open/document-extraction
View Schema
This view of the annotation often reflects the precision of the extraction model or annotator, as well as the complexity of the document.
State Street AUT 1-10 Year U.S.
TIPS Index Fund
Interim Report and Unaudited Financial Statements
For the period ended 30th June 2026
Page 2
Contents Page
Manager's Report* 1
Portfolio Statement* 3
Directors' Report to Unitholders* 5
Comparative Table* 6
Financial statements: 7
Statement of Total Return 7
Statement of Change in Net Assets Attributable to Unitholders 7
Balance Sheet 8
Notes to the Financial Statements 9
Directory* 14
* These collectively comprise the Manager’s Report.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Page 3
Authorised Status The State Street AUT 1-10 Year U.S. TIPS Index Fund (the “Fund”) is an Authorised Unit Trust Scheme as defined in section 243 of the Financial Services and Markets Act 2000 and it is a UCITS Retail Scheme within the meaning of the FCA Collective Investment Schemes sourcebook. The unitholders are not liable for the debts of the Fund.
Investment Objective and Policy
The objective of the Fund is to replicate, as closely as possible, and on a “gross of fees” basis, the return of the global government bond market with a maturity between 1 and 10 years hedged back to Pound sterling as represented by the Bloomberg US TIPS 1-10Y GBP Hedged Index (“the Index”), net of withholding taxes (or its recognised replacement or equivalent). The Index measures the performance of the inflation protected public obligations of the U.S. Treasury commonly known as “TIPS” whose maturities range between 1-10 years with currency exchange rate exposures hedged to Pound Sterling and consists of TIPS. Securities within the Index must be fixed rate and rated investment grade as defined by the Index methodology.
The Fund is passively managed, meaning that the objective of the Fund is to achieve an investment return that is as close as possible, and on a “gross of fees” basis, to the return of the Index. The Investment Adviser seeks to achieve the objective by applying a stratified sampling strategy. This strategy seeks to build a representative portfolio that matches the risk and return characteristics of the Index in the most efficient way, including, but not limited to, risks related to currencies, countries, sectors, quality, maturity duration and issuers. Stratified sampling is used because the Index contains too many securities to efficiently purchase and, at times, certain securities included in the Index may be difficult, or too costly, to purchase in the open markets. Consequently, the Fund will typically hold only a subset of the securities included in the Index.
The Investment Adviser also may, in exceptional circumstances, invest in securities not included in the Index but that it believes closely reflect the risk and distribution characteristics of securities of the Index. From time to time securities are added to or removed from the Index. The InvestmentAdviser may sell securities that are represented in the Index, or purchase securities that are not yet represented in the Index, in anticipation of their removal from or addition to the Index. Where such securities remain non-Index constituents, they will be sold or transferred as soon as reasonably practicable.
The Fund may also invest in transferable securities, money market instruments, warrants, units in collective investment schemes, deposits and derivatives.
The Fund may invest in collective investment schemes managed or operated by companies in the same group as the Manager or the Investment Adviser. The Fund will seek to track the performance of the Index whilst seeking to minimise as far as possible the tracking error between the Fund’s performance and that of the Index.
Performance The Fund returned 1.85% (1.84% net of fees) since launch date for the Reporting Period ended 30 June 2026, compared with the Bloomberg U.S. Treasury Inflation Notes: 1-10 Year Index return of 1.85%. The tracking difference of the Fund primarily reflects timing and pricing methodology differences up until 31 May 2026. From 1 June 2026, the Index pricing moved to 12:00pm, bringing the benchmark valuations more closely in line.
Note: Performance returns presented above are in GBP.
Risk and Reward Profile Lower risk
Potentially lower reward
Higher risk
Potentially higher reward
12 4 67 3 5 3 5
Risk Disclaimer The risk category above is not a measure of capital loss or gains but of how significant the rises and falls in the Fund’s return have been historically.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Manager’s Report
For the first Reporting Period from 6th October 2025 (launch date) to 30th June 2026.
1
Page 4
For example a fund whose return has experienced significant rises and falls will be in a higher risk category, whereas a fund whose return has experienced less significant rises and falls will be in a lower risk category.
The lowest category (i.e. category 1) does not mean that a fund is a risk free investment.
As the Fund’s risk category has been calculated using historical data, it may not be a reliable indication of the Fund’s future risk profile.
The Fund’s risk category shown is not guaranteed and may change in the future.
Why is this Fund in this category? The Fund is in risk category 3 as its return has experienced medium rises and falls historically.
The following are material risks relevant to the Fund which are not adequately captured by the risk category.
Concentration Risk: When the Fund focuses its investments in a particular way, the issues affecting the investments will have a greater effect than if the Fund was more diversified. This concentration may also limit the Fund's liquidity.
Screening Risk: The Fund may track an index that uses a screen to identify securities based on criteria including, but, not limited to environmental, social and governance (ESG) criteria. The screen may be fully or partially designed by the Manager or by a third party provider. There is a risk that errors are made in the screening process. There is an additional risk that a screen provider may amend or discontinue its screening services and/or that the Manager may change the screen or screen provider. In such circumstances, there is no guarantee that a replacement screen provided would result in a similar screening process or would be available.
Currency Hedging Risk: There can be no assurance that the Fund's hedging transactions will be effective. By seeking to reduce or eliminate losses caused by exchange rate fluctuations, hedging may also reduce or eliminate gains.
Duration / Interest Rate Risk: The values of bonds and other debt instruments usually rise and fall in response to changes in interest rates. Rising interest rates generally result in declines in the values of existing debt, while falling interest rates generally result in bond values increasing. Investments with longer maturities and higher durations are more sensitive to interest rate changes, therefore a change in interest rates could have a substantial and immediate negative effect on the values of the Fund’s investments.
Index Tracking Risk: The Fund's performance may not exactly track the Index. This can result from market fluctuations, changes in the composition of the Index, transaction costs, the costs of making changes to the Fund's portfolio and other Fund expenses. Please refer to the Prospectus for full details about the risks associated with this Fund.
Derivatives Usage
Derivatives are used in the Fund for efficient portfolio management purposes. The Fund invests in index futures to manage client inflows and outflows and to hedge accrued income. At all times the futures exposure is covered entirely by cash or cash equivalents.
As at 30 June 2026, the Fund had no exposure to futures contracts.
Tracking Error The Tracking Error measures the standard deviation of the relative returns. It is the annualised standard deviation of the returns of a fund minus those of its benchmark (relative returns) and not the standard deviation of each fund’s unique returns. The lower the tracking error of a fund, the more the fund resembles its benchmark or the market regarding risk and return characteristics.
As the Fund has been in operation for less than one year as at 30 June 2026, a tracking error for the one-year period is not available.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Manager's Report (continued)
For the first Reporting Period from 6th October 2025 (launch date) to 30th June 2026.
2
Page 5
Nominal
Market Value £'000
% of Total Net Assets
Government Bonds — 101.26%
United States — 101.26% U.S. Treasury Inflation-Indexed Bonds 1.750% 15/01/2028 USD 55,730,000 66,516 1.73 U.S. Treasury Inflation-Indexed Bonds 2.500% 15/01/2029 USD 53,550,000 63,612 1.65 U.S. Treasury Inflation-Indexed Bonds 3.625% 15/04/2028 USD 770,000 1,229 0.03 U.S. Treasury Inflation-Indexed Notes 0.125% 15/01/2030 USD 111,075,000 102,148 2.65 U.S. Treasury Inflation-Indexed Notes 0.125% 15/07/2030 USD 155,020,000 142,377 3.70 U.S. Treasury Inflation-Indexed Notes 0.125% 15/01/2031 USD 129,665,000 115,968 3.01 U.S. Treasury Inflation-Indexed Notes 0.125% 15/07/2031 USD 140,635,000 121,462 3.15 U.S. Treasury Inflation-Indexed Notes 0.125% 15/01/2032 USD 154,200,000 127,042 3.30 U.S. Treasury Inflation-Indexed Notes 0.250% 15/07/2029 USD 128,950,000 121,119 3.15 U.S. Treasury Inflation-Indexed Notes 0.375% 15/07/2027 USD 124,580,000 126,073 3.27 U.S. Treasury Inflation-Indexed Notes 0.500% 15/01/2028 USD 138,350,000 137,591 3.57 U.S. Treasury Inflation-Indexed Notes 0.625% 15/07/2032 USD 206,795,000 166,476 4.32 U.S. Treasury Inflation-Indexed Notes 0.750% 15/07/2028 USD 123,995,000 121,635 3.16 U.S. Treasury Inflation-Indexed Notes 0.875% 15/01/2029 USD 84,100,000 81,603 2.12 U.S. Treasury Inflation-Indexed Notes 1.125% 15/10/2030 USD 206,225,000 156,030 4.05 U.S. Treasury Inflation-Indexed Notes 1.125% 15/01/2033 USD 195,600,000 156,845 4.07 U.S. Treasury Inflation-Indexed Notes 1.250% 15/04/2028 USD 175,325,000 144,804 3.76 U.S. Treasury Inflation-Indexed Notes 1.250% 15/04/2031 USD 139,950,000 104,874 2.72 U.S. Treasury Inflation-Indexed Notes 1.375% 15/07/2033 USD 209,825,000 167,437 4.35 U.S. Treasury Inflation-Indexed Notes 1.625% 15/10/2027 USD 152,910,000 129,312 3.36 U.S. Treasury Inflation-Indexed Notes 1.625% 15/10/2029 USD 204,350,000 162,484 4.22 U.S. Treasury Inflation-Indexed Notes 1.625% 15/04/2030 USD 212,605,000 166,262 4.32 U.S. Treasury Inflation-Indexed Notes 1.750% 15/01/2034 USD 221,310,000 177,764 4.62 U.S. Treasury Inflation-Indexed Notes 1.875% 15/07/2034 USD 236,000,000 187,362 4.87 U.S. Treasury Inflation-Indexed Notes 1.875% 15/07/2035 USD 220,900,000 170,223 4.42 U.S. Treasury Inflation-Indexed Notes 1.875% 15/01/2036 USD 220,900,000 167,119 4.34 U.S. Treasury Inflation-Indexed Notes 2.125% 15/04/2029 USD 193,450,000 157,978 4.10 U.S. Treasury Inflation-Indexed Notes 2.125% 15/01/2035 USD 247,805,000 198,181 5.15 U.S. Treasury Inflation-Indexed Notes 2.375% 15/10/2028 USD 190,190,000 158,055 4.10
3,899,581 101.26
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Portfolio Statement
As at 30th June 2026
3
Page 6
Market Value £'000
% of Total Net Assets
Derivatives — (1.16)%
Forward Currency Contracts — (1.16)% Bought USD 35,308,000 for GBP 26,195,929 Settlement 02/07/2026 481 0.01 Bought USD 1,716,657,000 for GBP 1,299,906,861 Settlement 02/07/2026 (2,897) (0.07) Bought USD 1,716,657,000 for GBP 1,299,906,861 Settlement 02/07/2026 (2,897) (0.08) Bought USD 1,716,657,000 for GBP 1,300,499,895 Settlement 02/07/2026 (3,490) (0.09) Sold USD 1,716,657,000 for GBP 1,300,539,305 Settlement 04/08/2026 3,499 0.09 Sold USD 1,716,657,000 for GBP 1,299,948,204 Settlement 04/08/2026 2,908 0.08 Sold USD 1,716,657,000 for GBP 1,299,945,251 Settlement 04/08/2026 2,905 0.08 Sold USD 9,323,000 for GBP 7,063,162 Settlement 04/08/2026 19 0.00 Sold USD 47,312,000 for GBP 35,677,572 Settlement 02/07/2026 (69) 0.00 Sold USD 43,751,000 for GBP 32,600,576 Settlement 02/07/2026 (455) (0.01) Sold USD 59,030,000 for GBP 43,967,610 Settlement 02/07/2026 (632) (0.02) Sold USD 1,695,750,666 for GBP 1,267,115,769 Settlement 02/07/2026 (14,099) (0.37) Sold USD 1,666,945,668 for GBP 1,244,546,520 Settlement 02/07/2026 (14,904) (0.39) Sold USD 1,672,489,666 for GBP 1,248,711,579 Settlement 02/07/2026 (14,928) (0.39)
(44,559) (1.16)
Portfolio of investments^ 3,855,022 100.10 Net other liabilities (3,899) (0.10)
Total net assets 3,851,123 100.00
^ Includes investment liabilities.
Fund was launched on 6th October 2025 therefore there are no comparatives.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Portfolio Statement (continued)
As at 30th June 2026
4
Page 7
@_ RTT`cUR_TV hZeY eYV cVbfZcV^V_ed `W eYV :`]]VTeZgV @_gVde^V_e JTYV^Vd d`fcTVS``\ `W eYV =Z_R_TZR] :`_UfTe 8feY`cZejpd YR_US``\ `W cf]Vd R_U XfZUR_TV hV YVcVSj TVceZWj eYV cVa`ce `_ SVYR]W `W eYV ;ZcVTe`cd `W JeReV JecVVe L_Ze Kcfde DR_RXV^V_e CZ^ZeVU*
I* 9cZUXVc l ;ZcVTe`c( JeReV JecVVe L_Ze Kcfde DR_RXV^V_e CZ^ZeVU
K* :`XY]R_ l ;ZcVTe`c( JeReV JecVVe L_Ze Kcfde DR_RXV^V_e CZ^ZeVU
., 8fXfde .,.2
JcPcT JcaTTc 8LK -)-, OTPa L*J* K@GJ @]STg =d]S
@_eVcZ^ IVa`ce R_U L_RfUZeVU =Z_R_TZR] JeReV^V_ed .,.2
;XaTRc^ab% IT_^ac c^ L]XcW^[STab
=`c eYV aVcZ`U V_UVU /,eY Af_V .,.2
1
Page 8
Comparative Table For the period ended 30th June 2026
2026 (to 30.06) Closing net asset value (£'000) 3,851,123 Closing number of units 378,069,469 Closing net asset value per unit (£) 10.1863 Change in net asset value per unit 0.00% Operating charges 0.01%
Fund was launched on 6th October 2025 therefore there are no comparatives.
General risk factors The value of funds and the revenue from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested. What you get back may depend on:
• Investment performance is not guaranteed. Past performance is no guarantee of future performance. There may also be variation in performance between funds with similar investment objectives.
• The effect of an initial charge. If you sell your investment after a short period you may not get back what you originally invested, even if the price of your investment has not fallen.
• The entire market of a particular asset class or geographical region may fall, having a greater effect on funds heavily invested in that asset class or region.
• If you make regular withdrawals from your investment be aware that if the level of withdrawal exceeds the rate of investment growth of the fund, your capital will be eroded.
• Governments may change the tax rules which affect you or the funds in which you have invested.
• Inflation will reduce what you could buy in the future, i.e. it will reduce the real value of your investment.
• There is no certainty that the investment objective of any fund will actually be achieved.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
6
Page 9
Statement of Total Return For the period ended 30th June 2026
Period ended 30.06.26 £'000 £'000 Income Net capital losses (13,398) Revenue 19,682 Expenses (71)
Net revenue before taxation 19,611
Net revenue after taxation 19,611
Total return before distributions 6,213 Distributions 20,853
Change in net assets attributable to unitholders from investment activities 27,066
Statement of Change in Net Assets Attributable to Unitholders For the period ended 30th June 2026
Period ended 30.06.26 £’000 £’000 Opening net assets Issue of units 3,823,850 Cancellation of units -
3,823,850 Dilution adjustment 207 Change in unitholders' funds from investment activities 27,066
Closing net assets 3,851,123
Fund was launched on 6th October 2025 therefore there are no comparatives.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
7
Page 10
Balance Sheet As at 30th June 2026
30.06.26 £'000 Assets Investments 3,909,393 Amounts receivable 18,338 Cash and Cash equivalents 1,954
Total assets 3,929,685
Liabilities Investments 54,371 Other amounts payable 24,191
Total liabilities 78,562
Net assets attributable to unitholders 3,851,123
All items within the Balance Sheet are deemed current.
Notes to the Financial Statements are on pages 9 to13.
Fund was launched on 6th October 2025 therefore there are no comparatives.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
8
Page 11
1. Accounting policies The Fund was launched on 6th October 2025. As this is the Fund's first accounting period, there are no comparative figures presented in these financial statements.
(a) Basis of accounting The financial statements have been prepared under the historical cost convention by the revaluation of the investments, and in accordance with the United Kingdom Generally Accepted Accounting Practice ("UK GAAP") which comprises the UK Financial Reporting Standard 104 ("FRS 104") and the Statement of Recommended Practice ("SORP") for Authorised Funds issued by the Investment Association ("IA") in October 2025 (the "IA SORP 2025").
At the reporting date, investments are measured using market prices from approved pricing sources. EMEA listed securities and Fixed Income securities use 12:00 GMT mid-market prices. American listed securities use Official Close/Last Trade prices Prior Day, while Asian Pacific listed securities use Official Close/Last Trade prices. This approach is applied consistently across the portfolio and uses the most appropriate pricing source available for each asset class and market.
(b) Going Concern The financial statements are prepared on the going concern basis.
The Authorised Corporate Director ("ACD") has undertaken a detailed assessment of each of the remaining Funds ability to meet its liabilities as they fall due, including liquidity, declines in global capital markets and investor redemption levels. Based on this assessment, the Funds continue to be open for trading and the ACD is satisfied the Funds have adequate financial resources to continue in operation for the foreseeable future, being at least 12 months from the date of approval, and accordingly it is appropriate to adopt the going concern basis in preparing the financial statements.
2. Related party transactions The Manager exercises governance and oversight over the Fund and is a related party by virtue of the Trust Deed constituting the Fund.
Amounts paid during the Reporting Period to the Manager were £71,720.
At the Reporting Period end £23,208 was due to the Manager in relation to accrued manager’s periodic charges.
Transactions relating to the creation and cancellation of units and the purchases and sales of investments which pass through the Manager, but are not for the benefit of, either related party are disclosed in the Statement of Change in Net Assets Attributable to Unitholders.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Notes to the Financial Statements
For the period ended 30th June 2026
9
Page 12
3. Securities Financing Transactions ("SFT")
1) Global Data
Proportion of securities and commodities on loan as at 30th June 2026 £'000 %
Total lendable assets excluding cash and cash equivalents: 3,603,332
Securities and commodities on loan 205,662 5.71%
Assets engaged in SFTs and total return swaps as at 30th June 2026 £'000 %
Fund assets under management ("AUM") 3,851,123
Absolute value of assets engaged in:
Securities lending 205,662 5.34%
2) Concentration Data
Top 10 Collateral Issuers Name and value of collateral and commodities received as at 30th June 2026 £'000
Microsoft 18,749
NVIDIA 16,474
HSBC 11,856
Standard Chartered 9,058
Banco Bilbao Vizcaya Argentaria 4,385
UniCredit 4,385
Caesars Entertainment 4,144
Prysmian 2,216
Danske Bank 1,864
Obayashi 1,441
Top 10 Counterparties Name and value of outstanding transactions as at 30th June 2026 £'000
RBC Europe 153,856
Barclays Capital Securities 25,952
NBC Global Finance 16,583
HSBC Bank 9,271
The table includes a full list of counterparties.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Notes to the Financial Statements (continued)
For the period ended 30th June 2026
10
Page 13
3. Securities Financing Transactions ("SFT") (continued)
3) Aggregate Transaction Data
Type, Quality and Currency of Collateral as at 30th June 2026
Type Quality Currency £'000
Securities lending
Equity Traded on recognised exchange Sterling 27,543
Equity Traded on recognised exchange Australian Dollar 1,537
Equity Traded on recognised exchange Canadian Dollar 308
Equity Traded on recognised exchange Danish Krone 1,963
Equity Traded on recognised exchange Euro 29,507
Equity Traded on recognised exchange Hong Kong Dollar 6,077
Equity Traded on recognised exchange Japanese Yen 18,013
Equity Traded on recognised exchange Norwegian Krone 1,170
Equity Traded on recognised exchange Swedish Krona 838
Equity Traded on recognised exchange Swiss Franc 1,658
Equity Traded on recognised exchange US Dollar 137,622
Total Collateral held 226,236
Maturity Tenor of Collateral (remaining period to maturity) as at 30th June 2026
Less than one day
One day to one week
One week to one month
One to three months
Three months to one year
Above one year
Open maturity Total
Type £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Securities lending - - - - -- 226,236 226,236
Counterparty details as at 30th June 2026
Type
Country of counterparty establishment Settlement and clearing £'000
Securities lending Ireland Tri-party 18,241
Securities lending United Kingdom Bi-lateral 207,995
Total collateral held 226,236
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Notes to the Financial Statements (continued)
For the period ended 30th June 2026
11
Page 14
3. Securities Financing Transactions ("SFT") (continued)
Maturity Tenor of SFTs and Total Return Swaps (remaining period to maturity) as at 30th June 2026
Less than one day
One day to one week
One week to one month
One to three months
Three months to one year
Above one year
Open maturity Total
Type £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Securities lending - - - - -- 205,662 205,662
4) Re-use of Collateral
The Fund does not engage in re-use of collateral.
5) Safekeeping of Collateral Received
Names and value of custodians safekeeping collateral as at 30th June 2026 £'000
Bank of New York 216,038
JP Morgan 10,198
6) Safekeeping of Collateral Granted
The Fund does not borrow stock from counterparties; therefore, no collateral has been granted.
4. Fair value For financial instruments held at fair value in the balance sheet, the Fund is required to disclose for each class of financial instrument, an analysis of the level in the fair value:
Level 1 – The unadjusted quoted price in an active market for identical assets or liabilities that the entity can access at the measurement date;
Level 2 – Inputs other than quoted prices included within Level 1 that are observable (i.e. developed using market data) for the asset or liability, either directly or indirectly;
Level 3 – Inputs are unobservable (i.e. for which market data is unavailable) for the asset or liability.
30.06.26 Level 1 £'000
30.06.26 Level 2 £'000
30.06.26 Level 3 £'000
30.06.26 Total £'000 Assets: Debt instruments 3,899,581 - - 3,899,581 Derivatives - 9,812 - 9,812 3,899,581 9,812 - 3,909,393 Liabilities: Derivatives - (54,371) - (54,371) - (54,371) - (54,371)
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Notes to the Financial Statements (continued)
For the period ended 30th June 2026
12
Page 15
5. Subsequent events since the financial year The anti-dilution mechanism shall change from dilution levy to dilution adjustment on 1 September 2026.There have been no other significant events affecting the Fund after the financial year ended 30 June 2026 that require amendment to or disclosure in the financial statements.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Notes to the Financial Statements (continued)
For the period ended 30th June 2026
13
Page 16
THE MANAGER State Street Unit Trust Management Limited 20 Churchill Place, Canary Wharf London E14 5HJ
Regulated by The Financial Conduct Authority.
DIRECTORS V. Parry* (resigned 2 January 2026) C. Fernandes (resigned 2 January 2026) N. Wightman* (resigned 2 January 2026) R. Bridger B. Healy* (appointed 2 January 2026) B. Lim Siong Kwong Lam Thuon Mine* (appointed 2 January 2026) E. Linnane (appointed 2 January 2026) T. Coghlan* (appointed 2 January 2026) * Independent non-executive Director
INVESTMENT MANAGER, REGISTRAR & TRANSFER AGENT State Street Global Advisors Limited 20 Churchill Place London E14 5HJ
Regulated by The Financial Conduct Authority.
INDEPENDENT AUDITORS PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors 120 Bothwell Street Glasgow G2 7JS
DEPOSITARY HSBC Bank plc 8 Canada Square Canary Wharf London E14 5HQ
HSBC Bank plc is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority.
CONSTITUTION State Street AUT 1-10 Year U.S. TIPS Index Fund is an authorised unit trust scheme within the meaning of, and governed by section 243 of the Financial Services and Markets Act 2000. The Fund is a ‘wider range’ investment scheme under the Trustee Investments Act 1961.
PROSPECTUS Copies of the Prospectus are available from the Manager upon request.
Please remember that the price of units and the income from them can go down as well as up. Past performance is not necessarily a guide to the future. Changes in exchange rates may also affect the value.
ASSESSMENT OF VALUE Assessment of Value ("AoV") was introduced by the FCA to ensure UK authorised fund managers (“AFMs”) demonstrate the delivery of value for underlying investors, objectively assessing ourselves against a range of criteria. Our annual assessment of value statement can be found in a composite report on www.ssga.com.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Directory
14
Page 17
TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES ("TCFD") The Manager’s entity and product disclosure reports have been published separately and can be found using the fund finder page on www.ssga.com.
State Street AUT 1-10 Year U.S. TIPS Index Fund
Interim Report and Unaudited Financial Statements 2026
Directory (continued)
15
Truncated: This annotation is too large to fit.
View the raw JSON.
{
"annotation_id": "74fcf088-1047-4d7e-83d4-33c57bd916c3",
"date_created": "2026-10-05T20:51:50.145000Z",
"date_modified": "2026-10-05T20:51:50.145000Z",
"file_hash": "927c014a1df3e08b142327e636ec1200f8c65537406c0ece26958f5007879535",
"private": false,
"record": {
"attributes": {
"chunk_type": "page_range",
"end_page": 17,
"start_page": 1
},
"blocks": [
{
"block_type": "box",
"box": {
"height": 27,
"width": 735,
"x": 67,
"y": 177
},
"id": "bff5963f-05e4-4662-a3c0-3ef78097d35a",
"page_number": 1,
"text": "State Street AUT 1-10 Year U.S."
},
{
"block_type": "box",
"box": {
"height": 27,
"width": 390,
"x": 66,
"y": 215
},
"id": "cb96e8a8-6862-4b8b-818c-b868491e7f1c",
"page_number": 1,
"text": "TIPS Index Fund"
},
{
"block_type": "box",
"box": {
"height": 22,
"width": 812,
"x": 67,
"y": 44
},
"id": "da507c40-1803-4fbe-a566-a7e9dde77de6",
"page_number": 1,
"text": "Interim Report and Unaudited Financial Statements"
},
{
"block_type": "box",
"box": {
"height": 13,
"width": 328,
"x": 67,
"y": 69
},
"id": "9b58b763-4908-4d9c-a4a2-19c6344e8702",
"page_number": 1,
"text": "For the period ended 30th June 2026"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 86,
"x": 52,
"y": 102
},
"id": "0a4f2f7d-c645-42c2-9fea-e9301ad1ae3b",
"page_number": 2,
"text": "Contents"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 36,
"x": 910,
"y": 117
},
"id": "28ea4b2c-9a35-4c72-b2ce-4a65981dba5c",
"page_number": 2,
"text": "Page"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 130,
"x": 53,
"y": 141
},
"id": "921d0cd3-94ac-414c-8238-23122312ab5d",
"page_number": 2,
"text": "Manager\u0027s Report*"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 4,
"x": 939,
"y": 141
},
"id": "1cbfbdd5-7876-4aa3-8ae5-8c01572597af",
"page_number": 2,
"text": "1"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 139,
"x": 53,
"y": 164
},
"id": "28e35892-76df-4386-835c-06c5bf012195",
"page_number": 2,
"text": "Portfolio Statement*"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 8,
"x": 938,
"y": 164
},
"id": "acc5c962-d4ae-48e8-8464-860789383fdc",
"page_number": 2,
"text": "3"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 226,
"x": 53,
"y": 188
},
"id": "b0b2d285-845f-4b66-a76f-3a185a670d2c",
"page_number": 2,
"text": "Directors\u0027 Report to Unitholders*"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 8,
"x": 938,
"y": 188
},
"id": "363f2189-084e-4d62-afb4-3bf03793bba2",
"page_number": 2,
"text": "5"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 138,
"x": 52,
"y": 212
},
"id": "4d45be87-9716-4139-8ee7-f4170754a4c4",
"page_number": 2,
"text": "Comparative Table*"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 8,
"x": 938,
"y": 212
},
"id": "23a400a0-0c96-4aad-b00c-5bcaf825cf76",
"page_number": 2,
"text": "6"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 147,
"x": 53,
"y": 236
},
"id": "65ca009d-2870-4d69-b80c-8f9b94f31b79",
"page_number": 2,
"text": "Financial statements:"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 8,
"x": 938,
"y": 236
},
"id": "58931a90-d420-454b-94f6-74fa78bdef2a",
"page_number": 2,
"text": "7"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 179,
"x": 92,
"y": 259
},
"id": "7cbd0b44-1f59-4c74-a554-130fba6d5c74",
"page_number": 2,
"text": "Statement of Total Return"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 8,
"x": 938,
"y": 259
},
"id": "515b6517-478b-48a2-881e-1870d808f3a9",
"page_number": 2,
"text": "7"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 854,
"x": 92,
"y": 283
},
"id": "6e2e8b68-7e6f-4e77-8206-c8bf8d08f053",
"page_number": 2,
"text": "Statement of Change in Net Assets Attributable to Unitholders 7"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 102,
"x": 93,
"y": 307
},
"id": "20f9ef9f-c903-43b4-a17f-cd3a26add5e5",
"page_number": 2,
"text": "Balance Sheet"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 8,
"x": 938,
"y": 307
},
"id": "5db147de-0b95-4c31-a002-6bced7a8e8c3",
"page_number": 2,
"text": "8"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 237,
"x": 93,
"y": 330
},
"id": "4b55e6c3-16d1-4e6c-ba0b-ec4b9f5a3e39",
"page_number": 2,
"text": "Notes to the Financial Statements"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 8,
"x": 938,
"y": 330
},
"id": "e86618a8-c15e-4f7e-a5a0-50f9e41f9936",
"page_number": 2,
"text": "9"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 68,
"x": 53,
"y": 354
},
"id": "5074af59-5e06-4856-948a-526c4e34b09b",
"page_number": 2,
"text": "Directory*"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 16,
"x": 930,
"y": 354
},
"id": "a5264ac3-adbf-4b9f-b16f-92ec4a9a904c",
"page_number": 2,
"text": "14"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 365,
"x": 47,
"y": 382
},
"id": "ca088cdc-4089-4ede-bdc0-f35a156b1614",
"page_number": 2,
"text": "* These collectively comprise the Manager\u2019s Report."
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 457,
"x": 47,
"y": 44
},
"id": "0233d196-565d-4cd7-b4c3-c2000799c8ed",
"page_number": 2,
"text": "State Street AUT 1-10 Year U.S. TIPS Index Fund"
},
{
"block_type": "box",
"box": {
"height": 13,
"width": 505,
"x": 48,
"y": 65
},
"id": "176ab0c4-5f46-4d31-9aaf-01c4570a53a6",
"page_number": 2,
"text": "Interim Report and Unaudited Financial Statements 2026"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 144,
"x": 46,
"y": 175
},
"id": "dbdb432c-a727-4730-9e89-d1d2457bca61",
"page_number": 3,
"text": "Authorised Status"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 194
},
"id": "53e7d0de-7d53-4af0-9b83-66ea1ef2a1cf",
"page_number": 3,
"text": "The State Street AUT 1-10 Year U.S. TIPS Index Fund (the \u201cFund\u201d) is an Authorised Unit Trust Scheme as defined in section"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 208
},
"id": "dcb20143-fe2c-4d47-ba98-6aa365899453",
"page_number": 3,
"text": "243 of the Financial Services and Markets Act 2000 and it is a UCITS Retail Scheme within the meaning of the FCA Collective"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 662,
"x": 48,
"y": 222
},
"id": "25430b28-71c9-4e95-8fbe-0bfe5a6147a6",
"page_number": 3,
"text": "Investment Schemes sourcebook. The unitholders are not liable for the debts of the Fund."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 255,
"x": 48,
"y": 243
},
"id": "e2423b4e-d162-4c14-9eab-1f412998e50f",
"page_number": 3,
"text": "Investment Objective and Policy"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 265
},
"id": "2f74010d-03bd-48aa-a37f-a0b2b4d99c70",
"page_number": 3,
"text": "The objective of the Fund is to replicate, as closely as possible, and on a \u201cgross of fees\u201d basis, the return of the global"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 279
},
"id": "fef8d898-5203-495d-acbe-584de84d594c",
"page_number": 3,
"text": "government bond market with a maturity between 1 and 10 years hedged back to Pound sterling as represented by the"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 48,
"y": 293
},
"id": "5c285691-706f-4a7f-99c1-1301809cb75b",
"page_number": 3,
"text": "Bloomberg US TIPS 1-10Y GBP Hedged Index (\u201cthe Index\u201d), net of withholding taxes (or its recognised replacement or"
},
{
"block_type": "box",
"box": {
"height": 12,
"width": 904,
"x": 47,
"y": 307
},
"id": "bd4e749c-e79b-4ad2-b844-4734514e6ea3",
"page_number": 3,
"text": "equivalent). The Index measures the performance of the inflation protected public obligations of the U.S. Treasury commonly"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 902,
"x": 48,
"y": 322
},
"id": "d99709c3-69cc-4ff0-9453-d010c42212a4",
"page_number": 3,
"text": "known as \u201cTIPS\u201d whose maturities range between 1-10 years with currency exchange rate exposures hedged to Pound"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 336
},
"id": "64ca55e0-2ecb-41fc-b610-a52f65795cf0",
"page_number": 3,
"text": "Sterling and consists of TIPS. Securities within the Index must be fixed rate and rated investment grade as defined by the"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 142,
"x": 48,
"y": 350
},
"id": "3abe85f7-48fc-4f71-8ac4-94c87c4f2ce0",
"page_number": 3,
"text": "Index methodology."
},
{
"block_type": "box",
"box": {
"height": 12,
"width": 904,
"x": 47,
"y": 371
},
"id": "fe9e661a-a455-4c1d-900b-b7f113ed12bc",
"page_number": 3,
"text": "The Fund is passively managed, meaning that the objective of the Fund is to achieve an investment return that is as close as"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 386
},
"id": "7c153f68-db0c-4254-9cc5-eec30406f34c",
"page_number": 3,
"text": "possible, and on a \u201cgross of fees\u201d basis, to the return of the Index. The Investment Adviser seeks to achieve the objective by"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 400
},
"id": "a5a34a44-8037-4cc0-990a-3293d735a9c6",
"page_number": 3,
"text": "applying a stratified sampling strategy. This strategy seeks to build a representative portfolio that matches the risk and return"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 414
},
"id": "267745b0-8222-4dca-b046-f92787c33431",
"page_number": 3,
"text": "characteristics of the Index in the most efficient way, including, but not limited to, risks related to currencies, countries, sectors,"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 428
},
"id": "35a70fdb-6237-49a3-8bb8-23a0c0afb2fb",
"page_number": 3,
"text": "quality, maturity duration and issuers. Stratified sampling is used because the Index contains too many securities to efficiently"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 902,
"x": 48,
"y": 443
},
"id": "4fe072d0-0690-4d5e-9532-5318539e6587",
"page_number": 3,
"text": "purchase and, at times, certain securities included in the Index may be difficult, or too costly, to purchase in the open markets."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 691,
"x": 47,
"y": 457
},
"id": "ecfaa28b-7346-404b-b8a5-47d3ffb6eda0",
"page_number": 3,
"text": "Consequently, the Fund will typically hold only a subset of the securities included in the Index."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 478
},
"id": "26a83f25-a635-4679-8417-fcd255db1c61",
"page_number": 3,
"text": "The Investment Adviser also may, in exceptional circumstances, invest in securities not included in the Index but that it"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 492
},
"id": "48e7c995-c497-453f-bf7e-d4a6927f9540",
"page_number": 3,
"text": "believes closely reflect the risk and distribution characteristics of securities of the Index. From time to time securities are"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 507
},
"id": "9e23d50c-d2cf-40e9-8a12-b324c3f725a4",
"page_number": 3,
"text": "added to or removed from the Index. The InvestmentAdviser may sell securities that are represented in the Index, or purchase"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 521
},
"id": "22164f3f-b72a-4287-b73f-032f6c6fac9b",
"page_number": 3,
"text": "securities that are not yet represented in the Index, in anticipation of their removal from or addition to the Index. Where such"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 793,
"x": 47,
"y": 535
},
"id": "42b6f65e-f37f-49da-8328-28346a5c445d",
"page_number": 3,
"text": "securities remain non-Index constituents, they will be sold or transferred as soon as reasonably practicable."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 556
},
"id": "8d693639-377c-4da8-9fd0-36a74108e7e2",
"page_number": 3,
"text": "The Fund may also invest in transferable securities, money market instruments, warrants, units in collective investment"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 259,
"x": 47,
"y": 571
},
"id": "31e28aa1-f03f-4474-b108-f71fda0b4859",
"page_number": 3,
"text": "schemes, deposits and derivatives."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 592
},
"id": "d9270433-bdcd-4981-b44b-5ed5f1f83404",
"page_number": 3,
"text": "The Fund may invest in collective investment schemes managed or operated by companies in the same group as the"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 606
},
"id": "48a9cf36-6f19-4241-96b2-8078f6755c3e",
"page_number": 3,
"text": "Manager or the Investment Adviser. The Fund will seek to track the performance of the Index whilst seeking to minimise as"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 649,
"x": 47,
"y": 620
},
"id": "d986af00-6256-45bb-99c9-428829c4f9a2",
"page_number": 3,
"text": "far as possible the tracking error between the Fund\u2019s performance and that of the Index."
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 100,
"x": 48,
"y": 649
},
"id": "ba0d4547-bd15-4d81-a251-78602eb41126",
"page_number": 3,
"text": "Performance"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 667
},
"id": "b69d08f0-441e-4746-9869-eaa1107daf66",
"page_number": 3,
"text": "The Fund returned 1.85% (1.84% net of fees) since launch date for the Reporting Period ended 30 June 2026, compared with"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 681
},
"id": "b6b12dc3-6b23-4ef8-979d-2e45297760f3",
"page_number": 3,
"text": "the Bloomberg U.S. Treasury Inflation Notes: 1-10 Year Index return of 1.85%. The tracking difference of the Fund primarily"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 695
},
"id": "2c67d60d-9e4d-4e46-a4d0-f12d5b1fe401",
"page_number": 3,
"text": "reflects timing and pricing methodology differences up until 31 May 2026. From 1 June 2026, the Index pricing moved to"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 478,
"x": 48,
"y": 709
},
"id": "f171f5ba-2111-43dc-8570-65d552783003",
"page_number": 3,
"text": "12:00pm, bringing the benchmark valuations more closely in line."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 413,
"x": 48,
"y": 731
},
"id": "d4cf753b-34cb-4151-90e6-e2ab74c166a5",
"page_number": 3,
"text": "Note: Performance returns presented above are in GBP."
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 190,
"x": 48,
"y": 766
},
"id": "d6e7c9fe-7312-4eb4-8181-2da66d6328f0",
"page_number": 3,
"text": "Risk and Reward Profile"
},
{
"block_type": "box",
"box": {
"height": 7,
"width": 70,
"x": 59,
"y": 786
},
"id": "b2b78b34-0473-4eea-8fdb-6036aaa6f3e9",
"page_number": 3,
"text": "Lower risk"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 149,
"x": 59,
"y": 811
},
"id": "0dda36fb-fa07-437b-81be-75258cb46f02",
"page_number": 3,
"text": "Potentially lower reward"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 74,
"x": 452,
"y": 786
},
"id": "d2c311bc-290e-4c37-96f2-c033034f8f83",
"page_number": 3,
"text": "Higher risk"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 154,
"x": 372,
"y": 811
},
"id": "fd1d6363-6caa-4b2c-a5db-055ec94ffce1",
"page_number": 3,
"text": "Potentially higher reward"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 432,
"x": 77,
"y": 838
},
"id": "1ff48c50-1eff-4ae3-b2f7-c2032f92c3e3",
"page_number": 3,
"text": "12 4 67 3 5"
},
{
"block_type": "box",
"box": {
"height": 14,
"width": 11,
"x": 215,
"y": 836
},
"id": "234f0d37-d6a5-40d9-9cd2-a49de0aadf5a",
"page_number": 3,
"text": "3"
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 8,
"x": 359,
"y": 838
},
"id": "ecbddf2d-1cb0-448a-a7d8-940c1063b81c",
"page_number": 3,
"text": "5"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 123,
"x": 48,
"y": 877
},
"id": "b2fc1423-29b4-4ca6-b950-8166d6f65b19",
"page_number": 3,
"text": "Risk Disclaimer"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 894
},
"id": "06ad25de-fa87-4544-8c43-f47b6125e54d",
"page_number": 3,
"text": "The risk category above is not a measure of capital loss or gains but of how significant the rises and falls in the Fund\u2019s return"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 161,
"x": 48,
"y": 909
},
"id": "3c7a9fa6-852d-4eb9-8eb4-873908903670",
"page_number": 3,
"text": "have been historically."
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 457,
"x": 47,
"y": 44
},
"id": "19dae0b5-594d-47fd-aa54-af73b89c4c24",
"page_number": 3,
"text": "State Street AUT 1-10 Year U.S. TIPS Index Fund"
},
{
"block_type": "box",
"box": {
"height": 13,
"width": 505,
"x": 48,
"y": 65
},
"id": "fcb43227-b198-4dd7-8a86-0c189a7072d3",
"page_number": 3,
"text": "Interim Report and Unaudited Financial Statements 2026"
},
{
"block_type": "box",
"box": {
"height": 13,
"width": 168,
"x": 48,
"y": 123
},
"id": "b6960115-2923-480c-9422-9bc3e600135d",
"page_number": 3,
"text": "Manager\u2019s Report"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 630,
"x": 48,
"y": 147
},
"id": "b2ac3856-a7a4-4749-a53f-15e5e643c085",
"page_number": 3,
"text": "For the first Reporting Period from 6th October 2025 (launch date) to 30th June 2026."
},
{
"block_type": "box",
"box": {
"height": 7,
"width": 3,
"x": 497,
"y": 956
},
"id": "b8b1c584-e87f-4869-8a93-17180a86ab2a",
"page_number": 3,
"text": "1"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 902,
"x": 48,
"y": 175
},
"id": "1a2a388a-16e4-4512-a74e-6ccf317eb1b6",
"page_number": 4,
"text": "For example a fund whose return has experienced significant rises and falls will be in a higher risk category, whereas a fund"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 675,
"x": 46,
"y": 189
},
"id": "fbbd7fb9-418a-4a33-96bb-e5e825de2eaf",
"page_number": 4,
"text": "whose return has experienced less significant rises and falls will be in a lower risk category."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 654,
"x": 47,
"y": 210
},
"id": "6a8c1ec4-ad14-4982-81bd-6775b4e99904",
"page_number": 4,
"text": "The lowest category (i.e. category 1) does not mean that a fund is a risk free investment."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 905,
"x": 46,
"y": 232
},
"id": "4d7cc7b6-9bb5-4e06-8191-7d111a70dcc2",
"page_number": 4,
"text": "As the Fund\u2019s risk category has been calculated using historical data, it may not be a reliable indication of the Fund\u2019s future"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 78,
"x": 48,
"y": 246
},
"id": "19a2d251-b841-466f-b1f5-4f5ee4beb940",
"page_number": 4,
"text": "risk profile."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 595,
"x": 47,
"y": 267
},
"id": "def4d9bd-ce1c-4131-b7cd-970166cbf5e7",
"page_number": 4,
"text": "The Fund\u2019s risk category shown is not guaranteed and may change in the future."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 272,
"x": 46,
"y": 303
},
"id": "4a6da12d-b80c-4a1c-bb12-ede7283518e7",
"page_number": 4,
"text": "Why is this Fund in this category?"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 695,
"x": 47,
"y": 322
},
"id": "8f871bb0-7a1d-4574-ac26-8ae129deb2a2",
"page_number": 4,
"text": "The Fund is in risk category 3 as its return has experienced medium rises and falls historically."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 797,
"x": 47,
"y": 343
},
"id": "825a79d6-890a-48cf-82d4-3771c0993c15",
"page_number": 4,
"text": "The following are material risks relevant to the Fund which are not adequately captured by the risk category."
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 157,
"x": 47,
"y": 364
},
"id": "91b11e0e-8575-4ca8-9637-98537f262723",
"page_number": 4,
"text": "Concentration Risk:"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 739,
"x": 211,
"y": 364
},
"id": "1bbdee10-64a8-44f2-94f4-a546abc0e9bf",
"page_number": 4,
"text": "When the Fund focuses its investments in a particular way, the issues affecting the investments will"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 827,
"x": 48,
"y": 379
},
"id": "2c3800b1-095b-4b7f-9d06-d334ed043263",
"page_number": 4,
"text": "have a greater effect than if the Fund was more diversified. This concentration may also limit the Fund\u0027s liquidity."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 124,
"x": 47,
"y": 400
},
"id": "d5d05608-ccce-49ec-a3b8-75acf04c0cd0",
"page_number": 4,
"text": "Screening Risk:"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 773,
"x": 178,
"y": 400
},
"id": "d2e7661c-4fc6-492c-8ff4-1720c34c6384",
"page_number": 4,
"text": "The Fund may track an index that uses a screen to identify securities based on criteria including, but, not"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 905,
"x": 47,
"y": 414
},
"id": "63ad7cdb-5e24-4458-bf29-53411b708c4f",
"page_number": 4,
"text": "limited to environmental, social and governance (ESG) criteria. The screen may be fully or partially designed by the Manager"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 428
},
"id": "8016766e-93a3-4472-8780-63a8e8e199e0",
"page_number": 4,
"text": "or by a third party provider. There is a risk that errors are made in the screening process. There is an additional risk that a"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 443
},
"id": "39ce2cb5-139d-4cbd-9384-8eb08b6292d0",
"page_number": 4,
"text": "screen provider may amend or discontinue its screening services and/or that the Manager may change the screen or screen"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 902,
"x": 48,
"y": 457
},
"id": "ea4ee434-3da7-4cb2-b8eb-bce96d201404",
"page_number": 4,
"text": "provider. In such circumstances, there is no guarantee that a replacement screen provided would result in a similar screening"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 222,
"x": 48,
"y": 471
},
"id": "02d93ec1-9f58-4664-9d91-04f67b3f12c6",
"page_number": 4,
"text": "process or would be available."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 189,
"x": 47,
"y": 492
},
"id": "20dab1d5-7522-47c0-9cc5-81df41efa8de",
"page_number": 4,
"text": "Currency Hedging Risk:"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 708,
"x": 243,
"y": 492
},
"id": "683c4125-b02c-4e53-8701-8d8c63167b32",
"page_number": 4,
"text": "There can be no assurance that the Fund\u0027s hedging transactions will be effective. By seeking to"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 810,
"x": 48,
"y": 507
},
"id": "7e6f60ce-7d47-4f1e-abc7-d1d551f1a8f7",
"page_number": 4,
"text": "reduce or eliminate losses caused by exchange rate fluctuations, hedging may also reduce or eliminate gains."
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 225,
"x": 48,
"y": 528
},
"id": "5bd78e77-3b90-44f0-9c9c-085d583a9f11",
"page_number": 4,
"text": "Duration / Interest Rate Risk:"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 672,
"x": 279,
"y": 528
},
"id": "8c682abb-c5f1-40e1-ac22-b60df7e6fd84",
"page_number": 4,
"text": "The values of bonds and other debt instruments usually rise and fall in response to changes"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 542
},
"id": "2a3651a9-3a15-4a5d-b771-c45e771ac5e7",
"page_number": 4,
"text": "in interest rates. Rising interest rates generally result in declines in the values of existing debt, while falling interest rates"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 556
},
"id": "62aa2299-fec4-42df-b97f-2e67ca04f84f",
"page_number": 4,
"text": "generally result in bond values increasing. Investments with longer maturities and higher durations are more sensitive to"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 571
},
"id": "be34fb85-6795-4e11-adb5-a9d84cddb693",
"page_number": 4,
"text": "interest rate changes, therefore a change in interest rates could have a substantial and immediate negative effect on the"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 246,
"x": 47,
"y": 585
},
"id": "994063bb-6208-4fe7-8ad5-23657903d084",
"page_number": 4,
"text": "values of the Fund\u2019s investments."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 161,
"x": 48,
"y": 606
},
"id": "1d93fc0e-054e-4639-a85e-e11d8cb54c63",
"page_number": 4,
"text": "Index Tracking Risk:"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 733,
"x": 217,
"y": 606
},
"id": "02171776-8137-4e4c-a4fc-9ba9c1596cf9",
"page_number": 4,
"text": "The Fund\u0027s performance may not exactly track the Index. This can result from market fluctuations,"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 620
},
"id": "9538e5dc-daa6-4943-a6b8-b5fda96c7dab",
"page_number": 4,
"text": "changes in the composition of the Index, transaction costs, the costs of making changes to the Fund\u0027s portfolio and other Fund"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 74,
"x": 47,
"y": 637
},
"id": "30926204-0a68-402a-90d4-ecaeff66611a",
"page_number": 4,
"text": "expenses."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 637,
"x": 48,
"y": 656
},
"id": "8a55d91c-8b30-474a-9de6-83fc497f063e",
"page_number": 4,
"text": "Please refer to the Prospectus for full details about the risks associated with this Fund."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 142,
"x": 48,
"y": 677
},
"id": "059e5564-d3f0-4f0c-9524-cbe08b21c155",
"page_number": 4,
"text": "Derivatives Usage"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 699
},
"id": "e70ca17b-30a5-403e-a1b3-484472871bd6",
"page_number": 4,
"text": "Derivatives are used in the Fund for efficient portfolio management purposes. The Fund invests in index futures to manage"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 713
},
"id": "0c1f15d2-7e58-4ce5-b2e5-fc3dd4f3df74",
"page_number": 4,
"text": "client inflows and outflows and to hedge accrued income. At all times the futures exposure is covered entirely by cash or cash"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 87,
"x": 47,
"y": 727
},
"id": "10631558-d175-4710-bfd1-2677c7e80d85",
"page_number": 4,
"text": "equivalents."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 500,
"x": 46,
"y": 748
},
"id": "e9b7eede-5d5a-4e93-ac0e-2099fced2828",
"page_number": 4,
"text": "As at 30 June 2026, the Fund had no exposure to futures contracts."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 114,
"x": 47,
"y": 777
},
"id": "536c9ffa-0e2d-4075-95c4-55f0fc6b07ce",
"page_number": 4,
"text": "Tracking Error"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 904,
"x": 47,
"y": 795
},
"id": "e7ea4e63-6d52-40f5-97ef-a975533be22f",
"page_number": 4,
"text": "The Tracking Error measures the standard deviation of the relative returns. It is the annualised standard deviation of the"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 902,
"x": 48,
"y": 809
},
"id": "a2d334aa-3a82-4a80-938a-6a3be4a97dbd",
"page_number": 4,
"text": "returns of a fund minus those of its benchmark (relative returns) and not the standard deviation of each fund\u2019s unique returns."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 47,
"y": 823
},
"id": "126cdcaf-cfde-4578-8d07-9f79d45f5c11",
"page_number": 4,
"text": "The lower the tracking error of a fund, the more the fund resembles its benchmark or the market regarding risk and return"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 110,
"x": 47,
"y": 837
},
"id": "263ca281-7012-47ca-8295-afc7ed12cfa3",
"page_number": 4,
"text": "characteristics."
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 905,
"x": 46,
"y": 859
},
"id": "5615e696-7691-4bf6-9336-a7dd62569a5a",
"page_number": 4,
"text": "As the Fund has been in operation for less than one year as at 30 June 2026, a tracking error for the one-year period is not"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 69,
"x": 47,
"y": 873
},
"id": "76edf2af-2f2b-4d56-8e82-36ea07d42f1b",
"page_number": 4,
"text": "available."
},
{
"block_type": "box",
"box": {
"height": 10,
"width": 457,
"x": 47,
"y": 44
},
"id": "0e644f0f-9e45-4bda-8ab9-499123b3ba9a",
"page_number": 4,
"text": "State Street AUT 1-10 Year U.S. TIPS Index Fund"
},
{
"block_type": "box",
"box": {
"height": 13,
"width": 505,
"x": 48,
"y": 65
},
"id": "01463d8e-d0f3-4846-a082-d4cdd52911e8",
"page_number": 4,
"text": "Interim Report and Unaudited Financial Statements 2026"
},
{
"block_type": "box",
"box": {
"height": 13,
"width": 281,
"x": 48,
"y": 123
},
"id": "636bf6c1-eeb2-45e3-8130-a48a8726582b",
"page_number": 4,
"text": "Manager\u0027s Report (continued)"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 630,
"x": 48,
"y": 147
},
"id": "ddf16805-bfd2-4b53-b90d-332e314d3210",
"page_number": 4,
"text": "For the first Reporting Period from 6th October 2025 (launch date) to 30th June 2026."
},
{
"block_type": "box",
"box": {
"height": 7,
"width": 6,
"x": 496,
"y": 956
},
"id": "87d6a64d-5fc7-4533-9289-0626a775df20",
"page_number": 4,
"text": "2"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 63,
"x": 627,
"y": 174
},
"id": "2abed276-b104-41da-8126-b77fbf424abb",
"page_number": 5,
"text": "Nominal"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 101,
"x": 724,
"y": 159
},
"id": "ff9697da-ba02-4f97-8914-dcd72775efe0",
"page_number": 5,
"text": "Market Value"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 40,
"x": 785,
"y": 173
},
"id": "a309a81b-149e-4aab-bbdc-982271cc90a3",
"page_number": 5,
"text": "\u00a3\u0027000"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 77,
"x": 873,
"y": 159
},
"id": "f528e9a2-0734-4a10-82a6-07f944b80898",
"page_number": 5,
"text": "% of Total"
},
{
"block_type": "box",
"box": {
"height": 8,
"width": 84,
"x": 867,
"y": 174
},
"id": "2479b7f4-8db2-44d2-b582-18d6ee43b925",
"page_number": 5,
"text": "Net Assets"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 246,
"x": 47,
"y": 222
},
"id": "d6c81157-1697-4ca7-89bb-d58d885aa278",
"page_number": 5,
"text": "Government Bonds \u2014 101.26%"
},
{
"block_type": "box",
"box": {
"height": 9,
"width": 197,
"x": 48,
"y": 249
},
"id": "2493b99d-59a2-4d65-8f48-0341197c236a",
"page_number": 5,
"text": "United States \u2014 101.26%"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 269
},
"id": "7c93f9d2-2e2e-4611-b6fe-2046bf946629",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Bonds 1.750% 15/01/2028 USD 55,730,000 66,516 1.73"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 288
},
"id": "5eaef05d-5472-49cb-9fa5-9d5066e56795",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Bonds 2.500% 15/01/2029 USD 53,550,000 63,612 1.65"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 308
},
"id": "57784df4-33c3-4e2c-9c42-a839f0b59134",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Bonds 3.625% 15/04/2028 USD 770,000 1,229 0.03"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 328
},
"id": "ebecc45d-e53c-49f5-bf81-fbc02ad4b76b",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.125% 15/01/2030 USD 111,075,000 102,148 2.65"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 347
},
"id": "b62feb7e-b50e-4092-8304-d8d8257e8b97",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.125% 15/07/2030 USD 155,020,000 142,377 3.70"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 900,
"x": 48,
"y": 367
},
"id": "f0e2ab52-eb1c-46ee-87e7-e607c29c4954",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.125% 15/01/2031 USD 129,665,000 115,968 3.01"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 387
},
"id": "58b3c20a-bd8a-4357-bb8d-783beca918c8",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.125% 15/07/2031 USD 140,635,000 121,462 3.15"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 406
},
"id": "0fa00b11-e331-4c69-bf81-b45083174c3b",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.125% 15/01/2032 USD 154,200,000 127,042 3.30"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 426
},
"id": "ea5761ca-9294-488b-8d9e-72cf7ea55b3a",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.250% 15/07/2029 USD 128,950,000 121,119 3.15"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 446
},
"id": "938fa240-6ee2-41e1-a37f-4c87c97eb0af",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.375% 15/07/2027 USD 124,580,000 126,073 3.27"
},
{
"block_type": "box",
"box": {
"height": 12,
"width": 903,
"x": 48,
"y": 465
},
"id": "4ee6866a-0811-4a37-8a6d-ea61e6f3266e",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.500% 15/01/2028 USD 138,350,000 137,591 3.57"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 902,
"x": 48,
"y": 485
},
"id": "02fccc96-181a-48fc-8868-91a8e236258b",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.625% 15/07/2032 USD 206,795,000 166,476 4.32"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 505
},
"id": "6ca9cdf9-e0f9-4e24-b03c-7ac921f5f503",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.750% 15/07/2028 USD 123,995,000 121,635 3.16"
},
{
"block_type": "box",
"box": {
"height": 12,
"width": 902,
"x": 48,
"y": 524
},
"id": "b1ff4014-9814-4eb0-9d60-eadc9176a1a6",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 0.875% 15/01/2029 USD 84,100,000 81,603 2.12"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 544
},
"id": "ea939f37-6c19-4e1c-83d2-5cfaf0fd1f1a",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 1.125% 15/10/2030 USD 206,225,000 156,030 4.05"
},
{
"block_type": "box",
"box": {
"height": 11,
"width": 903,
"x": 48,
"y": 564
},
"id": "682b53eb-6507-47e4-a724-463affa4e57e",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 1.125% 15/01/2033 USD 195,600,000 156,845 4.07"
},
{
"block_type": "box",
"box": {
"height": 12,
"width": 903,
"x": 48,
"y": 583
},
"id": "97016efb-290d-4174-92ef-71bfde4047cf",
"page_number": 5,
"text": "U.S. Treasury Inflation-Indexed Notes 1.250%...