Transcription of Understanding the Tax Implications of Exchange-Traded Funds
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Understanding the Tax Implications of Exchange-Traded Funds 11/21/2003 1 Forward Barclays Global Investors Canada Limited (Barclays Canada) is pleased to present " Understanding the Tax Implications of Exchange-Traded Funds ", a memorandum prepared by PricewaterhouseCoopers LLP. A key component of the Exchange-Traded fund (ETF) advantage is tax efficiency. Our goal with this memorandum is to provide Canadian individuals and institutions with a useful reference material regarding the taxation of ETFs, from an authoritative source, and to highlight the potential tax efficiencies that ETFs may offer. We hope the reader will find this memorandum to be a useful tool in making the most of his or her investment in ETFs. Barclays Canada is an indirect subsidiary of Barclays PLC and part of BGI, one of the largest institutional investment managers in the world and the largest manager of index Funds . BGI leads the world in ETFs by a large margin, with Funds covering a complete range of asset classes.
Executive Summary Exchange-traded funds (ETFs), for purposes of this article, are funds that track or replicate a specific index and are listed and traded on major U.S. and Canadian stock exchanges just
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