GLOSSARY

Class A units

Managed funds are broken into units which entitle owners of units to a portion of the ownership of the assets of the managed fund. Sometimes, managed funds have multiple classes of units with different fee levels. Class A unit are the ‘standard’ units of each of our funds.

CGT

Stands for “Capital Gains Tax”, a tax on the capital gain made from the sale of assets such as shares or property.

Capital appreciation / growth

Increase in the capital value of an asset such as an investment in shares or property etc. It does not take into account distributions such as dividends.