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<title><![CDATA[Managers Special Equity Managers]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/forumview?bn=29795</link>
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<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/forumview?bn=29795</link>
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<title><![CDATA[Re: why is this fund down?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=1&amp;mid=12&amp;tof=1&amp;off=1</link>
<description><![CDATA[It is really simple.   Let us say that the fund is worth 1,000,000.   If capital gains come in at 175,000, that means that the underlying stocks are worth 825,000 and the capital gain segment is worth 175,000.   For ease, let is say that the underlying stocks were worth, on an average, of 100.00 each.   After the capital gain, however, since $$ has been taken out, those stocks are now worth $82.50 each.   For every share you had before, at $100.00 a share, you now have 1 share at $82.50 per share PLUS 17.50 per share.   Your total is still $100.00 per share. Now, however, you RE-INVEST the capital gain ($17.50) into purchasing additional shares.   In this case, you would be buying a small part of a share at .2121 (.175/.825) additional share to add to your total.   So now, instead of one share at $100.00, you now have 1.2121 shares at $82.50 a share. 

Of course, the share continue to rise or fall in rhythm with the stock market, so your total value will fluctuate.

Good luck!]]></description>
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<pubDate>Mon, 09 Nov 2009 20:10:38 GMT</pubDate>
<author><![CDATA[mrpolkpolk]]></author>
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<title><![CDATA[Re: Stunning Drop]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=9&amp;mid=11&amp;tof=2&amp;off=1</link>
<description><![CDATA[And that is suppose to make up for too many cooks in the kitchen, high expenses and terrible performance for the space.]]></description>
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<pubDate>Tue, 30 Dec 2009 19:32:46 GMT</pubDate>
<author><![CDATA[daviddcc2]]></author>
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<title><![CDATA[Re: Stunning Drop]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=9&amp;mid=10&amp;tof=3&amp;off=1</link>
<description><![CDATA[Earth calling David!   Earth calling David!

It's called year-end distributions.

Is there a bigger word for CLUELESS?]]></description>
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<pubDate>Tue, 30 Dec 2009 19:32:45 GMT</pubDate>
<author><![CDATA[Smithscove]]></author>
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<title><![CDATA[Stunning Drop]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=9&amp;mid=9&amp;tof=4&amp;off=1</link>
<description><![CDATA[Is there a bigger word for dog?]]></description>
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<pubDate>Tue, 30 Dec 2009 19:32:45 GMT</pubDate>
<author><![CDATA[daviddcc2]]></author>
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<title><![CDATA[Ouch]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=8&amp;mid=8&amp;tof=5&amp;off=1</link>
<description><![CDATA[401k babies are hurting in 2008, was out of this one in 2006.

YIKES!]]></description>
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<pubDate>Tue, 18 Nov 2008 23:14:59 GMT</pubDate>
<author><![CDATA[sblowmeh]]></author>
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<title><![CDATA[Re: Drastic Price Drop]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=4&amp;mid=7&amp;tof=6&amp;off=1</link>
<description><![CDATA[I appreciate the excellent explanation.   Thank you.]]></description>
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<pubDate>Thu, 03 Jan 2008 23:19:54 GMT</pubDate>
<author><![CDATA[fitymi]]></author>
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<title><![CDATA[Re: Drastic Price Drop]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=4&amp;mid=6&amp;tof=7&amp;off=1</link>
<description><![CDATA[Thanks for the explanation.   Placed next to NAESX, the chart sure looks like there was a sharp drop.   I'll be curious to read the annual report when it comes out.]]></description>
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<pubDate>Mon, 31 Dec 2008 19:30:26 GMT</pubDate>
<author><![CDATA[jayfram1]]></author>
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<title><![CDATA[Re: Drastic Price Drop]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=4&amp;mid=5&amp;tof=8&amp;off=1</link>
<description><![CDATA[Not a price drop per se, but a distribution of short ($1.2089) and long ($17.5166)term capital gains, no dividend distribution.   Hence, your investment value, at the time of the distribution, remains the same.   

Said another way, the fund was valued at approximately $84.81 per share.   The fund company distributed to you about $18.73 for every share you owned.   The remaining value of the fund was then estimated at $66.09.   

If you reinvest capital gains you now have more shares valued at a lower per share cost.   The net effect is that the total value of your account does not change as a result of the transaction.   

If you do not reinvest capital gains you have the same number of shares plus cash valued at about $18.73 per share.   Again, the next value of you account does not change as a result of the transaction.   

Furthermore, outside a retirement account you will be taxed on the capital gains.   Generally, however, capital gains distributions are taxed at a lower rate than dividend distributions.

The gains come from the trading of shares the fund owns.   Someone must pay taxes on the dividends and/or gains, either the fund company or the fund/shareholder.   Fund companies avoid taxes by distributing the gain/dividends to shareholders.   Thus, the distribution burdens the shareholder with paying the taxes.   

This is why many advisers do not recommend buying fund shares(outside a retirement account) at the end of the year, shortly before a distribution - because, shortly after buying into a fund a portion of your purchase is refunded along with a tax bill - taking taxes into consideration you are already at a loss.]]></description>
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<pubDate>Thu, 03 Jan 2008 23:19:54 GMT</pubDate>
<author><![CDATA[cleaningup3]]></author>
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<title><![CDATA[Drastic Price Drop]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=4&amp;mid=4&amp;tof=9&amp;off=1</link>
<description><![CDATA[My recollection is at this time of the year or right afdter New Year, the price of this fund drops a few points to balance out the dividend, but this drop is exceptionally severe.   Anyone out there might shed some light on the subject.   I've never seen a fund drop so severely in one shot.]]></description>
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<pubDate>Thu, 03 Jan 2008 23:19:54 GMT</pubDate>
<author><![CDATA[fitymi]]></author>
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<title><![CDATA[Re: why is this fund down?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=1&amp;mid=3&amp;tof=10&amp;off=1</link>
<description><![CDATA[I am curious. Being new to this stuff.   The capital gains drop looks like it was around 12 dollars.   If you get shares roughly equal to the drop how is that figured.   would that be roughly 12 shares for each 100 you own for instance or 12 for each 1000 you own?   12 for 1 sounds insane.   Can one of you experienced explain how this CAP GAIN works for us unexperienced people?]]></description>
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<pubDate>Mon, 09 Nov 2009 20:10:38 GMT</pubDate>
<author><![CDATA[iebfr14]]></author>
</item><item>
<title><![CDATA[Re: why is this fund down?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=1&amp;mid=2&amp;tof=11&amp;off=1</link>
<description><![CDATA[The reason for the drop is Capital Gains. If you own this mutual fund, you received additional shares as a dividend, roughly equivelent to the drop. Check your statement for this reinvestment information.]]></description>
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<pubDate>Wed, 07 Nov 2007 22:31:13 GMT</pubDate>
<author><![CDATA[TheKrazz]]></author>
</item><item>
<title><![CDATA[why is this fund down?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=29795&amp;tid=1&amp;mid=1&amp;tof=12&amp;off=1</link>
<description><![CDATA[I don't get it.   the market is doing well, yet this fund had a $10 drop over a day or so in Dec.   What gives?]]></description>
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<pubDate>Mon, 09 Nov 2009 20:10:38 GMT</pubDate>
<author><![CDATA[themole_1999]]></author>
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