You’ll receive units faster for most investments

We’re changing how we issue units in the Spaceship Universe Portfolio and the Spaceship Origin Portfolio. Effective Tuesday 20 October 2020, you will generally be issued units in the fund the business day after we have processed your investment application.

For larger investments, we may require cleared funds and some additional information before processing your instructions. You will receive the unit price on the next business day after we process your request.

This means that once your account is opened, if you submit an investment instruction and the necessary funds:

• Before 5.00pm on a business day, you’ll generally receive the unit price calculated at the close of markets on that day; or
• After 5.00pm on a business day, you’ll generally receive the unit price calculated as at the close of markets on the next business day.

The funds invest in companies listed on international stock markets. Because those markets usually close the following morning, the unit price for a business day is calculated after 11.00am on the next business day. We do this to ensure that the unit price reflects the market value of shares listed on international stock markets, as at the close of those markets.

For example, if you submitted an investment instruction and the necessary funds:

• Before 5.00pm on a Thursday (assuming it is a business day), the unit price for units we issue to you will be calculated after 11.00am on Friday (being the next business day); or
• After 5.00pm on a Thursday (assuming it is a business day), the unit price for the units we issue to you will be calculated after 11.00am on Monday (being the next business day).

A business day is a day other than a Saturday, Sunday or public holiday in New South Wales.