Re: Exchange of Mutual Fund Shares

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In Reply to: Exchange of Mutual Fund Shares posted by Glenn Golden on November 24, 2004 at 10:35:04:

: Mark:

: I have some (but not all, due to different purchase dates) Class B shares in an AIM fund that automatically convert to Class A Shares. How do I record the exchanges. I do not believe the Split function is the answer. The specific details are as follows on one of the transactions:

: AIM Select Equity Partial Exchange
: From Class B to Class A Shares
:
: Per Share Quantity Value
: Class A 7/26/2002 $11.82 225.47 $2,665.06
:
: Class B 7/26/2002 $10.75 247.91 $2,665.03 $25.6616

: Cost Basis (Avg Method)of B Shares Exchanged $6,361.77

:
:

Hi Glenn,

I didn't quite follow the specifics? Do you have your Class B shares in
a different investment file from your Class A shares? It sounds like
your Class B shares got converted to Class A shares, and you got a different
number of Class A shares in exchange for your Class B shares? If so, that
would be handled like a merger, where you record a split, and change the
name/symbol.

Was your table showing what you had before in B, and what you ended up with in
A? If so, why do you have an extra value on the "B" line?

Thanks,
Mark
--
Mark Beiley
Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP/2003

Replies:

• Re: Exchange of Mutual Fund Shares Glenn Golden 12:11:33 11/24/04 (1)
  • Re: Exchange of Mutual Fund Shares Mark 13:37:02 11/24/04 (0)