Putnam fund class conversion - B to A

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I am not sure how to handle mutual fund class conversion in FM.

Recently shares of my Putnam New Opportunity fund automatically converted from class B to class A after holding the shares for a number of years.

The total dollar value of this account did not change, but the number of shares changed slightly due to a small difference in the B/A share values. For example it looks like Class B was at $63.91 and Class A was at $59.49 on the date of the conversion (1/19/01). Accordingly, the equivalent number of Class A shares increased.

I thought about using the "spin off" process, but I think that way is wrong. I searched the message board and help files, but I did not see an example of class conversion (other than a simple name change).

Thanks for the help. FM is excellent!
Mike T.

Replies:

• Re: Putnam fund class conversion - B to A Mark 10:57:56 01/27/01 (0)