Why is the unit price usually not exactly 100 euros?
With about 100 euros, you can already invest in a wikifolio certificate.
Each wikifolio starts with a value of 100 euros. Depending on how the wikifolio develops, its value and the corresponding price of the wikifolio certificate change as well. If a wikifolio becomes investable, this takes place at the current value.
A simplified example:
If a wikifolio has achieved around 10 percent performance after its launch with 100 euros and one wants to enter then, the cost of the wikifolio certificate is about 110 euros per unit. If, on the other hand, a wikifolio has achieved a performance of minus 10 percent by the time of the issuance, the wikifolio certificate costs 90 euros per unit on the issuance date.
Note: For convenience of illustration, the certificate fee, performance fee, natural spread and spread widening were not included in the simplified example, and therefore the actual performance will differ from the exemplary calculation.