LISTED PRODUCT NEWS
RBS FREE SEMINAR ON EUROPE TONIGHT
Europe has never been far from the headlines and the falls in European stock markets have garnered lots of interest from investors. RBS is holding another free seminar tonight where David Stevenson will be discussing why he feels that Europe and especially Euroland could be looking good value compared to its peers. The seminar will look at how you can use RBS’s listed products to profit from this opportunity. The seminar will run from 5.30pm to 7.30pm and will be held at RBS’s headquarters at 250 Bishopsgate. To register, email [email protected]
DB X-TRACKERS CLARIFIES TAX POSITION
There has been considerable uncertainty in recent weeks about the tax treatment of exchange-traded funds (ETFs). Deutsche Bank’s db x-trackers is the latest UK provider to clarify its position. On Tuesday it said that all its ETFs are managed such that they will be compliant with the HMRC requirements to meet the distributor status or reporting fund status. Consequently, any gains will be liable for capital gains tax at either 18 or 28 per cent. ETFs that do not fall into either of these categories will be taxed at the income tax rate of up to 50 per cent.
ADVISERS BRAVER ABOUT USING ETFS
Financial advisers are increasingly adventurous and are using ETFs to to access a broader range of asset classes, a survey conducted by iShares showed yesterday. Sixty per cent of advisers use ETFs to gain exposure to equity markets while a third gain exposure to fixed income and commodities markets. Three-quarters use them as a core element of their market exposure or for strategic asset allocation. But only 8 per cent currently use ETFs to provide leveraged exposure to markets, for short positions or to track alternative asset classes.