Smartshares Total World ETF Analysis

Overview

The Total World Fund is a unit trust, as defined in the Units Trust Act 1960. The beneficial interest in the Fund is divided into units with each unit representing an equal interest in the assets of the Fund, but not conferring any interest in any specific asset of the Fund.

The Total World Fund's investment objective is to provide a return (before tax, fees and other expenses) that closely matches the return on the Vanguard Total World Stock ETF (which, in turn, looks to provide a return that closely matches the return on the FTSE Global All Cap Index). The FTSE Global All Cap Index is made up of financial products of large, mid and small cap companies located around the world.

TWF has been granted Listing with a 'Non-Standard' ("NS") designation. This designation was granted due to provisions in TWF's Trust Deed which allow the fund manager to take steps to ensure statutory limits on the size of an investor's holdings. For further information, please see a copy of the waiver under Documents on TWF's homepage on nzx.com.

Performance

No performance was provided by the company.

In any given GDT Event the GDT website may display a range of results other than price, as explained:

' – ' means that the product was not offered.
‘n.s.’ (not sold) means that no product was sold.
‘n.p.’ (not published) means that product was sold at the starting price, and therefore GDT cannot publish the winning price. For an explanation of this rule, see question 9 in the "Common questions" page under "About GDT" at www.globaldairytrade.info
'n.a.' for the Average Winning Price means that no prices were available for that contract period (for the reasons above), and therefore no average price was applicable.

For clarification where GDT publishes ' – ' or ‘n.s.’ (not sold) NZX results will also display a '-' or 'n.s'.

Where the GDT website displays ‘n.p.’ (not published), NZX will display the starting price. Note that the NZX results page will not differentiate between prices that are equal to starting price or those that have exceeded starting prices.

'n.a.' for the Average Winning Price as displayed on the GDT website are not displayed on this results page.

Note that N/A in the table below means there has been no change between current and previous price.