Spin-Off Reporting Problems
[ Message Board ]
[ Archives ]
[ Search ]
Posted by SteveS
on February 06, 2006 at 20:02:46:
My clients owned shares of MBNA bank, which spun-off into Bank of America after January 1st of this year. However, when I attempt to create a year 2005 Performance Report, it appears that the spin-off has already happened (the ownership is listed as Bank of America). Additionally, the reported capital is twice what it should be. Perhaps I'm missing something but these kinds of issues seem really critical for a program such as this not to miss, and it should be easy enough for the software to recognize when the spin-off transpired since I manually entered the requisite data. Also, it seems to me especially cumbersome that such transactions must be entered for each account repeatedly. A global entry function (a function that might affect like-transactions for separate portfolios) seems like a reasonable expectation for a piece of software attempting to address a professional investor's needs.
Replies:
|