How unit prices work

How unit prices work

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

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:

^{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) • Queen’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 is measured in terms of:

• units that are purchased when your money goes in (through contributions)
• investment gains and units that are sold when money is withdrawn (through fees, taxes, withdrawals), and
• investment losses.
  

When are the new unit prices issued and published?

Unit prices for each business day are generally published at 6 pm the following business day. Therefore, the unit price a member sees on the website also depends on the time of day.

For example, if a member views our website or calls our office on:
 

• a Tuesday before 7:00pm, the member will see Friday’s effective date unit price
• a Tuesday after 7:00pm, they will 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.

When you submit a switch request:

• we apply the unit price for the day your request is received
• your request must be received before 3:00pm (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. These are impacted by contributions and withdrawals. We need these valuations to calculate the unit price for any of our investment options.

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.

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.

Frequently asked questions