One mutual fund merged with another. How to handle this.

stgd

the acquiring fund has replaced the older fund but with a different amount of shares and different unit price. Net result is about the same total $ value. I have not made any entries or let one step update do anything yet. How do i handle this? please. I dont see any merger transactions in the "enter transactions" drop down

Sherlock

I suggest you use the Corporate Acquisition (stock for stock) wizard.  If the mutual fund being acquired is in a single mutual fund account to access the wizard you need to open the register, press Ctrl + Shift + E, choose No for Single mutual fund account, and select OK.

Before making any significant changes to a Quicken file, always save a backup: press Ctrl + B

stgd

The Corporate Acquisition wizard asks for "new shares issued per held share". This is confusing and implies some sort of ratio. In the instant case, im ending up with less shares , bigger unit price. How do i get thru this please EISIX acquired UMBWX. running Quicken subscription. Thank You

stgd

the 2 funds have the same CUSIP number

volvogirl

When I used Corp Acquistion I found you have to manually calculate how many new shares you got for each ONE old share. Took me 3 times to notice that part.  How many old shares did you have and how many new shares?  Take the old shares divided by the new shares, so you will come up with a percentage like .901234 or .75 etc.  

Sherlock

stgd said:

The Corporate Acquisition wizard asks for "new shares issued per held share". This is confusing and implies some sort of ratio. In the instant case, im ending up with less shares , bigger unit price. How do i get thru this please EISIX acquired UMBWX. running Quicken subscription. Thank You

To calculate the new shares issued per held share divide the number of new shares by the number of old shares.  That is the number of new shares of EISIX you received divided by the number of shares of UMBWX you held.

volvogirl

Oh I see I wrote mine the wrong way.  It should be Take the new shares and divide by old shares. 

Here's an example.  
Years ago my Vanguard funds converted to Admiral shares.  Most of the conversions to Admiral were for all the same # of shares.  So I just changed the name and symbol.  One fund was so close I just did an adjustment and removed .176 shares.  I had 536.743 shares before and they converted in only 536.567 shares.  

I was going to do the Corp Acq  then decided just to adjust the shares.  If I had done the Corp Acq it would be 

536.567 new shares divided by

536.743 old shares

= .99967209 new shares for each 1 old share.