Re: Single fund conversion to more than three different funds
In Reply to: Re: Single fund conversion to more than three different funds posted by J.T. Amin on January 27, 2001 at 08:23:32:
: : : I had a mutual fund that was converted by my account manager to three different funds.
: : : My shares in the original fund were split in three and then invested in to three different mutual funds.
: : : How do I handle this in the fund manager? The fund manger allows you to split fund only once. If I start three new investments then I loose track of my cost basis. Is there a way to do this without loosing track of my initial fund?
: : : I will appreciate help in this.
: : : Thanks.
: : Did your account manager sell your shares in the first fund? You would want
: : Thanks,
: The account manager and the fund company did 'Exchange redemption' and 'exchange purchase'on the fund. The original shares were divided into three lots of shares and then the 'exchange redemption' and 'exchange purchase' was done.
: 'sell' and 'purchase' was not done.
: J.T. Amin
1) make 2 copies of the original investment using "File/Save Top Investment As...". You will now have 3 investment files with all the same data.
2) Go into each investment and record a "Return of Capital" distribution
3) Record a split transaction to adjust the number of shares to the new
4) Change the name/symbol in "Investment Properties...".
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