Converting mutual funds
One of my mutual funds converted to a different fund. Same number of shares and same share price. I enter the information into the "mutual fund conversion" transaction but I'm getting the error message "No shares available for the acquired security". I don't understand.
Was it really a 1:1 swap and not 1.00123:1 or something?
Is it a taxable event?
Has the ticker changed?QWin Premier subscription0
AND, if you tell us the name of the Funds, we can do some research on our own.
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it was a 1 for 1 swap of Vanguard Balanced Investor shares ticker VBINX to Vanguard Balanced Admiral shares ticker VBIAX. The Balanced Investor Shares fund was closed. Same number and cost per share was transferred.0
OK, and have you downloaded transactions from Vanguard since this conversion? If so you might have some cleanup to do.
Start by going to Edit > Preferences > Investment transactions and selecting Show hidden transactionsQWin Premier subscription0
And what version of Quicken are you running? There were problems with the mutual fund conversion prior to the middle of last year which have been fixed in QWin 2019 but maybe not in earlier versions.QWin Premier subscription0
I am running Quicken Deluxe Version R18.16. I have downloaded investment updates from Quicken only, I do not download transaction updates from Vanguard directly.0
When my Vanguard funds changed to Admiral if the price was the same I just changed the name and ticker symbol and kept using the same account. Did all the shares change?2
You can probably do as @volvogirl says, but if you already have Added, Removed, or Placeholder (Entry) transactions involving this conversion you will have to clean them up.
If you click on Holdings, what does it show? Just the Investor shares, just the Admirals, or some combination?QWin Premier subscription0
Just investor shares are shown. I suppose I could do that workaround to change the name/symbol or just do a sell and buy. However, it seems that Quicken has the option but it's just not working. I'd hate to loose track of the history of these accounts by renaming them just to make it work.0
I tend to try and leave things the same, same as @volvogirl - and just change the Stock Symbol and fudge any little numbers - so that my Cost Basis reflects the original purchase, and not the basis from the point of conversion - which to me - is useless for a long term investor
QWin Deluxe Subscription - Win100
I just entered a 1:1 mutual fund conversion in a test account and did not have any problems.
Are you sure that Placeholders are visible and there are no Placeholders in the account that are messing with your share balances?QWin Premier subscription0
clejohn said:... I enter the information into the "mutual fund conversion" transaction but I'm getting the error message "No shares available for the acquired security". I don't understand.
The first entry (Existing fund) should be the VBINX holding; the second entry is the "New mutual fund" - VBIAX.
You'll also want to be sure about the date of the transaction AND that you do not already have an entry on or before that date that has REMOVED those VBINX shares. Such a Remove transaction might have come through from the Vanguard download through Quicken.
Thanks for your help, just renamed the accounts0
One downside of simply renaming a security when you actually had a share class conversion is that it affects all your holdings of that security, in all accounts and both before and after the conversion.
Now that Quicken has fixed the Share Class Conversion macro-transaction, the Average Annual Return columns in the Portfolio views and the Investment Performance report are correct if you include both the old and new share classes in an analysis that spans the conversion date.QWin Premier subscription0
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