by
the Adviser of any amounts waived or reimbursed. This waiver and/or
reimbursement may not be terminated prior to October 31, 2024 except with the
approval of the Board.
The
Adviser pays all the 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 Trustees’ counsel fees), acquired fund
fees and expenses, litigation expenses and other extraordinary expenses.
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.
In
addition, cash collateral from lending activities is invested in the State
Street Navigator Securities Lending Portfolio II, an affiliated fund, for which
SSGA FM serves as investment adviser. See Note 9 for additional information
regarding securities lending.
Other
Transactions with Affiliates
The
Funds may invest in affiliated entities, including securities issued by State
Street Corporation, affiliated funds, or entities deemed to be affiliates as a
result of the Funds owning more than five percent of the entity’s voting
securities or outstanding shares. Amounts relating to these transactions during
the period ended December 31, 2023 are disclosed in the Schedules of
Investments.
Due
to Custodian
In
certain circumstances, the Funds may have cash overdrafts with the Custodian due
to expense payments, capital transactions, trading of securities, investment
operations or derivative transactions. The Due to Custodian amount, if any,
reflects cash overdrawn with State Street, as custodian, who is an affiliate of
the Funds.
5. Trustees’
Fees
The
fees and expenses of the Independent Trustees and one interested, non-management
Trustee are paid directly by the Funds. The Independent Trustees and one
interested, non-management Trustee are reimbursed for travel and other
out-of-pocket expenses in connection with meeting attendance and industry
seminars.
6. Investment
Transactions
Purchases
and sales of investments (excluding in-kind transactions and short term
investments) for the period ended December 31, 2023, were as follows:
|
|
Purchases
|
|
Sales
|
|
SPDR Dow Jones REIT ETF
|
$
20,924,760 |
|
$
25,699,314 |
|
SPDR Portfolio S&P 400 Mid Cap ETF
|
843,517,532
|
|
836,597,555
|
