Mutual fund "fully called"??

[PBAT]

Apparently I am not moving my money out of high cost investments fast enough. I recently rolled over our IRAs to Vanguard and TRowe, and was planning to move our taxable accounts after the new year to delay taxes on gains, and because I expect to be in a lower tax bracket next year.

Last week I received notice from Suntrust that one of my funds was fully called, so my shares were sold and the money moved to my MM account. Now I have about 10k in unplanned gains, which is a lot for us, especially since we have no losers to offset it. Is this a common practice? I haven't heard of this before.

Thanks - Brenda

[Texas Proud]

Wow... a new one one me...


SO, from what I read the fund was just 'closed' and all securites sold for everybody.. is this true?

Must have been a very small fund that just did not make money for the company...

I have heard of them merging funds together before, but just closing

[jIMOh]

do you have losers in other accounts you can sell?

[saluki9]

Quote:

Originally Posted by Texas Proud Wow... a new one one me... SO, from what I read the fund was just 'closed' and all securites sold for everybody.. is this true? Must have been a very small fund that just did not make money for the company...

That's what happens.

Usually you are given some advanced warning of this

[cute fuzzy bunny]

Was the fund in question a CEF that liquidated?