Overview
If you invest through Betashares Direct, Raiz, or Superhero, you might notice small differences between the dividend reinvestment (DRP) data shown in Navexa and what appears in your broker’s statements or on the ASX.
This is normal — these brokers use a custodial model and an in-house reinvestment system that differs from the ASX’s official DRP announcements.
Why this happens
Here’s what’s going on behind the scenes:
Feature | How these brokers handle it | Why this causes differences |
Custodial ownership | Your investments are held under a single custodian (e.g., Perpetual Corporate Trust for Raiz) instead of your own CHESS HIN. | You hold a beneficial interest, not direct legal title — so DRPs are processed in bulk, not per investor. |
Fractional investing | You can hold fractional ETF units (e.g., 2.8542 units). | ASX DRPs only issue whole units, so the platform recreates its own version. |
In-house DRP process | The platform automatically reinvests distributions using an internally calculated price (e.g., $25.64) rather than the ASX DRP price (e.g., $24.0065). | This leads to rounding and cost-base differences in Navexa’s calculations. |
These small mismatches aren’t errors in Navexa — they’re differences in how the broker reports transactions compared to what’s published to the ASX.
How Navexa handles this
Navexa sources dividend, franking, and DRP data from official ASX announcements through our market data provider.
If your broker uses their own internal reinvestment price or fractional allocation, Navexa may record:
Slightly different DRP unit counts
DRPs imported as “Sell” instead of “Buy” trades
Small cost-base variances (e.g., $2999.64 vs $3000)
We can often automate these corrections, but to do so accurately we need the same data your broker has — not just what’s announced publicly.
How you can help us automate it
To help Navexa match your broker’s reinvestment activity more accurately:
Ask your broker (Betashares, Raiz, Superhero, etc.) to ensure they send you contract notes or trade confirmations that include:
Reinvestment date
Units purchased (including fractional units)
Reinvestment price per unit
Forward those confirmations to your Navexa portfolio’s Contract Note Inbox (found under Portfolio → Inbox).
This lets us match and validate the exact reinvestment prices from your broker.If your CSV already imported incorrect DRPs, you can:
Delete the incorrect “Sell” entries
Add or edit them as Buy trades
Enter the reinvestment price and units exactly as shown in your broker’s confirmation
When this doesn’t apply
If you invest through a CHESS-sponsored broker (like CommSec, NABtrade, SelfWealth, or Pearler), your holdings are directly registered under your HIN.
In that case, DRP allocations and prices will usually match ASX announcements exactly, and no manual adjustments are needed.
Summary
These differences aren’t a Navexa error — they’re the result of how custodial, fractional investing brokers structure ownership and DRP reinvestments.
We’re working toward better automation for these models. In the meantime, the most accurate results come from brokers sending trade confirmations that include full reinvestment details.