Fund Manager
Contact Us

Re: exchanges between funds

[ Q3 01 - Q1 03 Archive ] [ Current Message Board ] [ Archives ] [ Search ]

Posted by Mark on March 26, 2003 at 23:35:33:

In Reply to: exchanges between funds posted by Dan Matheny on March 24, 2003 at 15:39:26:

: Mark

: Sorry if this is a dumb question but I was wondering how to do an exchange from one fund to another with out having to go in and out of the default money market account.

: In a brokerage account I have the default money market account. All proceeds from sales go into this account automatically (this is good). But there are many times when I want to do an exchange from one fund to another in the same fund family. Currently I have to do the following:
: 1. sell the fund
: 2. buy the funds money mkt
: 3. sell the funds money mkt acct
: 4. buy the new fund

: Can you not set it up so each fund has its own default money market account? This would solve all the problems.

: Dan

Hi Dan,

The default cash account is assigned on a per portfolio basis. Depending
on how many times you record transactions this way, you may choose a
different solution. One way is to just turn off the default cash
account setting, record your buy/sell, and then turn it back on again.
Another way is to just open the investments, not through the portfolio,
and record the buy/sell transactions. A third option would be to create
another portfolio, and have the default cash account option turned off
in that portfolio.

Mark Beiley

Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP

Replies: | Search | Site Map | About Us | Privacy Policy