There was a very noticeable drop in the various Managed portfolios yesterday. This was totally unexplained by either USAA or by any movement in any of the markets. What is going on? Why did USAA not post an answer to the first questioner who raised this?
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Many mutual funds (including the USAA Mutual Funds and other funds held in USAA Managed Accounts) pay their annual capital gains distributions in early December. Such distributions will be reinvested back into their respective mutual fund holdings. Although fund price adjustments will result from capital gains distributions, the underlying value of each mutual fund position will remain unchanged after the reinvestment process settles (usually one business day). The associated credits to your account will be reflected in your online activity and be reflected in your monthly account statement.
Here are the Direct links to two of the PDF documents:
The drop came as a complete shock, especially when record highs were reached in yesterday's markets. Has this anything to do with the change in companies responsible for our investments? Not a happy camper today!