How does the Fund Work?
Reece Frazier avatar
Written by Reece Frazier
Updated over a week ago

Now that you have successfully purchased Units in the Fund of your ExtrasJar Extras Account, you are a step away from being eligible for a distribution.

Distributions will generally include the proportion of the Fund's net income, earned from holding and disposing of the Fund’s assets during the year, which relates to the "Extras" class of units, taking into account taxable gains and losses. This is divided by the total number of units issued in the “Extras” class at the end of the day the distribution is calculated, to determine the income per Unit.

Unit holders are then issued additional Units equivalent in value to the income per Unit, multiplied by the amount of Units held by the unitholder at the end of the day the distribution is calculated.

Generally, we calculate distributions annually on or around 30 June each year, and pay distributions within 90 days of that date. We may change the timing of distributions, or whether one will be paid for a particular year, at our discretion. To be eligible for a distribution, you must be a unit holder on the distribution calculation date.

What if I want to withdraw my investment?

You can withdraw your Units investment via the ExtrasJar app or from the Fund using your ExtrasJar card. If you wish to withdraw through the app, you just need to submit a request electronically through the ExtrasJar app. When you ask to withdraw your investment, you will redeem Units that you hold in the Fund.

Meanwhile, once you have been issued with an ExtrasJar Card, you can withdraw up to 90% of your total balance (Available Balance) in a day by using your ExtrasJar Card to pay for authorised treatments and/or transactions.

Each time you make a transaction on your account, you direct us to process that transaction. We can’t stop a processed transaction.

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