State Street SPDR S&P/ASX 200 Listed Property ETF Surpasses $490.8M in Net Assets Amid 100,000 New Unit Applications

Fund Structure and Daily Operations

The State Street SPDR S&P/ASX 200 Listed Property ETF functions as an Australian registered managed investment scheme, listed on the ASX AQUA market under ticker SLF. Issued by State Street Global Advisors, Australia Services Limited (AFSL Number 274900), the company acts as the Responsible Entity. The daily fund updates offer transparency on net asset value, units outstanding, and the composition of the underlying index basket forming the fund's holdings.

The update dated 21 July 2026 reflects operational data from the previous trading day, including applications processed and unit count changes. Managed from State Street Global Advisors’ Sydney office at Level 14, 420 George Street, NSW 2000, the fund allows authorised participants to create or redeem units daily, ensuring alignment with net asset value and index composition.

Net Asset Value and Unit Pricing as of 21 July 2026

On 21 July 2026, the ETF’s net asset value per unit was $12.52, calculated per the fund’s constitution by dividing total net assets by units outstanding. The net asset value per creation unit was $626,010.00, based on the standard number of units in a creation basket. These figures are crucial for investors and authorised participants executing transactions at market close.

The fund’s total net asset value closed at $490,792,955.32 on 21 July 2026, representing the market value of all securities in the index basket. The index basket share value per creation unit was $626,017.54, including a $7.54 rounding difference and a $0.00 adjustment amount, indicating no undistributed net income on that date. These calculations maintain pricing accuracy relative to underlying assets.

Index Basket Composition: 18 Australian Property Securities

The ETF offers diversified exposure to 18 Australian listed property trusts and REITs. Key holdings include Goodman Group (GMG) with 8,279 shares, GPT Group (GPT) with 7,756 shares, Homeco Daily Needs REIT (HDN) with 7,613 shares, and Scentre Group (SCG) with 21,146 shares—the largest holding by unit count. Other significant holdings are Stockland (SGP) with 9,845 shares and Mirvac Group (MGR) with 15,976 shares.

Additional constituents include Charter Hall Group (CHC) with 1,915 shares, Charter Hall Long Wale REIT (CLW) with 2,679 shares, Charter Hall Retail REIT (CQR) with 2,047 shares, Centuria Industrial REIT (CIP) with 2,124 shares, Centuria Capital Group (CNI) with 3,650 shares, DEXUS (DXS) with 4,343 shares, Ingenia Communities Group (INA) with 1,650 shares, Arena REIT (ARF) with 1,646 shares, and BWP Property Group (BWP) with 2,479 shares. The basket also includes Region Group (RGN) with 4,651 shares, Vicinity Centres (VCX) with 15,969 shares, and Waypoint REIT (WPR) with 2,644 shares. This broad mix spans residential, industrial, retail, and diversified property sectors, providing comprehensive Australian listed property market exposure.

Unit Application and Creation Activity on 21 July 2026

On 21 July 2026, the ETF received 100,000 new unit applications, reflecting investor demand to acquire additional units at net asset value. The opening units outstanding were 39,200,001.00, with no redemptions recorded during the trading day.

Following these applications and zero redemptions, units outstanding rose to 39,300,001.00 at market close, marking a net increase of 100,000 units. This creation mechanism enables authorised participants to meet investor demand efficiently, maintaining pricing close to underlying net asset value. The absence of redemptions indicates no capital withdrawals on this date.

Exposure to Australian Property Sector via Listed REITs and Trusts

Investors gain access to the Australian listed property market through this ETF’s diversified index of REITs and property trusts. These entities manage income-generating properties across retail, industrial, office, residential, and diversified sectors. The fund’s constituents represent some of Australia’s largest and most established property operators, offering institutional-quality exposure through a single exchange-traded product. Historically, this sector provides income distributions, inflation hedging, and exposure to property market trends.

Diversification across 18 entities reduces concentration risk compared to individual trust ownership. The fund includes pure-play industrial and logistics operators like Goodman Group and DEXUS, diversified groups such as GPT Group and Mirvac Group, and sector specialists including Scentre Group (shopping centres), Stockland (residential and retail), and Homeco Daily Needs REIT (neighbourhood shopping centres). This composition enables investors to participate broadly in Australia’s listed property market without managing multiple individual holdings.

Fund Management and Regulatory Compliance

State Street Global Advisors, Australia Services Limited serves as issuer and Responsible Entity under Australian financial services law, managing the ETF according to its constitution, the Corporations Act 2001, and its Australian Financial Services Licence. The company’s registered office is at Level 14, 420 George Street, Sydney, NSW 2000. Contact details include phone number 61 2 9240-7600 and website www.ssga.com. As an Australian registered managed investment scheme, the fund complies with all regulatory requirements for operation and disclosure.

Daily fund updates provide crucial transparency on net asset value, holdings, and unit creation/redemption activity. These updates are authorised by the Board of State Street Global Advisors, Australia Services Limited, with David Lom as Company Secretary. The updates reflect best practices in ETF management, ensuring investors and market participants have current valuation and operational information. State Street Global Advisors is part of State Street Corporation, a global financial services leader experienced in managing index-tracking funds and ETFs.

Index Methodology and Trademark Licensing

The ETF tracks the S&P/ASX 200 Listed Property Index, which measures performance of Australian listed property trusts and REITs. The index methodology is maintained by Standard & Poor's. The SPDR brand, standing for Shares For Depository Receipts, is a registered trademark of Standard & Poor's Financial Services LLC. The fund also operates on the ASX, a registered trademark of ASX Operations Pty Limited. Both trademarks are licensed to State Street Global Advisors, Australia Services Limited. The SPDR branding provides investors with a globally recognised ETF product.

The use of the S&P/ASX 200 Listed Property Index ensures transparent, rules-based selection and weighting of listed property securities. Daily updates disclose exact share counts for each constituent, enabling investors to track holdings precisely and assess tracking accuracy. Trademark licensing confirms operation under established global brand frameworks.

Investor Guidance and Disclosure

Prospective investors should review the product disclosure document at www.ssga.com before investing. The update material is general information and not financial advice, not considering individual circumstances or objectives. Investors are encouraged to seek professional advice and carefully consider the disclosure document before acquiring or holding units. Daily updates serve transparency and disclosure purposes and are not investment recommendations.

Investors should be aware of risks inherent in property sector investments, including market fluctuations, tenant vacancies, and interest rate sensitivity. The fund’s performance depends on its 18 constituent trusts and REITs. The ETF is not sponsored, endorsed, sold, or promoted by Standard & Poor's Financial Services LLC or ASX Operations Pty Limited, who bear no liability or endorsement regarding the fund. Daily updates provide operational and valuation data but do not constitute solicitation to trade.

Market Trends and Fund Growth

The 100,000 unit applications on 21 July 2026 demonstrate sustained investor interest in Australian listed property exposure via the ETF. Total units outstanding of 39.3 million reflect significant market scale since inception, with net assets of $490.8 million representing a substantial capital pool invested in Australian property securities. The lack of redemptions and positive applications on this date indicate strong investor confidence in both the fund structure and the underlying property sector.

Daily application and redemption flows reveal investor behavior influenced by Australian property market conditions, interest rate outlooks, economic factors, and portfolio allocation decisions. The fund’s efficient creation and redemption process enables it to scale with demand without requiring extensive securities market transactions typical of traditional managed funds. As an exchange-traded product, it benefits from both primary market creation/redemption and secondary market liquidity and pricing efficiency.