We recently changed the way we calculate unit prices so that the price for a day reflects asset valuations for that day.
Previously, the price for a day reflected asset values of two days prior.
While the unit price for a particular day is not available until two days later, our new calculation process is preferred because the unit price for a day reflects that day’s market movements.
How do unit prices work when I contribute to my account?
When you make a contribution to your super account, you receive units in the investment option(s) you have chosen. The number of units you receive depends on how much you contribute and the unit price of your chosen investment option. In the same way that we use money coming into your account to buy additional units, we sell units whenever money comes out of your account.
What about when I switch investment options?
You can change your investment option at any time by requesting an investment switch. When you submit a switch request, we apply the unit price for the day your request is received, as long as it’s before 4pm (AEST/AEDT) on a business day.
It takes up to two business days to calculate the unit price we apply to the switch. But this doesn’t mean you’re exposed to market movements during this time.
The two-day period is needed to calculate the value of all the assets we invest in and the number of units on issue, which is affected by contributions and withdrawals. We need these valuations before we can accurately calculate the unit price for any of our investment options.
How do I make or cancel an investment switch?
You can submit or cancel a switch request online by logging in to your account before 4pm. Your request will have a ‘pending’ status until the unit price is available two business days later.
Before making a switch, it might be helpful to speak with a financial planner who can help you choose the option that’s right for you. To make an appointment, call us or request an appointment online.
How do unit prices work when I make an investment switch?
It takes up to two business days to calculate the unit price we apply to your investment switch. But this doesn’t mean you’re exposed to market movements during this time, as seen in the example below. Locking in Monday’s unit price means John’s switch was not affected by the market falls on Tuesday.