Fund Switching and your profit
Posted: January 10th, 2020, 9:41 pm
I have recently switched total monies out of two funds which both had profits in them.
I have now bought into 2 new funds with the monies however the valuation doesn't actually show the amount of profit within each new fund one as the cost of purchase would be the amount I paid in the original fund. So within the new fund are my gains but the valuation treats it as all new money with no gains shown on day 1. The platform I use is Fidelity however I have been using Trustnet as it gives me a much clearer valuation than Fidelity as it allows you to insert the real cost of purchase and keep the profit separate despite switching funds.
I do hope I have explained this clearly and am I making the right assumptions regarding the gains/profit.
I have now bought into 2 new funds with the monies however the valuation doesn't actually show the amount of profit within each new fund one as the cost of purchase would be the amount I paid in the original fund. So within the new fund are my gains but the valuation treats it as all new money with no gains shown on day 1. The platform I use is Fidelity however I have been using Trustnet as it gives me a much clearer valuation than Fidelity as it allows you to insert the real cost of purchase and keep the profit separate despite switching funds.
I do hope I have explained this clearly and am I making the right assumptions regarding the gains/profit.