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Setting Up Managed Funds Expand / Collapse
Posted 1/03/2012 8:47:01 PM
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I'm in the process of setting up my fund transiting from a corporate administrator and I'm wondering how to handle managed funds .

These funds usually quote prices on a "per unit basis" yet my initial investments were done on the basis of a fixed sum of money being invested.

Should I be adding these managed funds on the basis of having acquired a single unit for the sum invested (similar to the way term deposits are handled) or trying to determine the number of units acquired based on the unit price at the time the fund was purchased?

The problem that arises when using the second option above I end up with the number of units being a number with up to 5 decimal places! As I am picking up my fund as of July 1, 2011, it makes it difficult to equate to the audited numbers.


Post #4792
Posted 6/03/2012 5:18:15 PM

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It sounds like you should add them with the same approach as the Term Deposit method which can be found via the following link:
Term Deposits - How To

My suggestion would be to load the Sample Fund and enter the Managed Fund in there using the Term Deposit approach. This will give you an indication if it's the correct approach or not.

We strongly advise users to test things in the Sample Fund rather than their own fund when they're not sure about the process as it keeps their fund free of errors.


Post #4793
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