In Caruso, distributions are calculated on a daily pro-rata basis, reflecting the proportion of active holdings an investor holds at the close of each day. This means investors receive distributions based on the number of days they held an active holding within the fund during the selected distribution period.
Calculation Formula and Examples
In the examples below, the fund is structured as a limited partnership. The distribution each investor receives is calculated using the formula provided. For portfolio investment entities and some other fund structures, an additional calculation may be required to account for taxation.
Formula for Calculating Distributions
Example A
Two investing entities hold active units throughout a 31-day distribution period. The gross distribution amount is NZD 2,200.
Core Management Trust:
2,200 × ((200 × 31) ÷ (560 × 31))
Silver Group Trust:
2,200 × ((360 × 31) ÷ (560 × 31))
Example B
Silver Group Trust (Seller) sells and transfers 60 units to Gina Lisa Brennan (Buyer) on 20 January, within a 31-day distribution period. The gross distribution amount is NZD 2,200.
Core Management Trust:
2,200 × ((200 × 31) ÷ (560 × 31))
Silver Group Trust:
2,200 × ((300 × 31) ÷ (560 × 31))
2,200 × ((60 × 20) ÷ (560 × 31))
Gina Lisa Brennan:
2,200 × ((60 × 11) ÷ (560 × 31))
If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.