Mutual fund prices precision

[Liz]

On Tue, 04 Aug 2015 09:11:58 -0400
Derek Atkins <warlord at MIT.EDU> wrote:

> If the basis information is incorrect then this implies that someone
> is rounding the price differently..

I recall one particular banking fraud (possibly in AU) which was as
simple as rounding down 0.5 instead of rounding up, and passing the
accumulated wealth to a single account. Not enough for any single
person to notice for a while, so the fraud netted plenty of money.

A search through snopes forum found one mention of one in 1973, and
some movie plots based on the idea "salami slicing" or a variant,
"penny shaving".

Seriously, AC, I would check exactly how your broker is rounding your
account. Check until you have their exact formula, and it corresponds.

Further up in this thread, Derek said

> Because there is no such thing as $0.001 so by definition you cannot
> denote something in a non-existing currency denomination. 

I did notice that you had fractions of shares. I only own whole shares
where I own shares, and the dividend reinvestment scheme has a small
credit in it until the balance is big enough to buy a whole share. 
AC, how do you own a fraction of a share?