My bank has switched all my mutual funds (18) from A series to F Series which I am told will have higher returns but I will now be paying an an additional amount for investment advice from the bank. The old A funds have had the total balance switched out and then switched back in to the F fund. The F funds have about a 10% higher price, thus the share count will be lower to make the dollar amounts from the A funds equal to the dollar amounts in the new F funds.
Both A and F funds have exactly the same shares but the accounting/fee structure is different, hence the different price. (This is my understanding of the situation - I may be wrong)
Can I make this investment switch in Fund Manager without creating a whole new set of mutual fund files? I have tried transferring out the total of the old A funds and then transferring back in at the changed price and share count but that appears to mess up my cost base.
Sorry if I am not using the proper terminology for some of these actions, etc. I have been using Fund manager for over 20 years now and this is the first time I have run into this problem.
Any help is much appreciated.
John Casey