Mutual fund merging into another one

pbrule

Recently, the mutual fund NBC837 was terminated and all the shares I owned of this fund were exchanged for NBC924 shares. Is there a function that does this directly in Quicken? For this case, I registered a sale of NBC837 shares followed by a purchase of NBC924 shares, which is not what really happened. There must be a better way that does not involve selling and buying shares.
Thank you.

Mark1104

use 'shares added' and 'shares removed' for the two entries.....

Chris_QPW

I believe using "Corporate Acquisition (stock for stock)" is the preferred method.

pbrule

I thought this function was used when company A bought company B using a transfer of shares. The ratio of share values would be used to determine the number of shares of A acquired equivalent to the number of shares of B that are deleted.

pbrule

Mark, although the shares added and shares removed method is by far the simplest method to use, it does not keep track of the total value of the exchange and the quotes used for both securities at the moment of the exchange.

NotACPA

In this case it's NBC924 "buying" NBC837.  Corp Acq should work well.

pbrule

Thank you all, I did use the Corp Acq function with success. I didn't expect, however, the number of "added" NBC924 transactions generated for the single "Removed" NBC837 transaction processed, but it works well.