CROMWELL PHOENIX PROPERTY SECURITIES FUND ARSN 129 580 267
The unit prices for the Cromwell Phoenix Property Securities Fund are calculated each Sydney business day by:
- determining the net asset value of the Fund
- for the Issue Price, dividing the net asset value of the Fund by the number of units on issue and adding the buy spread
- for the Withdrawal Price, dividing the net asset value of the Fund by the number of units on issue and deducting the sell spread.
Buy/Sell Spread
The buy/sell spread is the difference between the Issue Price and the Withdrawal Price of units. Issue and Withdrawal prices reflect a spread (adjustment) of +0.30% and –0.30% respectively around the unit price. The buy or sell spreads reflect an estimated amount of transaction costs. The buy and sell spreads include CPS’s estimate of brokerage and other costs expected to be incurred in buying and selling the securities and other assets of the Fund as a result of investments and withdrawals made by investors. The buy and sell spreads are retained in the Fund and not paid to CPS. The purpose of the buy and sell spreads are to ensure that those investors transacting in the Fund’s units at a given time bear the Fund’s costs of buying and selling assets as a result of their transaction.
For further information, refer to the latest 
Product Disclosure Statement for the Fund.
unit pricing errors
Per ASIC and APRA's Unit Pricing: Guide to Good Practice, investors will receive compensation for any material unit pricing errors. Please note that in accordance with these guidelines Cromwell does not pay exited members compensation for material unit pricing errors where the amount of any compensation payable is less than $20.