Re: Fixed Funds

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In Reply to: Re: Fixed Funds posted by Mark on January 19, 2002 at 15:04:24:

: : Mark - I have a Fixed Fund in which the share quanity does not vary. How would I record a Dividend distribution that is reinvested in the fund without increasing the amount of shares? My custodian records the distribution as reinvested buying x amount of shares, then does a reverse split only on the quanity of new shares in effect negating the increase in share count.
: : Thanks again.

: Hi Gary,
: You can record it the same way in FM. A reverse split or 'recombination'
: can be recorded by doing a split with a ratio less than 1.

: Thanks,
: Mark

Mark - I agree, however the split dialog does not allow me to designate the number of shares to split. An example is I purchase 100 shares of a fund at $50.00 per share totaling $5,000.00 invested. I receive a dividend of $100.00 and reivest at $50.00 per share resulting in 102 total shares. However the fund is fixed at 100 shares. How would I get the share amount from 102 back to 100 shares and still reflect a new total of $5,100.00 invested?
Thanks.
: --
: Mark Beiley
:
: Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP
: /XP
:

Replies:

• Re: Fixed Funds Mark 10:29:53 01/20/02 (0)