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Started By
Message
LGILX - down 18% - WTF?!?!?
Posted on 12/16/14 at 5:49 pm
Posted on 12/16/14 at 5:49 pm
I've got a pretty good amount of money stored in this mutual fund. WTF happened today? Is this an error?
3
Posted on 12/16/14 at 6:05 pm to white perch
Without looking at it, they very well could have paid capital gains and that's why its reflecting a drop.. I know my invesco fund did the same thing the other day..
Posted on 12/16/14 at 6:15 pm to white perch
Capital gains distribution. Don't worry you will get a dividend in the form of more shares to make up the difference.
Posted on 12/16/14 at 6:15 pm to Shepherd88
Yep, bout that time of the year. Exactly what happened.
Posted on 12/16/14 at 7:10 pm to Janky
Thank God.
I'm new to this investing thing.
Damn near had a heart arrack
I'm new to this investing thing.
Damn near had a heart arrack
Posted on 12/16/14 at 7:11 pm to white perch
You should have also received a cash influx to the account.
Posted on 12/16/14 at 7:35 pm to Janky
quote:
You should have also received a cash influx to the account.
All transactions made today won't show up till tomorrow.
I hope
Posted on 12/16/14 at 9:14 pm to white perch
The dividends most likely won't be as big as the capital gains, but you'll either get cash in your account or more shares (if you have it set as a DRIP).
Posted on 12/16/14 at 9:48 pm to white perch
If I recall correctly you just purchased this fund. In the future you should avoid purchasing mutual funds near their capital gains distribution dates. for every share of LGILX you own (in a taxable account) you will owe around $.60 in tax on the distributions (15-20% on Long term, 25-39.6% on short term).
Having recently purchased the shares you will owe tax on long term as well as short term gains while you never really earned those gains in your own account.
To illustrate it simply lets say you invested $10k last week and today the fund company paid you back $2500 in capital gains. Your account value may still be $10,000 but you will owe taxes on that $2,500 though you personally didn't realize those gains.
If this was in a tax deferred account you can ignore all of the above.
Having recently purchased the shares you will owe tax on long term as well as short term gains while you never really earned those gains in your own account.
To illustrate it simply lets say you invested $10k last week and today the fund company paid you back $2500 in capital gains. Your account value may still be $10,000 but you will owe taxes on that $2,500 though you personally didn't realize those gains.
If this was in a tax deferred account you can ignore all of the above.
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