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Summary

Earnings on your Whai Rawa account are currently calculated based on your daily balance and added to your account quarterly. From 1 October the Whai Rawa Fund will be unitised.

What does Daily Unit Pricing mean?

Unit pricing is used to determine the value of your account based on your share of the fund’s investment portfolio(s). Your account balance will now change every day based on your share of the fund’s investment portfolio(s), investment returns (positive or negative) as well as fees/expenses.

When your contributions are allocated to the fund, they join a pool of assets from other members invested in that same portfolio. To keep track of the value of each person’s share of the pool, the total value of the assets in the pool is divided into units of equal value.

Units are then allocated to your account, according to the amount of your contribution and the entry unit price at the time of your transaction.

What difference will I see?

The big difference is that the value of your Whai Rawa savings will be calculated and available daily. The only other change is that you will notice the number of units you own, and their value will appear alongside your account balance when you check your savings.