state street global advisors index funds sicav

466 Pages·2016·9.77 MB·English

STATE STREET GLOBAL ADVISORS INDEX
FUNDS SICAV
Financial year ended 31 December 2015
Statutory auditor’s report on the annual financial statements
ERNST & YOUNG Audit
EY Ernst & Young Audit Tel.: [phone]
Tour First www.ey.com/fr
TSA 14444
92037 Paris La Défense Cedex,

STATE STREET GLOBAL ADVISORS INDEX FUNDS SICAV
Financial year ended 31 December 2015
Statutory auditor’s report on the annual financial statements
Dear Shareholders,
In performance of the audit engagement entrusted to us by the Board of Directors, we hereby present our report on the financial year
ended 31 December 2015, on:
• The audit of the annual financial statements of the STATE STREET GLOBAL ADVISORS INDEX FUNDS SICAV, as attached to this
report;
• The justification of our assessments;
• The specific verifications and information required by law.
The annual financial statements were prepared by the Board of Directors. Our responsibility is to express an opinion on these
statements based on our audit.
I. Opinion on the annual financial statements
We conducted our audit in accordance with generally accepted auditing standards in France; those standards require that we plan
and perform the audit to obtain reasonable assurance that the annual financial statements are free of material misstatement. An
audit includes examining, on a test basis or using other selection methods, evidence supporting the amounts and disclosures in the
annual financial statements. An audit also includes assessing the accounting principles used and the significant estimates made in
preparing the annual financial statements, as well as evaluating their overall presentation. We believe that the evidence we obtained
is sufficient and appropriate to provide a basis for our opinion.
We certify that the annual financial statements are, in conformity with French accounting rules and principles, accurate and
consistent and give a true and fair view of the financial performance for the previous financial year as well as the financial position
and assets of the company at the end of this financial year.
STATE STREET GLOBAL ADVISORS INDEX FUNDS SICAV 2
Financial year ended 31 December 2015
(illegible)
Nanterre Registered Group of Companies 344 366 315
Statutory Auditor’s firm
Accounting firm registered with the Paris – Ile-de-France Tableau de
l’Ordre
Member of the Ernst & Young Global Limited network
Registered office: 1-2 place des Saisons – 92400 Courbevoie – Paris La Défense 1, France
EY
II. Justification of assessments
Pursuant to the provisions of Article L. 823-9 of the French Commercial Code, the assessments we performed covered the
appropriateness of the accounting principles applied, as well as the reasonableness of the significant estimates made.
The assessments were made as part of our audit of the annual financial statements, taken as a whole, and therefore contributed to
the opinion we formed, as expressed in the first part of this report.
III. Specific verifications and information
In accordance with the professional practice standards applicable in France, we also conducted the specific verifications required by
law.
We have no observations to make regarding the fair presentation and consistency with the annual financial statements of the
information provided in the annual report and in the documents provided to unitholders concerning the financial position and the
annual financial statements.
Paris La Défense, 29 March 2016
The Statutory Auditors
ERNST & YOUNG Audit

David Koestner
STATE STREET GLOBAL ADVISORS INDEX FUNDS SICAV 3
Financial year ended 31 December 2015
State Street Global Advisors Index Funds [ SIC AV]
2015 Annual Report

Compliant with European standards
French open-ended investment company (SICAV)
RCS Nanterre: 432.354.496

Registered office:
Défense Plaza, 23-25 rue Delarivière-Lefoullon, 92064 Paris La Défense Cedex, France.

I. GENERAL INFORMATION ABOUT THE SICAV

Custodian:
State Street Banque S.A.
Défense Plaza, 23-25 rue Delarivière-Lefoullon, 92064 Paris La Défense Cedex, France.

Management company:
State Street Global Advisors France
Défense Plaza, 23-25, rue Delarivière-Lefoullon, 92064 Paris La Défense Cedex.

Assignees:
Accounting management: State Street Banque S.A.
Défense Plaza, 23-25, rue Delarivière-Lefoullon, 92064 Paris La Défense Cedex.

Promotion Agent:
State Street Global Advisors France
Défense Plaza, 23-25, rue Delarivière-Lefoullon, 92064 Paris La Défense Cedex.

Statutory auditors:
Ernst & Young Audit
Represented by David Koestner
Tour Ernst & Young, Faubourg de l’Arche
92037 Paris-La Défense

Members of the Board of Directors:

Chairman & Chief Executive Officer: Scott Ebner

Directors:

Caroline O’Connor

State Street Global Advisors France,
represented by Jean-François Delale.

Board members receive no remuneration for their services.

List of the offices and positions held by the corporate officers of the SICAV in any French company
during the year ended:

Scott Ebner - Chairman and Chief Executive Officer of SICAV State Street Global Advisors Index
Funds

Caroline O’Connor - Director of SICAV State Street Global Advisors Index Funds
State Street Global - Director of SICAV State Street Global Advisors Index Funds
Advisors France

The annual report, as certified by the Statutory Auditor, will be available within eight weeks at the most from the financial year end (Article
L.214-17 of the French Monetary and Financial Code). SICAV shareholders and the general public may obtain a detailed inventory of its
assets from the administrative head office of State Street Global Advisors France located at: Défense Plaza, 23-25 rue Delarivière-Lefoullon,
92064 Paris La Défense Cedex, France.
State Street Global Advisors Index Funds [ SIC AV]
2015 Annual Report

Material agreements:

The SICAV and State Street Banque S.A., the SICAV’s custodian, signed a custodian agreement on 3 February
2006, which took effect as of 1 January 2006.
The SICAV and the asset management company signed a power of attorney agreement on 3 February 2006,
which took effect as of 1 January 2006.
On 28 November 2007, the SICAV and the financial management company signed an accounting services
agreement, effective 28 November 2007.

Summary of the management product range:

The State Street Global Advisors Index Funds SICAV is a SICAV with sub-funds. The objective of each of the
sub-funds is to replicate the performance of an equity or bond market index.
The SICAV’s objective is therefore to offer a range of sub-funds so that investors can implement asset allocation
strategies and/or sector-based strategies. The Fund comprises 13 sub-funds.

Equities sector sub-funds:

Distribution Currency of Minimum Minimum
Sub-funds Shares ISIN code of income denomination Subscribers original subsequent
concerned subscription subscription
amount amount
subscription

P USD FR0000018582 Accumulation USD All investors One unit None
per unit
USD USD
I USD FR0010587972 USD Institutional equivalent of equivalent to
Accumulation EUR 300.000 EUR 50
SSgA Consumer per unit
Discretionary Index
Equity Fund I EUR FR0011129527 Accumulation EUR Institutional EUR 300.000 EUR 50
per unit

Reserved for
the sales
I NL FR0011675230 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
investors in
the
Netherlands

Reserved for
Institutional
Investors USD USD
B FR0011342377 Accumulation USD who have equivalent of equivalent to
per unit entered into EUR 300.000 EUR 50
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P USD FR0000018491 Accumulation USD All investors One unit None
per unit
USD USD
I USD FR0010587980 USD Institutional equivalent of equivalent to
Accumulation EUR 300.000 EUR 50
The annual report, as certified by the Statutory Auditor, will be available within eight weeks at the most from the financial year end (Article
L.214-17 of the French Monetary and Financial Code). SICAV shareholders and the general public may obtain a detailed inventory of its
assets from the administrative head office of State Street Global Advisors France located at: Défense Plaza, 23-25 rue Delarivière-Lefoullon,
92064 Paris La Défense Cedex, France.
State Street Global Advisors Index Funds [ SIC AV]
2015 Annual Report

Distribution Currency of Minimum Minimum
Sub-funds Shares ISIN code of income denomination Subscribers original subsequent
concerned subscription subscription
amount amount
subscription
SSgA Consumer per unit
Staples Index
Equity Fund I EUR FR0011129535 Accumulation EUR Institutional EUR 300.000 EUR 50
per unit

Reserved for
the sales
I NL FR0011675263 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
investors in
the
Netherlands

Reserved for
Institutional
Investors USD USD
B FR0011342385 Accumulation USD who have equivalent of equivalent to
per unit entered into EUR 300.000 EUR 50
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P USD FR0000018475 Accumulation USD All investors One unit None
per unit
USD USD
I USD FR0010588020 USD Institutional equivalent of equivalent to
Accumulation EUR 300.000 EUR 50
per unit
SSgA Energy Index
Equity Fund I EUR FR0011129543 Accumulation EUR Institutional EUR 300.000 EUR 50
per unit

Reserved for
the sales
I NL FR0011675271 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
investors in
the
Netherlands

Reserved for
Institutional
Investors USD USD
B FR0011342443 Accumulation USD who have equivalent of equivalent to
per unit entered into EUR 300.000 EUR 50
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
The annual report, as certified by the Statutory Auditor, will be available within eight weeks at the most from the financial year end (Article
L.214-17 of the French Monetary and Financial Code). SICAV shareholders and the general public may obtain a detailed inventory of its
assets from the administrative head office of State Street Global Advisors France located at: Défense Plaza, 23-25 rue Delarivière-Lefoullon,
92064 Paris La Défense Cedex, France.
State Street Global Advisors Index Funds [ SIC AV]
2015 Annual Report

Distribution Currency of Minimum Minimum
Sub-funds Shares ISIN code of income denomination Subscribers original subsequent
concerned subscription subscription
amount amount
subscription
subsidiaries.

P FR0000018590 Accumulation EUR All investors One unit None
per unit

SSgA EMU Index I FR0010213108 Accumulation EUR Institutional EUR 300.000 EUR 50
Real Estate Fund per unit
Reserved for
Institutional
Investors
B FR0011342435 Accumulation EUR who have EUR 300.000 EUR 50
per unit entered into
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P FR0010585364 Accumulation Euro All investors One unit None
per unit

SSgA Europe ex I FR0010596692 Accumulation Euro Institutional EUR 300.000 One unit
UK Index Real per unit
Estate Fund Reserved for
Institutional
Investors
B FR0011342484 Accumulation EUR who have EUR 300.000 EUR 50
per unit entered into
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P FR0010585372 Accumulation Euro All investors One unit None
per unit

SSgA Europe Index I FR0010596700 Accumulation Euro Institutional EUR 300.000 EUR 50
Real Estate Fund per unit
Reserved for
Institutional
Investors
B FR0011342542 Accumulation EUR who have EUR 300.000 EUR 50
per unit entered into
a
management
agreement,
or an
agreement
that is
viewed as
The annual report, as certified by the Statutory Auditor, will be available within eight weeks at the most from the financial year end (Article
L.214-17 of the French Monetary and Financial Code). SICAV shareholders and the general public may obtain a detailed inventory of its
assets from the administrative head office of State Street Global Advisors France located at: Défense Plaza, 23-25 rue Delarivière-Lefoullon,
92064 Paris La Défense Cedex, France.
State Street Global Advisors Index Funds [ SIC AV]
2015 Annual Report

Distribution Currency of Minimum Minimum
Sub-funds Shares ISIN code of income denomination Subscribers original subsequent
concerned subscription subscription
amount amount
subscription
equivalent,
with the
management
company or
one of its
subsidiaries.

P USD FR0000018228 Accumulation USD All investors One unit None
per unit
USD USD
I USD FR0010588061 Accumulation USD Institutional equivalent of equivalent to
per unit EUR 300.000 EUR 50
SSgA Financials
Index Equity Fund I EUR FR0011129550 Accumulation EUR Institutional EUR 300.000 EUR 50
per unit

Reserved for
the sales
I NL FR0011675297 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
investors in
the
Netherlands

Reserved for
Institutional
Investors USD USD
B FR0011342559 Accumulation USD who have equivalent of equivalent to
per unit entered into EUR 300.000 EUR 50
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P USD FR0000018673 Accumulation USD All investors One unit None
per unit
USD USD
I USD FR0010588087 USD Institutional equivalent of equivalent to
SSgA Health Care Accumulation EUR 300.000 EUR 50
Index Equity Fund per unit

I EUR FR0011129568 Accumulation EUR Institutional EUR 300.000 EUR 50
per unit

Reserved for
the sales
I NL FR0011675305 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
investors in
the
Netherlands

Reserved for
Institutional
Investors USD USD
B FR0011342666 Accumulation USD who have equivalent of equivalent to
per unit entered into EUR 300.000 EUR 50
a
The annual report, as certified by the Statutory Auditor, will be available within eight weeks at the most from the financial year end (Article
L.214-17 of the French Monetary and Financial Code). SICAV shareholders and the general public may obtain a detailed inventory of its
assets from the administrative head office of State Street Global Advisors France located at: Défense Plaza, 23-25 rue Delarivière-Lefoullon,
92064 Paris La Défense Cedex, France.
State Street Global Advisors Index Funds [ SIC AV]
2015 Annual Report

Distribution Currency of Minimum Minimum
Sub-funds Shares ISIN code of income denomination Subscribers original subsequent
concerned subscription subscription
amount amount
subscription
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P USD FR0000018459 Accumulation USD All investors One unit None
per unit
USD USD
I USD FR0010588095 Accumulation USD Institutional equivalent of equivalent to
per unit EUR 300.000 EUR 50
SSgA Industrials
Index Equity Fund I EUR FR0011129576 Accumulation EUR Institutional EUR 300.000 EUR 50
per unit

Reserved for
the sales
I NL FR0011675321 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
investors in
the
Netherlands

Reserved for
Institutional
Investors USD USD
B FR0011342682 Accumulation USD who have equivalent of equivalent to
per unit entered into EUR 300.000 EUR 50
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P USD FR0000018442 Accumulation USD All investors One unit None
per unit
USD USD
I USD FR0010588103 Accumulation USD Institutional equivalent of equivalent to
per unit EUR 300.000 EUR 50
SSgA Materials
Index Equity Fund I EUR FR0011129584 Accumulation EUR Institutional EUR 300.000 EUR 50
per unit

Reserved for
the sales
I NL FR0011675347 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
investors in
the
Netherlands

Reserved for
The annual report, as certified by the Statutory Auditor, will be available within eight weeks at the most from the financial year end (Article
L.214-17 of the French Monetary and Financial Code). SICAV shareholders and the general public may obtain a detailed inventory of its
assets from the administrative head office of State Street Global Advisors France located at: Défense Plaza, 23-25 rue Delarivière-Lefoullon,
92064 Paris La Défense Cedex, France.
State Street Global Advisors Index Funds [ SIC AV]
2015 Annual Report

Distribution Currency of Minimum Minimum
Sub-funds Shares ISIN code of income denomination Subscribers original subsequent
concerned subscription subscription
amount amount
subscription
Institutional
Investors USD USD
B FR0011342724 Accumulation USD who have equivalent of equivalent to
per unit entered into EUR 300.000 EUR 50
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P USD FR0000018624 Accumulation USD All investors One unit None
per unit
USD USD
I USD FR0010588137 Accumulation USD Institutional equivalent of equivalent to
per unit EUR 300.000 EUR 50

SSgA Technology I EUR FR0011129592 Accumulation EUR Institutional EUR 300.000 EUR 50
Index Equity Fund per unit

Reserved for
the sales
I NL FR0011675370 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
investors in
the
Netherlands

Reserved for
Institutional
Investors USD USD
B FR0011342583 Accumulation USD who have equivalent of equivalent to
per unit entered into EUR 300.000 EUR 50
a
management
agreement,
or an
agreement
that is
viewed as
equivalent,
with the
management
company or
one of its
subsidiaries.

P USD FR0000018616 Accumulation USD All investors One unit None
per unit
USD USD
SSgA I USD FR0010588145 Accumulation USD Institutional equivalent of equivalent to
Telecommunication per unit EUR 300.000 EUR 50
Index Equity Fund
I EUR FR0011129600 Accumulation EUR Institutional EUR 300.000 EUR 50
per unit

Reserved for
the sales
I NL FR0011675388 Accumulation EUR network for EUR 300.000 EUR 50
EUR per unit institutional
The annual report, as certified by the Statutory Auditor, will be available within eight weeks at the most from the financial year end (Article
L.214-17 of the French Monetary and Financial Code). SICAV shareholders and the general public may obtain a detailed inventory of its
assets from the administrative head office of State Street Global Advisors France located at: Défense Plaza, 23-25 rue Delarivière-Lefoullon,
92064 Paris La Défense Cedex, France.