Managed funds are a popular investment vehicle in which you control where you want to invest and how much money you invest, but the underlying equities are chosen and managed by a professional to whom you entrust your money. A managed fund has a benefit because a small investment can give you large exposure to various different types of equities, without having to spend the time looking for what suits your situation and what is the best stock on the market.
To set up your Managed Fund Investments in Mclowd and enter opening balances of holdings, go to INVESTMENTS on the Fund Setup menu.
Mclowd will display this screen:
Click ADD NEW OPENING BALANCE.
Select the Account.
Mclowd now displays:
In the Holding drop down, select
- Create a New Holding|New Holding and New Parcel (if you are adding both a holding and units)
- Create a New Holding|New Holding Only (to enter just a stock code with no units)
Either enter the Investment Code for this Managed Fund, or the Fund Name. If you choose to enter the Fund Name, as you begin to type Mclowd will provide a drop-down selection list. Select the correct Fund. The full Asset Name and Investment Code will appear in the Asset Name field.
NOTE: If you have made multiple purchases of Units in the same Managed Fund at different times over the period prior to beginning to use Mclowd, you should enter each purchase separately, specifying the date of that purchase, number of units and cost.
Once you have entered the first purchase of units, the Code and Fund Name will appear in the Holding drop-down. Select that holding to enter a subsequent purchase of additional units.
Enter your Holder Number.
In the Managed Funds section, enter the date you purchased units in this fund and the total cost of units (*this is the total amount invested, not the unit price). In the Volume field, enter the number of units purchased.
Click SAVE ASSET or SAVE & ADD ANOTHER if you have more Investments to add.
Click SAVE ASSET to go back to INVESTMENTS on the FUND SETUP menu and view a list of your Fund’s assets.