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Incorrect prices for Fidelity Money Market Funds

Questions about updating prices or transactions in Fund Manager

Postby redburgundy » Mon Oct 12, 2009 4:36 pm

I'm a new user so maybe I entered something wrong, but when I use fdrxx as the symbol for Fidelity Cash Reserves the updated share price is 0.25 instead of 1.00. Using other Fidelity money market fund symbols gives other incorrect values. My workaround is to use a fake symbol of fcr and set the unit price to 1.00. Is this a known issue, or did I do something wrong?
redburgundy
 
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Postby Mark » Mon Oct 12, 2009 4:46 pm

Hi redburgundy,

Usually you do not set cash and money market type investments to retrieve pricing data. If you right mouse click on your investment, and choose "Properties... / Internet Retrieve" you can turn OFF the option to "Retrieve Price", since the price should just stay fixed at 1. Yahoo often reports the 7 day yield for these symbols, instead of the desired 1. If you create a new Cash type investment this retrieve price option is normally defaulted to off.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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