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Distribution Query on Percentage

Discussion in 'Managed Funds & Index Funds' started by Jayar, 23rd Jul, 2006.

  1. Jayar

    Jayar Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    130
    Hi,
    I notice on the Navra website that the recent distribution was 5.11%
    By my reckoning, it was 4.97%.
    Whilst the difference wasn't much, can anyone tell me what formula is used to arrive at the 5.11 figure?
    Thanks
    Jayar
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,619
    Location:
    Sydney, Australia
    The only thing I can think of is that they don't actually use the unit price as of 30th June to calculate the %, rather they use the post-distribution unit price (which is not the same as the 1st July unit price). This means they would calculate the net fund value after the distributions are calculated, and use the number of units on offer to calculate a unit price, and then use that figure for the percentage. I'm just guessing though.