Unit pricing and switching

Unit pricing

(Note that this is a brief summary only – refer to our Investment Guide for full details)

Your net superannuation contributions (i.e. after any fees and/or taxes are deducted) buy what is known as ‘units’ in your chosen investment option(s).

The number of units purchased depends on the unit price at the relevant time.

For example, if your net contributions are $1,000.00 and the unit price of your selected investment option is $1.00 at that time, then 1,000 units would be bought on your behalf.

Unit prices for each investment option are calculated on a weekly basis and fluctuate according to the investment performance of that investment option. This means the unit price for each option will reflect the value of the option’s underlying investments after making provision for tax on those investments and investment management fees.

Units in a member’s account are held at their redemption (or sell) price and this value is shown on the website, provided in benefit estimates or on the annual statement of benefits.

The value of your account balance at any time is simply the number of units you have accumulated, multiplied by their unit price at that time. Net earnings on your chosen investment option(s) (which may be positive or negative) will be reflected via changes in unit prices. If the net earnings for the option are positive, the unit price will increase. If the net investment earnings are negative (a loss), the unit price will decrease.

The effective rate of net earnings for a given period can therefore be determined by the proportionate change (positive or negative) in the unit prices from the start to the end of the period.

If you do not nominate an investment option when you join the Fund, your super will be invested in the default option of the Fund, known as the Trustee Super Balanced option.

Investment switching

You can change your investment choice (for both your accumulated balance and/or future contributions) at any time and there are no switching fees. However there may be a buy/sell spread applied as detailed in the Fees and charges page.

To view additional information on your current investment option or how to change options, logon to your account here and:

  • Click on “Your Investments”
  • Click on “Your Investment Mix” or “Change Investment Choice”

The Fund currently calculates unit prices weekly on a cycle that runs from Wednesday to the following Tuesday. Depending on exactly when you transact, it may take several days for your investment switch to appear on your account. However, your request will be processed by the Fund Administrator effective from when the next weekly price is struck after your valid instruction is received.

Unit prices are calculated based on the closing values of investment markets each Wednesday and these prices are generally available by the following Friday under normal circumstances, although times may vary where investment markets are particularly volatile.

After the price is calculated and confirmed, member accounts are updated with the new price.

REI Super intentionally uses prospective (known as “forward”) unit pricing to protect members from any unfair advantage.