The Spaceship Universe Portfolio, Spaceship Earth Portfolio, Spaceship Origin Portfolio, and Spaceship Master Fund (of which the Spaceship Galaxy Portfolio and Spaceship Explorer Portfolio are investment options) are unit trusts, registered under the Corporations Act as managed investment schemes.

This means when you invest in a Spaceship Voyager portfolio, your money is pooled together with other investors' money. We then invest the pool of money and manage it on your behalf.

As an investor, you will hold units in the portfolio you pick instead of holding individual stocks. A unit represents a proportionate beneficial interest in the assets of the portfolio as a whole (but not any particular asset).

As an example, say you invest $1,000 into a Spaceship Voyager portfolio, and the unit price of units issued to you is $1.00. This would mean you would get 1,000 units for your investment.

Now, the unit price will vary as the market value of the assets in the portfolio rise and fall.

Your return is based on the change in the unit price of the portfolio from when you were issued units, and the unit price when you withdraw your investment (and therefore redeem your units by exchanging them for cash).

Based on the previous example, if the unit price was to move to $1.20 in two years, your units would now be worth $1,200 — an increase of 20%.

Note that the Spaceship Voyager portfolios invest in securities listed on overseas stock markets. Because those markets usually close the following morning (in NSW), the unit price for a business day is calculated after 11.00am (in NSW) on the next business day.

We do this to ensure the unit price reflects the market value of shares listed on overseas stock markets at the close of those markets.

In the Spaceship app, you can see how your investment is performing. We do all the maths in the background and display your performance in a simple and easy to understand graph.