Re: How to handle proprietary MM funds?

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Posted by Mark on July 25, 2007 at 19:35:18:

In Reply to: How to handle proprietary MM funds? posted by Av on July 25, 2007 at 18:36:01:

: Hello,
: When I sell a fund (in a 401K act), the proceeds of the sale are deposited into a money market fund. This MM fund is some proprietary fund available only within our 401K. I am wondering how to hanldle such transactions?

: Thanks,

: Av

Hi Av,

If you have a sub-portfolio set up for this account, just assign the MM fund as the default cash account for this sub-portfolio. You do this in the Portfolio Editor by right mouse clicking on the sub-portfolio, and choosing "Properties...". Once the MM fund is assigned as your default cash account, anytime you buy/sell any other investment in this sub-portfolio the money will automatically be taken out or put into the MM fund.

You can also record the corresponding cash transaction in the MM fund manually if you don't want to use the default cash account feature.

If you haven't already set up your MM fund, just create a new investment for it, and keep the share price fixed at $1. The number of shares will always equal the value.

Thanks,
Mark
--
Fund Manager - Portfolio Management Software

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