The new funds are:
- the State Street Research Institutional Large Cap Analyst Fund, which invests in large-cap stocks and seeks to outperform the Russell 1000 Index, and
- the State Street Research Institutional Concentrated International Equity Fund, which invests in international stocks offering above average growth potential or those appearing to be undervalued. The fund will use the MSCI EAFE Index as a benchmark
State Street also announced that it has merged the four share classes on the existing three institutional funds into a single share class with a flat fee structure.
Under the previous system, the funds had different classes with different fees based on the amount of investable assets in each.