What are unit prices?
Unit prices are dollar values that reflect the value of each unit of your investment at any time. They are similar in concept to share prices, in that their value can go up or down each day reflecting the changes in the value of the assets you have chosen to invest in.
Unit prices are calculated as at the end of each business day and are usually published on our website two days later. Unit prices for each business day are based on the most recently available information for that day, including market close prices for the domestic market and all applicable international markets.
Search the unit price database to find both current and historical unit prices. Unit prices were first introduced to Vision Super 10 July 2006 at which time buy/sell spreads applied.
A reserving margin is accrued daily in the unit prices. It represents an amount which is deducted from the underlying value of a member’s account and is deducted via the unit pricing process.
The reserving margin depends on the investment option(s) selected for your investment. The reserving margin is paid into a general reserve and is used to defray expenses of the Fund in accordance with the purpose of that reserve. This reserve is not used as an investment fluctuation reserve for smoothing investment returns.
From 1 July 2019, the reserving margins accrued in the unit prices for each relevant option are:
|Innovation and Disruption||0.02%pa|
What is a buy/sell spread?
Member transactions may require assets held by Vision Super to be purchased or sold. These asset transactions generally incur transaction costs. Buy-sell spreads are used to recover the estimated transaction costs incurred when buying or selling underlying assets in relation to each Investment option.
The buy-sell spread is the difference between the buy price and the sell price of units. Any buy sell spread is an additional cost to you. No part of the buy sell spread is paid to the Fund or any external investment manager.
Buy sell spreads are currently nil for all Vision Super investment options. This is based on the current level and pattern of member transactions and the current level of transaction costs incurred by our Investment managers. If circumstances change, Vision Super may need to change buy-sell spreads to ensure it is able to recover the transaction costs that result from member transactions. Details of the possible range of buy-sell spreads can be found in the 6. Fees and costs - additional guide. Buy-sell spreads may change within this range without prior notice. Buy sell spreads are reviewed on a regular basis, and are available online.