Fund Description

The fund was incepted in March 1998 and is managed by SSgA Funds Management, Inc. The fund seeks long-term growth of capital through investment primarily in stocks of small- and medium-sized companies and stocks currently selling below what fund managers believe to be their fundamental value. The fund's share price could fluctuate considerably over the short term; thus, the fund is best suited for individuals with long-term time horizons. Under ordinary conditions, the fund invests at least 80% of its total assets in common stocks of companies whose market capitalization at the time of investment is similar to the market capitalization of companies represented in the Russell 2000 Index. The fund may invest 20% of its assets in U.S. dollar-denominated securities of foreign issuers, including American Depository Receipts (ADRs), short-term debt securities and high-quality money market securities. Dividends and capital gains are declared and paid annually.