If you've requested a fund switch or a withdrawal from your KiwiSaver or investment account, it’s important to understand that the final dollar amount that will be paid to you or switched will not be identical to the balance that you see in FastNet Classic.
This is normal, and it is because these are unitised products, and the value of the units can change every day. The value of the unit price is based on the value of the underlying holdings that the fund is invested in, for example the bonds, shares, property and cash investments held by the fund. If the value of the underlying holdings goes down, for example as a result of a fall in the sharemarket, then the unit price will go down. If this happens, then the value of your investment will decrease. If the value of the underlying holdings goes up, for example a rise in the sharemarket, then the unit price will go up, and the value of your investment.
After we have received your request, we need to wait for the current unit price to be determined, sell your units, manage any tax obligations and fee deductions, and then pay out/switch your funds. This means the unit price and value of your investment may have moved, possibly up or down, depending on how markets have performed.