Re: Putnam fund class conversion - B to A

[ Q2 00 - Q2 01 Archive ] [ Current Message Board ] [ Archives ] [ Search ]

In Reply to: Putnam fund class conversion - B to A posted by Mike on January 27, 2001 at 08:36:12:

: I am not sure how to handle mutual fund class conversion in FM.

: Recently shares of my Putnam New Opportunity fund automatically converted from class B to class A after holding the shares for a number of years.

: The total dollar value of this account did not change, but the number of shares changed slightly due to a small difference in the B/A share values. For example it looks like Class B was at $63.91 and Class A was at $59.49 on the date of the conversion (1/19/01). Accordingly, the equivalent number of Class A shares increased.

: I thought about using the "spin off" process, but I think that way is wrong. I searched the message board and help files, but I did not see an example of class conversion (other than a simple name change).

: Thanks for the help. FM is excellent!
: Mike T.

Hi Mike,
You can record a split transaction for this. Splits can be for any ratio you
want, so you could record a 63.91 for 59.49 split ratio. Thanks for the
compliment on FM.

Thanks,
Mark
--
Mark Beiley

Fund Manager for Windows 3.1x/95/98/NT

Replies: