General Advice & BN/BAM Spinoff help

Managing trading & investments
1

Hello,
I have several questions. I have had Sharesight for <1 yr and while I find the program to be helpful…it seems quite cumbersome with email trades not working, corporate actions are hard to understand how to represent, having to go in individually to dividends to confirm correct amount…and add taxes deducted which are not automatically calculated. It seems to create more work than actually streamline the process.

Looking for any tips to help use this program, as I am considering ending my subscription early.

One specific recent challenge:

  1. I have held Brookfield Asset Management (BAM). They changed name to Brookfield Corp. and spinoff the asset managment business recently under the original name BAM. BN now owns 75% of BAM. I received shares of BAM (I believe it was 0.25 BAM for every 1 share BN originally held). I have no clue how to represent this in Sharesight the correct way.

  2. The rounding the M1 Finance (where I import email trades from) and Sharesight rounding seem to make mismatches over time in the amount of share actually held in M1 versus what shows on Sharesight. This causes dividends to be off by a very slight amount in some cases. Any work arounds for this?

1 Like
2

Hi, I have the same issue. I originally purchased stock in BPYU.NASDAQ

They then spun off through 4 different entities on the same day as you have found out. BPYU–>BPYM—>BN and BAM

Nightmare trying to get it all to match. I use Stake and their imports not the best. I have pinged support and will let you know how this goes. I only have one outstanding txn that doesnt match and that is a sell on BYPU that didnt have a buy at the begginning (which would have been one of the spin offs)

3

any luck on this? I still just left it in my portfolio all wrong.

4

Hi there,
The cost base calculation ratio are different for the instruments listed on NYSE and TSE. Could you please confirm if your BAM holding is listed on NYSE or TSE?
You can also reach out to us via support@sharesight.co.nz.

Thanks

5

It is listed on the NYSE

6

Please follow the steps below to handle the Brookfield spinoff

– Add Adjust cost base trade in holding page (The holding page will be BN.NYSE)

– Enter allocation ratio in demerger calculator 100:25 {the ratio is 88:12 for TSE}

– Select Add a new holding (BAM.NYSE)

– Search & add holding as Opening balance trade

– Total cost base = Adjust cost base

Example: A spin-off B. Allocation ratio 70:30. For every dollar invested in A, 30 cents get allocated to B. $1,000 invested in A, adjust cost base will be -$300, opening balance cost base for B will be $300.

7

What should the date be?

8

In fact…I am very confused. I sent a message to support via my account. I sold BAM shortly after in spunoff. So its showing a negative for some reason.