Managed Funds March Distribuition ???

Maybe NI don't know about it ? Has anyone phoned or emailed Investor Services ? They have always been very prompt in my experience. I don't know we can expect because an issue is discussed on here that NI will necessarily see or act on it - don't think that's necessarily part of the plan any more ? I'll give Tereasa the courtesy of an email and see what we can get done eh ?

 

Hi, Tryhard,
I agree, except that one or two Navra people post on this forum, and thought they might report any known errors to head office.
Cheers
Jayar

 

Hi Jayar

I know what you mean, but I think previous similar assumptions led to Teresa asking Steve to arrange a sticky post at the top of http://www.invested.com.au/forums/forumdisplay.php?f=62 telling us to contact them.

Cheers
Carl

 

Hi, Carl,
Yeah, I guess you're right....
Thanks,
Jayar

 

I do know where you're coming from Jayar ;-) With an entire Forum section dedicated to the subject "Navra Invest" it would be in NI's interest to have someone on here interacting daily with the threads. However I don't think the team at Investor Services were involved in the decision to have the Forum ;-) nor are they resourced to take care of this as well as their 'real jobs'. Possibly a good idea in theory when Steve was on here posting regularly and responding to virtually 'anything', but now hard to support ?

Conversely, Teresa and the team at NI Investor Services are there ([email protected]) to answer any questions from NI investors, and personally, I have always found their service excellent (and I have never seen or heard anyone say otherwise).

So I would encourage anyone who might feel antsy about anything to do with either their shareholding or unitholding in NI to write to them before posting here - because I have always found they 'cut to the chase' and its saved me posting a number of rants here on InvestEd ;-)

Cheers !
Carl

 

Yes........I hope Steve does start posting again soon as his contributions have always been very valuable and appreciated.

As time goes by I do wonder whether this will occur though?

 

I get the impression Steve is one of those visioniaries who might need a whole other lifetime to finish off some of his ideas. Probably the time involved becoming an online confidante for we hungry hordes was something he didn't count on when he decided on InvestEd ? Maybe he'll come back one day and clarify

 

My Distribution was paid into the account today.

I guess we know what you're up to tonight MrDarcy!

 

Ah yes, the March distribution and come and gone. It was a bit of a quickie really, June is always better but still such a long wait.

Actually, I got it twice tonight.... from BT and Comsec

 

Me too... Nice isn't it!

 

My HDT just got one as too !! It's not mine of course, so I only got to watch

 

Ah MrDarcy........I can see you now........

A cigarette in one hand.........a Distribution Statement in the other.....

 

Just checked my account via on-line banking,

VERY NICE !!!!

BRING ON JUNE DISTRIBUTION !!!!

 

Hi all

I let Tereasa know of this thread and she sent me back the following - so to save time I guess I should post it here... regardless of the fact I don't want to be a pseudo Navra Invest poster ... here goes :


QUOTE NI --

Thank you for your email query regarding the calculation of income. There is no error in the income shown on the website. The distribution percentage for the March quarter is 3.64% as a result of the calculation method that is used. There are different ways of calculating income, using either a simple accumulation method or a quarterly rolling based method.

The simple accumulation method assumes that the sum of the income for each period (quarter) will be the yearly return to date, whereas the quarterly rolling based method calculates the quarterly result in comparison to the previous quarter end’s result.

On the website, quarterly income returns are expressed as simple accumulation, as though each quarter’s return is added up to year’s total return. We are, however, intending to change the calculation to the quarterly rolling based method, as it will be consistent with calculations that individual investors might make based on their own investment and the CPU figure. The other complicating factor when using the rolling based method is that the total yearly income return is not obtained simply by summing up each quarter’s distribution. Thus the calculation of income is more complicated than first appears.

To give you some more technical detail, according to the Industry Standard, income return is calculated as: total income of the investment (assuming full reinvestment of all distributions) less capital return (price appreciation) over the period of investment.



Our current simple accumulation method is to calculate the total income return for the year (from the beginning of the financial year (July 1) up to the quarter end) and then to take away the percentage income return(s) that have been reported from previous quarter(s). In doing so, the aim was to give investors an easy way to add up quarterly simple returns in order to calculate the total distributed income for the year to date at the end of each quarter. By using this method, the distribution percentage is what we have reported, that is, 3.64%.

By using the quarterly rolling based method, last quarter’s income return for Retail fund would have been 3.17% and Wholesale fund 3.25%. However, please note the total income return for the year to date will still be the same as our current posted result on the website.

We are considering implementing the quarterly rolling based method from next quarter onwards. There will be explanatory notes when we do make the change.

Should you have any further queries, please do not hesitate to contact Investor Services at 1300 656 131.

-- END QUOTE

Cheers
Carl

 

Carl,

You beat me to it. I also queried the percentage with them and got the same response and came here to post it, but I see there is no longer any need to!

Not that I understand it really, being a SIMPLE man...

Cheers,
Michael.

 

In that case you can imagine how much it meant to a REALLY simple man ;-)