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Daily Unit ValuesHow to Decipher Daily Unit Value Changes
Tracking the price/value of the funds within your retirement plan can be confusing. Often there are multiple classes and multiple values for a particular fund such as POP (Public Offering Price), NAV (Net Asset Value) and Unit Value. For example, one Fidelity Fund has at least 12 different unitized values.
The Unit Value or Share Price will vary depending on the investment vehicle and its investment options, many of which are provided by well-known fund companies. The funding vehicle for your plan is Nationwide Financial Network's Selector + Group Annuity Contract; the investment options within the contract include both proprietary and name brand funds.
As new funds are included in the Group Annuity contract, the share price is converted into our trading platform of Unit Values. The purpose of this conversion is so that trade can take place quickly at the end of a trading day and the assets can enter your account at the time of trade.
The different trading platforms often cause confusion since the newspapers and Internet sites are generally only reporting the Retail class of the share's value. Nationwide Financial Network's website represents each fund's daily Unit Value. The fund ticker symbols are generally used if you want to track the fund's overall performance, however, you cannot compare the share price reported in the newspaper to the Unit Value reported on Nationwide Financial Network's website.
The way to track the funds in your plan is via the website, which updates the funds' Unit Values daily.