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I just got a notice that my company 401k is taking the liberty of moving my money from PSGIX at the end of this week and placing it into a similar one with lower fees. I didn't think much of it until I looked at my balance today and saw that the PSGIX fund took a whopping 31% hit on the day. What the heck happened? Its been a great fund but to lose 31% on a day when everything else seems to be doing well is weird. Any thoughts?
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Was it a distribution day?Originally posted by Goldy View Post
Edit: Yes, it was distribution day. So, that is what happened. See this: http://quotes.morningstar.com/fund/psgix/f?t=psgix and scroll down towards the bottom of the screen. See the heading "Dividend and Capital Gains Distributions"? It says that on 12/13/13, the fund paid a distribution $10.1029 per share. For every share you own, you will receive $10.1029. Since this is a 401k plan, your distribution will be re-invested, buying you additional shares.Last edited by Petunia 100; 12-16-2013, 11:19 AM. -
Whew, thanks for the insight. I wonder how long it will take for the distributions to hit my account. It was pretty rough to wake up and see the 401k value take that kind of a hit.Comment
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My guess is it will happen today, but you will not be able to login and see it until tomorrow.Originally posted by Goldy View PostComment
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