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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: vibaby who wrote (4486)11/4/1996 11:09:00 AM
From: vinod Khurana   of 42771
 
Hi Vibaby,

Yes, I am here in TO, Canada.

Regarding investing in U.S mutual funds by non-U.S residents, there are a number of funds that invest strictly in U.S companies set up by the local Canadian banks but managed by the large U.S funds in return for a fee (sort of like a loophole). However, I have found out that US resident or not, one can invest in U.S mutual funds directly....just that capital gains are not treated equally for foreigners as they are for U.S residents. Same applies to real estate held by foreigners and stocks bought directly thru a U.S dealer and held by the firm.

Regarding my investment with T. Rowe Price, it is actually a new issue offered by TD Bank and that will be managed by T. Rowe Price. It mimics the T. Rowe Health fund ($85 million in assets) so TD is using the past results of the Rowe fund to bolster sales (I believe the Rowe fund has averaged about 16% for the last 10 years).

You can obtain the 1-800 number to find out if TD will let you invest in their natural resource funds by linking to:
tdbank.ca
and calling the number. I am sure there exists a loophole for those who do not file Canadian tax as there exists a treaty between the two countries.

I hope you are a dual citizen for then it will be really easy for you to invest here and not worry about loopholes.

V.K
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