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How unit prices work

Unit prices are important in working out the value of your super account balance.

Key points:

  • When you join Aware Super, contributions are made into your account by you or your employer.
  • Your contributions are invested in your investment option. Your money is combined with the money of all other members in the same investment option.
  • These combined contributions for a specific investment option are divided into units (other than the Term Deposit option, which isn’t unit based).
  • Your contributions 'buy' a number of units in your chosen investment option.
  • Every unit you own represents your share of the investment option.
  • The unit price is the value of one unit of an investment option, and there is a unit price for each investment option.
  • Unit prices are calculated daily.
  • The value of your super account balance is determined by:
    • the number of units you hold within your investment option, and
    • the unit price.

How the unit price is calculated

The unit price for each investment option is calculated at the end of each business day.1

This is done by taking the net asset value of the investment option and dividing it by the number of units on issue for that investment option.

The net asset value is the value of the assets in the investment option, minus investment fees, other expenses and tax.

Unit prices can move up or down, as they are calculated in line with the net asset value of the investment option. When investment returns are positive, the unit price will generally go up. When investment returns are negative, the unit price will generally go down.

This means that all the investment earnings are reflected in the unit price of each investment option. For example:

Let’s say the total asset value of the Balanced investment option is $10,000,000 and there are 5,000,000 units issued to members.
This means the unit price is $2.00 ($10,000,000 ÷ 5,000,000).

If the value of the assets increases by 10% after fees and taxes, then the total value of the option will increase by 10% to $11,000,000.

The number of units hasn’t changed so the new unit price is $11,000,000 ÷ 5,000,000 = $2.20.

1 A 'business day' is all weekdays excluding the following public holidays: • New Year’s Day • Australia Day • Good Friday • Easter Monday • ANZAC Day (when it falls on a weekday) • King’s Birthday (in June) • Christmas Day • Boxing Day

Unit pricing and your super balance

The value of your super account balance is determined by:

  • the number of units you hold within your investment option, and
  • the unit price.

Number of units x Daily unit price = Value of your super account balance.

Your super balance will fluctuate as a result of:

  • additional units being purchased when your money goes in (through contributions)
  • units being sold when money is withdrawn or deducted from your account (for example to pay administration fees), and
  • investment gains and investment losses.

When are the new unit prices issued and published?

Unit prices for each business day are generally published after 6:00pm the following business day. Therefore, the unit price you see on the website also depends on the time of day.

For example, if you viewed our website or called our office after 6:00pm on a Wednesday, you would see Tuesday’s effective date unit price but before 6:00pm you would see Monday’s effective date unit price.

Switching investment options

What about when I switch investment options?

You can change your investment option at any time by requesting an investment switch.

If you submit a switch request before 3:00pm (AEST/AEDT) on a business day, we apply that day’s unit price. If you submit a switch request after 3:00pm (AEST/AEDT) on a business day, we apply the following day’s unit price.

It usually takes two business days for investment switches to show in your account, but the unit price will be effective the day you placed the switch in accordance with the cutoff times above.

If we don’t have enough information from you to process your request, we may use a later unit price.

Cancel an investment switch

Once you have submitted a switch request online, it will have a ‘pending’ status until the unit price is available and we have finished your request. This is generally within three business days.

While your switch is 'pending', you can’t cancel a switch request or a Term Deposit application. Once we’ve finished your first request, you can submit another.

Before you make a switch, you can speak with a financial planner who can help you choose the option that’s right for you. Book an appointment.

Frequently asked questions

There are differences in fees and tax treatments for our different products.

These include:

  • Future Saver super account
  • Retirement Transition account
  • Retirement Income account, and
  • other investments funds.

The unit prices for the investment options across these products will always be different. The difference will occur even though it’s the same investment option.

If you have a Retirement Income account, your money will be invested in different underlying assets. This is compared with the Future Saver and Retirement Transition accounts.

No. Unit prices don’t apply to:

  • defined benefit accounts
  • deferred benefit accounts, and
  • lifetime pensions,
  • term deposits.

It's easy to manage your account anytime, anywhere. Use our award-winning mobile app1 or through Members Online your secure members portal. All it takes is a few clicks.

With online access you can:

  • view your super balance
  • view the unit price details of any investment options you have
  • switch your investment options
  • consolidate all your super
  • update your details
  • change your insurance cover
  • access your annual statement.

Register online  or download our mobile app.

1 The Aware Super app was awarded the Bronze Stevie Award at the 2022 International Business Awards.

Where to next?

Check your investments

Did you know you can check and switch your investments using your Aware Super online account?

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