American Funds account merge

Posted by John Steele on August 2, 2009, 8:15 am

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Does anyone in the group use American funds? Last month this family
of funds merged one fund into another and I still can't seem to get
the transactions right. Both are found by quicken in the on-line
update, but balances are incorrect, and the funds themselves don't
show up in the transfer dialog (say you were going to just transfer
balances and let it go at that, I can't transfer from one account to
the new one since the new one doesn't appear as an account choice,
even though I've added it to Quicken and it has transactions in it).

Also, the downloaded transactions create a share balance, but no
security value, so they don't appear in net worth.

Any ideas?

Posted by John Pollard on August 2, 2009, 9:35 am

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John Steele wrote:

> Does anyone in the group use American funds? Last month this family

> of funds merged one fund into another and I still can't seem to get

> the transactions right. Both are found by quicken in the on-line

> update, but balances are incorrect, and the funds themselves don't

> show up in the transfer dialog (say you were going to just transfer

> balances and let it go at that, I can't transfer from one account to

> the new one since the new one doesn't appear as an account choice,

> even though I've added it to Quicken and it has transactions in it).

Merging securities is usually done with a Corporate Acquisition
transaction.

This could be problematic if you have setup your Quicken investment
account as a "Single Mutual Fund" account: you'd have to remove that
limitation to enter a Corporate Acquisition.

> Also, the downloaded transactions create a share balance, but no

> security value, so they don't appear in net worth.

Market Value = number-of-shares * price/share.

Check your price history.
[Investing > Security Detail View > (select security) > Update > Edit
Price History]

--

John Pollard