When an investment undergoes a restructure or conversion (for example, MGF converting to MGOC on the ASX), Navexa records it using the Merger/Demerger tool.
This lets you enter the conversion date and ratio, so your portfolio reflects the new holding correctly.
Example: MGF converting to MGOC
Let’s look at a simplified example using the real conversion date.
On 24/07/2022, an investor buys 8,000 units of MGF at $1.25 per unit.
Cost base = $10,000.
On 22/07/2024, MGF is converted to MGOC at a ratio of 0.736.
The investor now receives 5,888 units of MGOC.
On the date of conversion, MGOC opens at $2.70 per unit.
Starting value = $15,897.60.
So, from purchase to conversion, the total increase in value is $5,897.60.
How Navexa shows this
MGF keeps its history. The $5,897.60 growth that occurred while you held MGF stays in that holding.
MGOC starts fresh. MGOC’s “story” begins on 24/07/2024 with 5,888 units at $2.70 each. From then on, Navexa tracks only MGOC’s gains and losses.
Why Navexa does this
If Navexa carried the $5,897.60 gain into MGOC as well, then both MGF and MGOC would show the same growth. That would double count your portfolio performance and make it look like MGOC achieved gains that actually happened while you were still holding MGF.
Some brokers show it this way, but the downside is it flattens history and hides what really happened before and after the restructure.
Navexa deliberately ties each investment’s performance to the period it existed, so you always have an accurate step-by-step record of your wealth.
What happens for tax reporting
Even though the $5,897.60 gain stays with MGF for performance purposes, your tax reporting remains correct:
The Merger/Demerger tool transfers the cost base from MGF into MGOC.
When you eventually sell MGOC, Navexa calculates the realised capital gain from your original MGF purchase all the way through to the MGOC sale.
So, performance reporting shows the history in two chapters, while tax reporting brings the story back together at the point of sale.
✅ Key takeaway: You are not losing or missing any gains. Navexa splits the performance across holdings for accuracy, while your CGT reporting always reflects the full journey.