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My financial planner claims that it is "almost impossible" for me as an individual investor to properly calculate the capital gains on funds (of certain kinds) because of the transactions made by the fund during the year which may have had capital gains yet the fund could have lost money from the beginning to the end of the year. Don't the funds have to send each investor a report which outlines all of that for their taxes ?

I'm not sure what the two of you are talking about, but I'm pretty sure it's not the same thing. As a mutual fund shareholder you get information about the overall performance of the fund, but not about individual trades that the fund made during the year. However, you still have enough information to compare the fund's performance against whatever yeardstick you choose.

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