Setting up a mutual fund

CRK's Avatar

CRK

14 Jun, 2009 02:53 AM

Hello

Being a total novice, can someone refer me to a book or article that would assist in setting up a mutual fund in MD. I have some statements but do not know how to enter these.

  1. 1 Posted by John Selden on 14 Jun, 2009 04:18 PM

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    First, you create an investment account, which you do under the menus: Account > New Account. After you create the investment account, you have to add securities to the account (i.e., add all the mutual funds, etc., that you hold in the account). To do that, select the account from the home screen, and then go to the Securities Detail view. Click on "Add Security" and add each of the funds in which you have holdings.

    Then you have to enter your holdings (i.e., the number of shares you hold in each fund). The most straightforward way to do that is to just manually enter all of the account transactions to date into the register.

    If you have too many historical transactions to enter manually, and just want to start from your current balances, that's a different kettle of fish, but I won't go into that unless that is what you plan to do.

  2. 2 Posted by CRK on 14 Jun, 2009 05:28 PM

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    Hi

    Thanks for your reply. What I want to do is the different kettle of fish. I have a lot of old transactions and want to start from my current balance.

    Your assistance is sincerely appreciated.

    CRK

  3. 3 Posted by John Selden on 16 Jun, 2009 12:02 AM

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    If you start from the current balance and don't enter all the historical transactions, then you won't be able to use Moneydance to track capital gains. This is true for all personal finance software, of course. This might be acceptable if, for example, the account is a tax-deferred account like a 401(k) where you don't have to worry about capital gains, or you just don't ever plan to track capital gains with Moneydance and instead rely on your brokerage to keep track of those for you, as I'm sure many people do.

    If that's still how you want to proceed, all you need to do is enter a buy transaction for all the shares of each security you own in the account. For example, if you own 50 shares of XYZ stock, you just enter a single buy transaction for 50 shares (even if you purchased them over time), using the current market value. The share price for this dummy transaction will be a meaningless number and is not important. The date on these dummy transactions also doesn't matter (I used Dec. 31, 2008). Once everything is entered, your account will show a large negative cash balance. Enter that number in the "Edit Account" window as the starting account balance (without the negative sign, of course) and you should be all set.

  4. 4 Posted by Charles Korrol on 16 Jun, 2009 04:20 PM

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    Hi:

    Thank you for your help. I will try to implement it later this week.

    Chuck

     The Buddhas do but tell the way, it is for you to labor at the task.
    – The Buddha

    You are what you believe.
      – Anton Chekhov

    ________________________________
    From: Infinite Kind Support <[email blocked]>
    To: [email blocked]
    Sent: Monday, June 15, 2009 8:03:15 PM
    Subject: Re: Setting up a mutual fund [Questions]

  5. 5 Posted by Brian Adler on 16 Jun, 2009 06:39 PM

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    Charles,

    Your signature quotes are wonderful!

    John,

    That you very much for helping Charles.

  6. 6 Posted by Charles Korrol on 16 Jun, 2009 07:04 PM

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    Thank you

     The Buddhas do but tell the way, it is for you to labor at the task.
    – The Buddha

    You are what you believe.
      – Anton Chekhov

    ________________________________
    From: Infinite Kind Support <[email blocked]>
    To: [email blocked]
    Sent: Tuesday, June 16, 2009 2:41:12 PM
    Subject: Re: Setting up a mutual fund [Questions]

  7. 7 Posted by Mike on 16 Jun, 2009 08:07 PM

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    I had this exact question myself, so thanks for the thread. A follow on question: Given the advice to enter all transactions, how do I do that if the history goes back further than I intend to do for the rest of my info. For instance, I don't intend to enter any history into Moneydance priot to 7/1/09, for example, yet all my investment buys are done through transfers from checking, saving, etc.

  8. 8 Posted by John Selden on 16 Jun, 2009 09:38 PM

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    For investment purchases that pre-date your checking account, just take a similar approach to what I outlined above. Enter the purchases using a Buy transaction so that the funds come out of the investment account's cash balance. Once you've entered all those old transactions, you'll have a negative cash balance. Enter that number as the starting balance for the investment account, which will zero out the cash balance. That should take you up to the date from which you will be tracking your other accounts. From that point forward, enter all transactions like normal (using cash transfers from checking or BuyXfr etc.).

  9. 9 Posted by Monica on 07 Jul, 2009 10:18 AM

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    Hi John

    I do wish to use MD to track capital gains and found your thread very helpful. However, when I enter the historical data it is overwritten ie; the share price changes when I enter the cost and vice versa. It's presumably referencing today's prices. Is there any way to stop this happening?

  10. 10 Posted by Monica on 07 Jul, 2009 01:58 PM

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    Hi John,

    Please ignore my last post as I've managed to figure it out.

    However, I cannot get the stock prices to update from the historical figure I've used. There is activity in the bottom left of the page re: updating via the forex and synchroniser extensions so I'm assuming the trackers are correct with an L extension for London, ie; MCUAA".L" for Blackrock UK Absolute Alpha Fund Class P, but the information in the investment portfolios remains the same.

  11. 11 Posted by monica on 13 Jul, 2009 11:19 AM

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    I cant seem to find any thread on this. Any ideas pleas?

    I am unable to get my stock prices to update from the historical figure I've used. There is activity in the bottom left of the page re: updating via the forex and synchroniser extensions so I'm assuming the trackers are correct with an L extension for London, ie; MCUAA".L" for Blackrock UK Absolute Alpha Fund Class P, but the information in the investment portfolios remains unchanged.

    NB I tested using Medinax details from a forum query here and that one works fine.

  12. 12 Posted by Ben Spencer on 25 Jul, 2009 07:38 PM

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    Hi Monica

    Moneydance gets it quotes and price history for securities from a service provided by finance.yahoo.com

    This yahoo service is quite extensive and however it does not list everything. If you go to finance.yahoo.com and enter MCUAA.L you get a message saying that "There are no All Markets results for MCUAA.L"

    I am afraid that means they do not list that security, this means Moneydance cannot automatically update the price for that security. You'll have to update the price manually.

    Click Tools->Edit Securities

    Select the security you want to update.

    Click the Edit button

    Enter a new price in the "Current Price" box and click the new button.

    I am sorry for the inconvenience.

    We are considering connecting to the finance.google.com servers as well as the yahoo one as that would provide a more comprehensive set of prices. And I do not have a time line for when such a connection might be made.

    Sincerely

    Ben Spencer

  13. 13 Posted by monica on 27 Jul, 2009 12:36 PM

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    Hi Ben,

    Thanks for getting back to me.

    Kind regards
    Monica

  14. 14 Posted by Ben Spencer on 27 Jul, 2009 08:07 PM

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    Monica

    You are welcome. I am sorry I was not able to resolve your problem.

    Ben

  15. 15 Posted by monica on 01 Aug, 2009 06:41 AM

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    Hi Ben,

    I've got another little related query if you don't mind.

    I input HSBC Indian Equities with ticker symbol: 5115329 and was delighted to see all the history come up. I did a few more on that investment account and they also worked.

    However the following week all the stock information had disappeared and it no longer updated. When I checked on Yahoo finance none of them were supported. I'm just wondering how that could happen it seems rather odd.

    I'm not sure if this is relevant but the investment account is in USD and it is automatically converting to GBP on my home page.

    Thanks
    Mo

  16. 16 Posted by Ben Spencer on 10 Aug, 2009 09:04 PM

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    Hi Monica

    I am sorry I haven't responded sooner.

    I am afraid that we are currently at the mercy of the folks over at yahoo for our stock price histories and quotes. From time to time they have removed support for a very limited number of symbols. (Strangely and some what unrelatedly this is particularly true for Canadian mutual funds). If yahoo have decided to no longer provide quotes for the symbol you are interested in the there is currently nothing we can do.

    I can think of no reason why the currency conversion would have an impact on this.

    I am sorry for the trouble this is causing you.

    Sincerely

    Ben Spencer

  17. Angie Rauscher closed this discussion on 24 Jul, 2011 06:51 PM.

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