When you select specific companies and exchange-traded funds (ETF) for your investment plan, you invest into a Portfolio Investment Entity (PIE) fund managed by Sharesies—this PIE fund then invests solely in the specific company or ETF you’ve chosen, this is called a single asset fund. This means that you buy units in the PIE fund, and the PIE fund holds the shares in the specific company or ETF.
In the Sharesies app, you’ll see two different prices:
The price of the underlying investment or base fund when you go to KiwiSaver > Investments and select the investment.
The unit price of the PIE fund managed by Sharesies on the Your investment tab.
As the value of the underlying company or ETF goes up or down the unit price of the PIE fund will closely track these changes. But, because there are fees, dividends or other corporate actions the stock price won’t necessarily mirror the unit price.