Home |Frequently Asked Questions
Can I change from one Unit Trust to another?
- Yes, you are able to switch between Unit Trusts. No fee is charged on the first two switches in any 12 month period. If you wish to switch more than twice in a 12 month period, an administation fee of $100 applies to each switch. Switching funds is subject to maintaining a minimum balance in each unit trust of $5000.
Do any of the Unit Trusts have distributions?
- Yes, the Income Unit Trust lets you choose a quarterly distribution based on your individual needs. The Performance and Gold and Metals Unit Trusts do not have this facility.
How do I work out my PIR rate?
- The following link is to an IRD web page that will help you work out your PIR Rate
http://www.ird.govt.nz/toii/pir/workout/
What if I have given the wrong rate or it has changed?
- The following link is to an IRD web page that will help you change your PIR Rate
http://www.ird.govt.nz/toii/pir/changes/
How does this affect my tax return?
- The following link is to an IRD web page that will help you with your tax return
http://www.ird.govt.nz/toii/pir/obligations/
How do I withdraw money from the Unit Trusts?
- Notify Socrates Fund Management by the 15th of the month then,
- The withdrawal is priced at and processed at the end of the month and,
- Withdrawal is paid out by the 20th of the following month where possible.
Emergency withdrawals may be allowed at the discretion of the Manager, they will be priced at an estimated price with the balance made up once a unit price has been established.
A letter format can be downloaded here
Who do I contact with inquiries about my investments?
- You can call us on 03 364 9140 (Tuesday-Friday 9am-4pm)
- You can write to us at PO Box 3833, Christchurch
- You can use the contact us inquiry page to send us an email
- Or you can email directly to lisa@cdrace.co.nz
What updates are available for the Unit Trusts?
- We issue a six monthly report after the end of March and the end of September. We update the unit prices on the web site in the middle of each month as well as a commentary provided by the manager.
June was another volatile month though from beginning to end there were not major movements. Our funds all went down slightly although much of that was due to the rising New Zealand dollar during the month.