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Reporting on the value of your account

The value of your account is the aggregate net value of your investments, including your Cash Account, after the deduction of accrued fees, taxes and charges. The information below is a guide on how different investments are valued and what will be reported. Please note that accrued fees and taxes are not reflected on your portfolio valuation report.

Cash Account

The Cash Account is a managed investment and each unit is valued at $1.00. Income is distributed on a quarterly basis and will be reinvested into your Cash Account. Accrued income is not reported on your account until it is paid.

Term deposits

The value of a term deposit is determined by the amount initially invested and the accrued interest. As the accrued interest is not reported to us by the term deposit issuer, this will not be reported on your account until it is paid by the issuer.

Managed investments

When you invest in managed investments, the number of units allocated to you depends on that product's unit price and the amount you invest. Each managed investment will generally have a different unit price, set by the product issuer. The unit price that you receive is determined by the product issuer, and generally reflects the value of the managed investment's assets after deducting the product issuer's fees, expenses and transaction costs. The value of your managed investments will be the number of units held by you multiplied by the redemption unit price set by the product issuer. Further details are available in the PDS for each managed investment. Note: managed investment distributions will not be accrued on your account after they have been declared by the product issuer and will only be credited once received by us.

ASX listed securities (excluding instalment warrants)

Listed securities are valued at their last available closing price on the ASX. If no trades have occurred for a security during the day, the last traded price will be used.

Instalment warrants

The valuation price is used to value self-funding instalment warrants. This is generally more reflective of an instalment warrant's value as the last available closing price may be several days old but the underlying security's value may have increased or decreased substantially. The valuation price would be expected to better reflect the instalment warrant price once the next trade in this security is made.

Changes in methods for valuing assets

At our discretion, we may change the method by which we value an asset. For example, where a method becomes available which reflects more accurately the fair value of these assets, we may select to use this method. Where a particular asset we believe is not fairly valued using the standard methods described above, we may report a value that we believe reflects is a more accurate value.