Club Plus, the $1.4 billion industry fund, will make a big increase in the frequency of crediting rates it provides for its 150,000 members.

The chief executive officer of Club Plus, Paul Cahill, said the move from monthly to weekly pricing of Club Plus investment options would go live from October 1, after being “ghosted” for a couple of months with the fund’s long-time master custodian, NAB Asset Servicing.

The costs of the move will be minimal, Cahill said, because NAB Asset Servicing already values the fund’s investment options on a unit pricing basis, which it will now simply convert to a weekly rather than monthly crediting rate.

The Club Plus board had decided against providing daily unit pricing to members in the immediate future, Cahill said.

“It means the member administrator has to be able to deal with the unit pricing, and jumping across from crediting rates is a big job…we’re just starting to see the fruits of moving on to a new administration system [AAS’s AASpire] which was a long and complicated project in itself, so we wouldn’t to create the potential for more disruption at this stage,” Cahill said.

There had been an increase in member demand for more frequent pricing of investment options, Cahill said, which he attributed to greater volatility in the markets.

He believed that a weekly crediting rate struck a “happy medium” between monthly nad daily pricing.

“Members have the right to do what they like with their own money, but daily unit pricing is an accident waiting to happen. People who try and time markets rarely come out ahead,” he observed.