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Commonly asked questions about Performance
- Q. What are the distribution periods for your funds?
- Q. Does Perpetual have a specific investment style?
- Q. What is Perpetual’s approach to managing international equities?
- Q. When are unit prices available?
- Q. Why doesn’t the published return always match my investment return?
- Q. Where can I find definitions for some of the terms used in the fund profiles?
- Q. What are the distribution periods for your funds?
- A. All funds within the Perpetual offering have differing distribution frequencies. In general the Australian equity funds will distribute on a six monthly basis and international equity funds will distribute yearly.
For example, the WealthFocus Industrial Share Fund makes distributions quarterly at the end of March, June, September and December whereas Perpetual's International Share Fund makes distributions annually at the end of June.
Please refer to the Product Disclosure Statement for the actual frequency of your investment as these may differ depending on the Investment Option chosen. For retirement funds, see when pension payments are made in the Retirement FAQs section. - Q. Does Perpetual have a specific investment style?
- A. Perpetual adjusts its style slightly to different asset classes but overall we follow a value-biased style - or ‘bottom up’ approach to stock selection. We use a well documented, proprietary equity process and believe that as long as we follow it, Perpetual Investments will achieve consistent out-performance of the benchmark over the medium to longer term.
You can read more about our investment style and process or for details on our fund selection, visit our Fund Profiles for more information. Each fund’s style is explained in its offer document available in the Fund Information section.
A different style of management applies to Perpetual’s Select Funds, which are multi-manager funds where Perpetual Investments selects a panel of fund managers. See details about this approach in the Perpetual Select Product Disclosure Statement (PDS) available from the Investment, Superannuation or Retirement fund information pages. - Q. What is Perpetual’s approach to managing international equities?
- A. Perpetual invests in a value-biased style – or ‘bottom up’ approach to stock selection. We actively seek out stocks based on investment risk assessments rather than its weight to an index. We believe returns are dependent on the price paid for a company therefore valuation is the key driver for a stock’s inclusion in the portfolio. We employ a strong valuation focus to investment looking to buy companies with strong earnings capacity at attractive prices. We are not wedded to one particular valuation metric but employ the traditional valuation measures in assessing the valuation of each company.
- Q. When are unit prices available?
- A. The way in which we calculate entry and exit prices for a product is set out in that product's Trust Deed or Constitution. The overall effect is that prices are based on the net value of the particular Fund's or Portfolio's assets generally, as next calculated by us after each cut-off time.
Domestic
Entry and exit prices will normally be calculated for the business day on which we receive the request using asset valuations available for that day. For an application or withdrawal request received before 3.00 p.m. on a business day, we will generally determine the entry or exit price using the market closing price in the afternoon of that day for Australian assets. Entry and exit prices will also include a spread reflecting the costs of buying or selling assets in the fund as a result of the application or withdrawal. Entry and exit prices for the fund are calculated in accordance with the fund's constitution.
International/Diversified/Balanced
Entry and exit prices will normally be calculated for the business day on which we receive the request using asset valuations available for that day. For an application or withdrawal request received before 3.00 p.m. on a business day, we will generally determine the entry or exit price using market closing prices on the morning of the following day for international assets and the market closing price in the afternoon of that day for Australian assets. Entry and exit prices will also include a spread reflecting the costs of buying or selling assets in the fund as a result of the application or withdrawal. Entry and exit prices for the fund are calculated in accordance with the fund's constitution.
The above text does not apply to the Perpetual’s Cash Management Fund, which is designed to have a unit price of $1. - Q. Why doesn’t the published return always match my investment return?
- A. The investment return you receive may differ from the investment return we quote for a fund for a number of reasons including:
- Entry and exit fees are not taken into account when calculating investment returns. If you pay entry or exit fees this may cause your return to differ from the published return.
- The period over which you invested in the fund may not exactly match the period over which we have calculated the return. As unit prices are calculated every business day, if you were not invested for the full period your investment return is likely to differ.
- Returns are calculated based on distributions reinvested in the fund. If you do not reinvest your distributions this is likely to cause your return to differ from the published return
- Q. Where can I find definitions for some of the terms used in the fund profiles?
- A. Within our Investor Education section we feature an Investment Terms glossary, featuring commonly used investment terms with succinct definitions.