How to record a managed fund investment strategy change
My unit linked superannuation automatically changes to a more conservative strategy every ten years. The most recent was last week, the number of units was reduced and to compensate the unit price was increased. Any suggestions as to the best way to record the change? Account type is investment and I would ideally like to keep it in the same account.
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1 Posted by Stuart Beesley ... on 31 Jul, 2024 08:37 AM
what's the impact on the cost basis?
2 Posted by Ray Graham on 31 Jul, 2024 08:49 AM
I don't think it would change the cost basis? I haven't had to add more funds. I don't really want to record a sale & then rebuy. The value would be the same but it's not really a sale.
3 Posted by dwg on 31 Jul, 2024 08:50 AM
From what you described a reverse stock split may do the job.
4 Posted by Ray Graham on 31 Jul, 2024 09:30 AM
Thanks DWG so the original holding was 45920.438 units & the new holding is 42428.567755 units would that mean roughly 1 for 1.08?
5 Posted by dwg on 31 Jul, 2024 09:37 AM
For testing I would make a copy of the Account set and use that. Use backup and restore if you use syncing and select to turn syncing off when restoring the copy.
You could enter the split using the actual unit numbers. You may need to tweak the split numbers to end up with the right number of units.
6 Posted by Ray Graham on 01 Aug, 2024 08:37 AM
Many thanks DWG it worked!
System closed this discussion on 31 Oct, 2024 08:40 AM.