Yes, exactly. I have two PIMCO funds which converted and the download from Fidelity was Add/Remove Shares. I believe the "correct" way to handle this is Mutual Fund Conversion but it adds so many transactions and the correction doesn't convert to the correct number of shares...all for a couple of pennies per share. I know its to my advantage but is it worth the extra "stuff and inaccuracy?
I tried adding a mutual fund conversion transaction. It worked, in that the correct number of shares was recorded. It only resulted in about 7 transactions, since I don't have that many lots. All looked fine until I opened up the Investing tab, and looked at the graph for "Growth of $10K". It showed a HUGE spike, on the order of a 1000% return. This, of course, is not right. So, I deleted the mutual fund conversion transactions, and re-entered the Add/Remove Shares transactions. Now the graph displays correctly.I suppose that I don't care too much about cost basis, since this fund is held in a retirement account. But, it would be nice to show the correct rate of return before and after the conversion. I've owned the fund for a long time.
Thank you for all the input. In one position, the discrepancy in the total number of new shares owned is 4 millionths of a share. I own two affected funds in three accounts with monthly distributions for 5 years so about 1500 separate lots that have different amounts of shares compared to the FI record, and the newly entered lots have the date of the conversion, not the original purchase date. Doesn't this mean any performance calculation must be not valid? If I don't need the cost basis since this is a retirement account, and I can't get an accurate performance measure, what reason would I have for doing extensive tedious corrections?
Hopefully the fix below will resolve the problem of the wild swing in the Growth of $10k graph. Back up your data file first, just in case...Select the Removed transaction for the old share class and look at the number in the box in the 2nd row of the Action column, below "Removed". This should be the value of your security on the date of the conversion (share price x # of shares). This "hidden" number is used in the Growth of $10k and average annual return (IRR) calculations. In QWin prior to 2018, this number was often wildly wrong, # of shares squared x share price or something like that. I thought they fixed it in 2018, but maybe the problem is back.If the number is wrong, deleting and re-entering the Remove transaction may fix it, or you can simply type the correct number in this box and hopefully it will fix the problem.
How do you handle the discrepancies in millionths of shares on each of hundreds of share lots created by the conversion?
Very similar issue of Mutual Fund Class / Account Change. I have several MFs with the same company. They are investment accounts, not IRA tax deferred, so cost basis is very relevant. All of the accounts were "class changed." For each of the accounts changing, Quicken downloaded reported shares in old classes as "SoldX" at market value that date, with a $0.00 balance in the accounts after the transactions downloaded and were posted. I had to "Add Account", selected the Mutual Fund Co., Quicken went on line, found the new class funds, and downloaded transactions as "BoughtX" at the market value on the date of the conversion. Because the share market value of the new funds (in each case) was slightly (very slightly) less, the new class accounts had a few more shares than the old class accounts. The exact dollar amount, however, was the same. A further problem in researching this, re the MFC, which I tried to do, is that when I click on "Enter Transactions," not all the accounts showed the "Mutual Fund Conversion" option in the drop down list. Only a few did. The set up of the accounts were all the same, i.e., Mutual Funds, not tax deferred, single mutual fund, etc.Obviously, cost basis, historical record, re-invested amounts, return on investment, are all relevant, and very important. What to do?
The set up of the accounts were all the same, i.e., Mutual Funds, not tax deferred, single mutual fund, etc.
