In our view, unit prices are somewhat meaningless in the information they provide.

The key benefit of unit prices is for assessing relative worth, i.e. a rise from $3.00 to $3.24, enables you to calculate that you have made an 8% gain over that period.

The unit price is otherwise just a number - a way to proportionally and equally divide the fund amongst its investors and allow entry and exit of investors.

Please note: most funds do not commence at a round base value; for example, the Kernel NZ 20 Fund unit price started at $3.537.