Why is Mutual fund price sometimes wrong?

SteveInReno
SteveInReno Quicken Windows Subscription Member ✭✭
edited August 7 in Errors and Troubleshooting (Windows)

I track my 401(k). This is a small basket of funds. Periodically, Quicken downloads the incorrect price for one of them. In this case it is EAGLE MID CAP GROWTH CIT FOUND (CEMGFX)

You can see here the prices as Friday 7/3 of the funds in my 401(k). Eagle Mid Cap is highlighted:

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Here is the screen shot from my 401(k) account. You can see Eagle is the only discrepancy.

image.png

When I look at the recent historical prices in Quicken, two things pop out. First, it is obvious that the price is incorrect, because there is not that much volatility in this fund. Second, it did this back on 6/25 as well:

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Any thoughts on how to fix this

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Answers

  • [Deleted User]
    [Deleted User]

    @SteveInReno it looks like Eagle Mid Cap Growth Fund is a collective or common fund. These types of funds do not have a published price. The price is not updated from Quicken's pricing file. The price is updated from the daily update file (OSU) from your financial institution. The lower price is the actual price of the mutual fund that the collective fund is based. I think what's happening is the price from the update file is overlaying the incorrect price from the pricing file, which you would want in this case, but sometimes the correct price from the update file doesn't update and overlay the incorrect price.

    You have two ways to fix this situation. Change the security symbol for the Eagle Mid Cap Growth Fund to something other than the actual mutual fund. Or, deselect "Update Quote" for this security in the Security List.

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    I think that fund is not publicly traded, it is a special 401(k) version of the fund. The "CIT" means Collective Investment Trust.

    I am surprised that there is a match to the CEMGFX ticker symbol when adding a security in Quicken. When I add the security, it gets the $13.66 price for 7/2. The online price in your screenshot is for 7/3, but I would not have expected a big jump like that.

    I do not get a price for 6/25, so it is not clear where that came from.

    You can always edit the price history to correct the prices.

    QWin Premier subscription
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