Guide to Unit Trust Prices
Here’s how to read the table: FEE – This figure, which is a percentage, shows the maximum amount that a client might be charged by the fund manager. A 5.7 percent fee would imply that out of every R100 invested, R5.70 is going to the manager and R94.3 is going into the unit trust. This figure includes the value added tax payable on the investment. It is sometimes possible for the client to negotiate on fees. NAV – This is the actual net asset value of a unit, measured in cents. For example, if you had 10 units and wanted to know their value today, you would multiply the given net asset value by the 10 units. Yield – This figure is more relevant to funds which produce dividends or interest income and doesn’t often apply to equity funds where you’d rather be looking for capital appreciation. Money market funds, income funds, bond funds and fixed interest unit trusts would show a yield. CPU – This shows how many cents you are earning per unit that you have invested in. High and Low – This is the annual highest and lowest net asset value recorded for each unit trust. Only one price is issued per day so it’s not possible to track daily highs and lows.