor”),
an affiliate of the Adviser, serves as the Distributor of the Trust.
Other
Transactions with Affiliates - Securities Lending
State
Street, an affiliate of the Funds, acts as the securities lending agent for the
Funds, pursuant to an amended and restated securities lending authorization
agreement dated January 6, 2017, as amended.
Net
proceeds collected by State Street on investment of cash collateral or any fee
income less rebates payable to borrowers are paid as follows: If the calendar
year to date net proceeds are below a specified threshold across SPDR
ETFs each Fund retains eighty five percent (85%) of the net proceeds and
fifteen percent (15%) of such net proceeds is payable to State Street. Starting
the business day following the date that calendar year to date net proceeds
exceeds a specified threshold, each Fund retains ninety percent (90%) of the net
proceeds and ten percent (10%) of such net proceeds is payable to State
Street.
