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Post by fred495 on Mar 20, 2021 14:52:11 GMT
There seems to be something strange going on with JASVX/JASSX at Fidelity. When I enter the fund symbol in their search box, I get the following message: "The Mutual Fund Symbol is Not Valid". I also can't buy any more shares in the the fund, it's not available for new investments, nor can I sell any fund shares. I'll have to call Fidelity on Monday to find out what is going on. In the meantime, if anyone has any information about the fund's status at Fidelity, please let me know. Thanks, Fred
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Post by Capital on Mar 20, 2021 15:08:14 GMT
fred495 , FYI I got the quotes for the funds when I entered them just a few moments ago at Fidelity.
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Post by fred495 on Mar 20, 2021 18:08:10 GMT
FYI, poster perrywinkle from the Armchairinvesting forum has provided this very helpful piece of information that will, hopefully, clarify the problem I encountered at Fidelity: "Some searching of SEC filings shows that there was a reorganization that takes effect Monday March 22, 2021 and as part of the restructuring CUSIPs change. See
From the announcement: Dear Valued Advisors & Partners, class changes that will take "We are pleased to announce that the James Alpha Funds have completed their reorganization into the newly formed James Alpha Funds Trust. This will become effective at the close of business on Friday, March 19, 2021. Even though each James Alpha Fund will continue to have the same investment objectives, investment strategies and risks as the funds had under the former trust (The Saratoga Advantage Trust), we would like to highlight some additional details: Reductions to the annual fund operating expenses for each fund Each fund will keep its current symbol, but there will be changes to existing CUSIPs and available share classes The following chart provides you with an overview of the CUSIP and share place for trading as of Monday, March 22, 2021:" |
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Post by fred495 on Mar 22, 2021 14:45:49 GMT
Spoke to a Fidelity representative this morning and was informed that for JASSX, for example, the share class will be changed today from "S" to "R6" , but the fund symbol will not change. He had no information as to whether or not the expense ratio will change for the new share class. Trading of the fund will resume tomorrow. Good luck, Fred
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Post by fred495 on Mar 23, 2021 20:02:36 GMT
Unfortunately, trading of JASSX at Fidelity did not resume today as promised. Apparently, Fidelity is awaiting data from the fund company regarding the re-organization. The Fidelity representative said he reached out to the fund company but was unable to find out when the necessary data will be submitted to them. In the meantime, trading can only be executed by a Fidelity representative. Not feeling comfortable living in uncertainty, I asked the representative to sell all my shares of the fund today. End of story.
Good luck,
Fred
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