State of Michigan 401(k) and 457 Plans

State Street S&P MidCap Index

Manager: State Street

Category: Domestic stock index

Objective: Match the performance of the S&P MidCap 400 Index.

Strategy: The Fund invests in all 400 stocks in the S&P 400 Index in proportion to their weighting in the Index. This index is a measure of 400 U.S. stocks that represent the mid-cap sector of the stock market. Mid-cap stocks are stocks of medium size. The Fund may hold 2-5% of its value in futures contracts. The strategy of investing in the same stocks as the Index minimizes the need for trading and therefore results in lower expenses.

Fund fact sheet