Ivan,
I have found that the super funds I have used will publish either a daily unit price or a fund performance.
In the case of a unit price, I have the number of units and price and treat this as a non-listed company and import the daily prices.
In the case of a cumulative daily rate, I have converted this into an effective unit price and my value in the fund to shares and again import the daily effective unit price. All transactions in the fund can be applied at the daily price and converted into buy/sell of units. You can do this in a spreadsheet first and confirm it is a useful way of tracking your fund value. The unit price gives a very good measure of long term performance, without the marketing spin.
I am not familiar with the RPP approach to super to comment on their particular reporting approach.
John
Hi,
I also attempted this approach of creating units from an effective purchase price derived from the daily crediting rates. It was accurate enough, within about $400
But I found it was not possible to record the investment returns, nor was the approach to increase cost basis to capture the fees? Selling shares to cove the fees reduced the cost basis and this didn't seem correct to me.
Do you have an alternative approach?
It would be much better with Reckon Personal supported superannuation funds who used crediting rates.
Craig,
Fees are treated as a sale of units at the fee-day unit price. ( it is a reduction in your fund value)
Return on investment should be the same as the units held x the end of year unit price.
My errors are typically only a few dollars, which can be corrected by a buy/sell of units for end-of-year adjustment.
The errors can occur due to errors in the buy/sell unit price spread or unit price for the date when fees or 15% contribution tax are applied. Often the previous day price should be applied to any transaction.
All this can be tested in a spreadsheet, to check/explain errors.
Hi John,
Thank you for response, it was very helpful.
