reorg mutual fund

arrichey

How do you change or move an investment account when they reorganize to another fund? Symbol VGRAX (An invesco fund) reorganized to OEGAX. A purchase on 04/21/2020 was to OEGAX and I recorded it as such but now in that account heading it shows I have a lot of VGRAX & one purchase of OEGAX but it should all be OEGAX! Thanks

Bob_L

You need to convert the old shares to the new shares using the "corporate acquisition" action in that brokerage account.  Be sure you do it dated the actual effective date or at least before the recent purchase of the new fund.  Backup first in case you make a mistake.

arrichey

Where do I find Corporate acquisition?

Bob_L

Its a choice in the drop down box to enter transactions in the brokerage account

arrichey

Thanks Bob! It sort of worked but it blew my cost basis enormously higher, LOL so I guess I will need to edit that!

Bob_L

Are you certain you had the conversion ratio correct?  You might double check that, and if that's a problem restore the backup.