More investment information.

Derivatives and their use

While the Trustee doesn’t directly invest in derivatives, the managers of the underlying investments may use derivatives indirectly as a hedging device to help protect the value of assets against a significant decline in investment markets.

(Derivatives are a type of security that derive their value from other security types, like futures and options. They’re often used to increase returns while minimising the risk of losing money.)

How we value your super and pass on investment earnings

When you invest in Virgin Super, you don’t buy actual assets – instead, the Trustee allocates you units in the investment option your money goes into.

Your account balance is calculated by multiplying the number of units you have by the unit price (at any particular time). Your account balance will reflect that unit prices may fluctuate from day to day based on the value of underlying investments after taking into account any investment earnings and relevant fees, costs and taxes. Each investment option has a different unit price, because they grow at different rates. Unit prices may fall as well as rise and in this way investment earnings (negative or positive) are passed on to members.

There is a difference between the unit price we use when you put money into an investment option and the one we use when you take money out, this is called a buy/sell spread. Unit prices are calculated daily, based on the latest available market price at the end of each business day. The unit price is normally calculated the next business day.

(For more information on buy/sell spreads^, read the current Virgin Super PDS.)

How the Fund was invested at 30 June 2009 and 2010

  30 June 2009 30 June 2010
Macquarie Treasury Fund $12,222,491 $13,682,711
Macquarie True Index Australian Fixed Interest Fund $48,667,894 $56,476,683
Macquarie True Index Listed Property Fund $11,061,159 $16,444,831
Macquarie International Index Equity Fund (Unhedged) $27,429,241 $33,103,442
Macquarie International Index Equity Fund (Hedged) $26,851,315 $32,807,448
Macquarie True Index Australian Equity Fund $106,376,997 $136,681,902
Tax Provision+ $2,217,412.67 $1,603,922.03
Total $234,826,509.98 $292,940,021.89

+ Tax Provision is the money that's set aside to pay the Contributions Tax to the Tax Office each year.  For further information, refer to the “Key Fund Information” section of this report.

^ A Buy price applies when acquiring units (for example, when you join the Fund or switch into a new investment option). A Sell price applies when selling units (for example, when you leave the Fund or switch out of an investment option). There may be a difference between the Buy and Sell price (referred to as a Buy/Sell spread). Buy/sell spreads can change from time to time.


Inside, the year that was.

  1. What's Virgin about our Super
  2. Smart changes in 2009/2010
  3. How to grow a healthy balance
  4. How your super is invested
  5. Important info on investment options
  6. 2009/10 market review
  7. More investment information
  8. Performance to June 2010
  9. Key fund information
  10. Virgin Super's financials