A daily traded fund is a fund where units are bought and sold once per trading day. All orders received before a fixed time, the cut-off, are executed at the same price: the fund's net asset value per unit for that day. Most mutual funds sold through banks and fund platforms work this way, and so do AuAg's four funds. 

This is what separates daily traded funds from exchange-traded funds (ETFs), which trade continuously on a stock exchange at a market price. You can read more in our guide to exchange-traded funds. 

1. You place an order 

You buy or sell fund units through your bank/platform. 

2. The platform forwards your order before the cut-off time 

The platform collects all customer orders until its cut-off time, usually 1:00 pm CET, and then sends a combined buy or sell order to the fund company. Cut-off times differ between platforms, so check what applies to yours. 

3. The unit price is set and published the next day 

The unit price is set at around 11:00 am the day after the order day. It is based on the order day's closing prices on all markets where the fund holds shares. The US market closes last, so the price can only be set once US closing prices are known. 

AuAg's funds own companies listed on several markets in different time zones, including North America. When the unit price is set the following morning, closing prices from every market are available. Each holding is valued at its actual closing price for the order day, and everyone who traded on the same day receives the same price. 

Platforms normally publish the new price 2–3 hours later, around 1:00–2:00 pm. AuAg's own fund pages publish it earlier, at the top of each page: 

AuAg Silver Bullet 

AuAg Gold Rush 

AuAg Essential Metals 

AuAg Precious Core 

Some funds set the unit price on the same day the order is placed. This may look faster, but the price is then set before all markets have closed. It is therefore not based on the day's actual closing prices, but partly on price movements from the previous day. 

1. Choose a platform. AuAg's funds are available through various banks and fund platforms. Availability differs between countries, so check whether yours offers them.

2. Pick the fund and account type. Depending on where you live, fund units can be held in a regular securities account or in a tax-advantaged savings or pension account. The rules differ between countries.

3. Read the fund documents. The prospectus and key information document describe the fund's strategy, risks and fees. 

4. Place your order before the cut-off. The order is executed at the next unit price, as described above. 

The funds are closed for trading on Saturdays, Sundays and public holidays, both in the country where the funds are registered and in the US. The unit price is then published on the next business day.

If the fund is closed for a public holiday while the US market is open, the next unit price reflects two days of price movements on the US market.

In AuAg's funds, daily trades are executed once per trading day. An order placed before your platform's cut-off time is executed at the unit price set the following morning, based on the order day's closing prices on all of the fund's markets. The latest price is published first on the fund pages for AuAg Silver Bullet, AuAg Gold Rush, AuAg Essential Metals and AuAg Precious Core.