The State Street Global Advisors-advised funds, particularly the SHM issuer, utilize a sampling strategy to track the Bloomberg Managed Money Municipal Short Term Index, allowing flexibility in selecting securities. Managed by Nuveen Asset Management, LLC, the fund aims to closely mirror the risk and return characteristics of the index while considering factors like asset size. Typically, it invests at least 80% of its assets in index securities, ensuring a focus on U.S. dollar-denominated short-term tax-exempt municipal bonds, including various types like general obligation, revenue, pre-refunded, and insured bonds. These securities must meet stringent criteria, including high credit ratings and specific maturity and issuance requirements. The index, maintained by Bloomberg Index Services Limited, guides the fund's composition and weightings. As of July 31, 2023, the index comprised 3,642 securities with an average maturity of 2.99 years. The fund may also include non-index debt securities, cash equivalents, and money market instruments in its portfolio, while excluding certain bond types and derivatives.
SHM Dividend, as part of the State Street Global Advisors-advised funds, operates with a strategic focus on income generation within the municipal bond market. Leveraging the Bloomberg Managed Money Municipal Short Term Index, the fund employs a sampling strategy overseen by Nuveen Asset Management, LLC to maintain a portfolio that closely mirrors the index's risk-return profile. Predominantly investing at least 80% of its assets in index securities, SHM Dividend emphasizes tax-exempt municipal bonds, including general obligation, revenue, pre-refunded, and insured bonds, subject to strict eligibility criteria such as high credit ratings and specific maturity ranges. Under the guidance of Bloomberg Index Services Limited, the index's sponsor, the fund ensures adherence to composition and weighting guidelines. As of July 31, 2023, the index included 3,642 securities with an average maturity of 2.99 years. SHM Dividend's investment approach underscores income generation while aligning with the objectives of investors seeking tax-efficient municipal bond exposure.
SHM Tracking, a component of the State Street Global Advisors-advised funds, is dedicated to accurately mirroring the performance of the Bloomberg Managed Money Municipal Short Term Index. Managed by Nuveen Asset Management, LLC, the fund adopts a meticulous sampling strategy to construct a portfolio that closely reflects the risk and return characteristics of the index. With a commitment to transparency and precision, SHM Tracking invests predominantly in securities comprising the index, typically allocating at least 80% of its total assets to this purpose. These securities primarily consist of U.S. dollar-denominated short-term tax-exempt municipal bonds, encompassing various types such as general obligation, revenue, pre-refunded, and insured bonds, subject to stringent eligibility criteria including high credit ratings and specific maturity parameters. Guided by Bloomberg Index Services Limited, the index's sponsor, SHM Tracking ensures adherence to composition and weighting guidelines to provide investors with reliable tracking of municipal bond market performance. As of July 31, 2023, the index encompassed 3,642 securities with an average maturity of 2.99 years, showcasing the fund's commitment to effectively tracking the municipal bond market's short-term movements.
SHM Correlation, part of the State Street Global Advisors-advised funds, focuses on maintaining a close correlation with the Bloomberg Managed Money Municipal Short Term Index. Managed by Nuveen Asset Management, LLC, the fund employs a meticulous sampling strategy to construct a portfolio that closely mirrors the risk and return characteristics of the index. With a primary objective of closely tracking index performance, SHM Correlation invests predominantly in securities comprising the index, typically allocating at least 80% of its total assets to this purpose. These securities primarily consist of U.S. dollar-denominated short-term tax-exempt municipal bonds, encompassing various types such as general obligation, revenue, pre-refunded, and insured bonds, subject to stringent eligibility criteria including high credit ratings and specific maturity parameters. Guided by Bloomberg Index Services Limited, the index's sponsor, SHM Correlation ensures adherence to composition and weighting guidelines to provide investors with a highly correlated investment option within the municipal bond market. As of July 31, 2023, the index included 3,642 securities with an average maturity of 2.99 years, highlighting the fund's commitment to maintaining strong correlation with market movements.
SHM Sector, a constituent of the State Street Global Advisors-advised funds, is dedicated to optimizing sector exposure within the Bloomberg Managed Money Municipal Short Term Index. Under the management of Nuveen Asset Management, LLC, the fund implements a strategic sampling approach to construct a portfolio that aligns with the sector composition of the index. With a primary goal of capturing sector-specific performance trends, SHM Sector primarily invests in securities representing various sectors within the municipal bond market, while typically allocating at least 80% of its total assets to index securities. These securities encompass a range of U.S. dollar-denominated short-term tax-exempt municipal bonds, including general obligation, revenue, pre-refunded, and insured bonds, subject to stringent eligibility criteria such as high credit ratings and specific maturity parameters. Guided by Bloomberg Index Services Limited, the index's sponsor, SHM Sector ensures adherence to sector weightings and guidelines, providing investors with exposure to sector-specific performance trends within the municipal bond market. As of July 31, 2023, the index comprised 3,642 securities with an average maturity of 2.99 years, showcasing the fund's commitment to sector-focused investment strategies.
SHM Exposure, a pivotal component of the State Street Global Advisors-advised funds, is meticulously crafted to provide investors with targeted exposure to specific segments of the municipal bond market tracked by the Bloomberg Managed Money Municipal Short Term Index. Under the astute management of Nuveen Asset Management, LLC, the fund strategically employs a sampling strategy to construct a portfolio that precisely reflects the risk and return characteristics of the chosen market segments. With a primary objective of optimizing exposure, SHM Exposure predominantly invests in securities representing various segments within the municipal bond market, typically allocating at least 80% of its total assets to index securities. These securities encompass a diverse array of U.S. dollar-denominated short-term tax-exempt municipal bonds, including general obligation, revenue, pre-refunded, and insured bonds, subject to stringent eligibility criteria such as high credit ratings and specific maturity parameters. Guided by Bloomberg Index Services Limited, the index's sponsor, SHM Exposure ensures meticulous adherence to segment weightings and guidelines, thereby offering investors a tailored avenue for targeted exposure within the municipal bond market landscape. As of July 31, 2023, the index comprised 3,642 securities with an average maturity of 2.99 years, showcasing the fund's commitment to providing investors with precise exposure to their chosen segments.
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