Members

Tasplan maintains stringent guidelines and investment strategies that apply to our investments as a whole, as well as to each of the investment options.

How are Unit Prices Determined?

Your investment in Tasplan is recorded as a number of units at a unit price to arrive at the investment value. Contributions to and amounts transferred in to Tasplan buy units in the investment options that you have chosen. Fees, charges, transfers out or withdrawals will result in the redemption of units you hold.

For contributions and transfers in, monies will be held in Tasplan’s bank account and earn interest until they are accepted or returned. Any interest earned on the monies will become an asset of the fund and apportioned between investment options. Because unit prices are calculated weekly, contributions and transfers in are processed using the prevailing “buy” unit price on the day the contribution or transfer is received.

For fees, charges, transfers out (including rollovers to TasPension) or withdrawals from your account, the transaction will be processed using the prevailing “sell” unit price for the week of processing. For switch transactions, the request is held over until the Thursday (this day may vary due to public holidays) following the week of receipt of the valid switch request and then processed using the prevailing unit price for that week. The switch “out” is processed using the “sell” unit price and the switch “in” is processed using the “buy” unit price.

Tasplan’s administrator keeps a record of all unit movements to determine the unit balance you hold so that the application of the weekly unit price will provide an accurate value for your account balance. The periodic valuation of your account uses the “sell” unit price so that it equates to the value you would expect to receive if you withdrew your account balance. Generally, investment fees, expenses, management costs and taxes are deducted before we calculate the unit price. Unit prices will fluctuate with investment returns and can be negative.

The unit price for an investment option reflects the Trustee’s estimate of the value of assets in that investment option (less fees and taxes etc), divided by the number of units issued in that option. The calculation of the value of assets in each investment option is generally based on the most recently available information to the Trustee at the date the unit prices are calculated. Generally, unit prices will be calculated once each week and usually as at the close of business on Friday of each week. Using the available values as at a given close of business for a Friday, the unit price will usually be calculated on Monday or Tuesday of the following week and be posted to the Tasplan website on the Wednesday. However, the Trustee may defer or delay the calculation of unit prices whenever it considers this to be in the interest of all members.

Reserving policy

Tasplan does not maintain an Investment Reserve and unit prices reflect the actual earnings for the period.

Tasplan does maintain an administration reserve to allow the Trustee to maintain equity between members and to ensure that Plan expenses can always be met.

Trustee procedures

While Tasplan employs professional investment managers and an asset consultant to provide expert advice, ultimate responsibility for all Plan activities, including investments, rests with the Trustee Board.

Government bodies such as APRA (Australian Prudential Regulation Authority) and ASIC (Australian Securities and Investments Commission) closely monitor superannuation fund Trustees to make sure they act responsibly and in the best interests of members.

The Tasplan Trustee maintains a system of procedures, checks and balances to achieve decision-making that is consistent with investment strategies and objectives. Trustee Directors undertake regular training in regard to investments and other superannuation issues.

Investment performance is monitored at least monthly with all investment managers measured against industry benchmarks and Tasplan's required performance standards. In cases of ongoing poor performance or non-compliance with Tasplan's requirements, investment managers can be terminated in favour of a manager that will meet Tasplan’s requirements.

Tasplan also regularly reviews the asset allocation of the investment options and makes changes when necessary, either as a result of market performance or member demand.

Tasplan Investment Policy Statement

Right click here to download the Investment Policy Statement.