Your investment returns depend on the performance of the investment option(s) you have chosen to invest your savings in. Returns may be negative, nil or positive.
Daily unit pricing
The scheme uses daily unit pricing. When you log in to your account to view your investment balances online, you see the unit price, number of units and dollar value for your holding in each investment option.
A unit represents a share in a particular investment option. The unit price is based on the net value of all the investments held under that investment option. At the end of each trading day, we declare a unit price for each option, just like a share price. When your contributions are paid into the scheme, you effectively buy additional units based on that day’s unit price. Similarly, when you apply for a benefit, you redeem units to the value of your withdrawal based on that day’s unit price.
Investment management fees and expenses are reflected in the unit price. From 1 July 2019 the scheme became a Portfolio Investment Entity (PIE). Before 1 July 2019 tax is reflected in the unit price. From 1 July 2019 tax is not reflected in the unit price.
|After expenses but before tax||Current price 17/10/2019|
Our investment manager Mercer prepares a quarterly update on investment markets. Read it here.
These investment performance figures are based on the change in unit prices over a given period and are expressed as a percentage. Returns are after tax at 28% and fees. An adjustment is made to the change in unit prices to allow for tax at the top prescribed investor rate (PIR) of 28%. The percentage return on your savings will generally be higher if you are on a lower PIR.
Percentage returns for this scheme year
|Year to date||1.85||1.86||1.24||0.31|
|5-year return (p.a.)||8.15%||6.70%||4.68%||2.08%|
*Growth, Balanced and Stable were introduced on 1 May 2003. Cash Plus was introduced on 1 December 2009. Returns after expenses and tax at 28%.
Performance against benchmarks
Each option aims to outperform its benchmark. You can read more about benchmarks in the Statement of Investment Policy and Objectives.
Performance against benchmark
|to 30 June 2019 (before fees and tax)|
|3 years||5 years||7 years||10 years|