Why Does Class Use Ex-Distribution Prices for Managed Funds?
Class uses ex-distribution price available on 30 June rather than cum-distribution (Sell) prices for managed funds. This is because Class automatically provides an accrual for distribution income if it is not received during the financial year.
This approach is consistent with Audit Guidance Statement 009 – Auditing Self-Managed Superannuation Fund paragraph 169: “SMSFs may invest directly in unit trusts, listed securities, PSTs or other investment products for which market prices are published and readily available. If market value is employed, the auditor verifies that the unit price used is consistent with reference to cum-distribution or ex-distribution price and any accrual of income.”
If you wish to edit the price in Class, please refer to our user guide page on adding security prices for further details.
Updating the price on the Business Level will affect all funds holding this investment.