Confused - TMFGX ?

[LakeRat1]

Can someone explain to me what Motley Fool Mid Cap has done this past month? The funds no longer exists, looks like a name change to TMFM. The holdings I had in TMFGX are worth far less in this new fund TMFM than there were 16 days ago ..... TIA

 

[njhowie]

Did they give you the same number shares in the new fund as old? The share price looks pretty close between the two the past couple weeks...TMFGX was $28.40 as the last price on Dec 3, TMFM is $28.38 today.

Now, the month prior to Dec 3, TMFM did fall from about $34 to that $28 level. But as far as the transition from the old fund to the new, if they exchanged you 1 for 1, there hasn't been any real decline since the change took place.

 

[PaunchyPirate]

TMFGX Paid a $2.10 per share dividend on December 1st. This was about 15 days earlier than the normal annual dividend. That would have lowered the NAV at the time. Did you get that dividend?

 

[PaunchyPirate]

Plus, it looks like the management company converted their mutual funds into ETFs. Hence the ticker change.

https://www.mfamfunds.com/assets/pdfs/MFAM_Conversion_Shareholder_Letter_Final-11-9-2021.pdf

https://www.mfamfunds.com/assets/pdfs/MFAM_Conversion_Information_Statement_N-14.pdf

 

[LakeRat1]

Great !!! I thank each of you, I understand now ......