Advance Developing Markets - Moving Offshore
By JANE KOTCHKINA 09/11/2009
On the 9th November 2009 Progressive announced that Advance Developing Markets (ADD) trust will be moving offshore and therefore re-listing on the London Stock Exchange on 10th November 2009 as a Guernsey Domiciled Company. The move offshore, according to Progressive, is due to the unfavourable tax treatment that a UK domiciled company is subject to if invested in some open ended offshore funds. They believe the move will allow greater flexibility in investing in countries where the selection of closed ended funds is insufficient.
Market latest
|
Index
|
Points
|
+/-
|
| FTSE 100 |
5907.12 |
0.29%
|
| FTSE 250 |
11197.00 |
0.03%
|
| FTSE All Share |
3049.08 |
0.25%
|
| FTSE Euro 100 |
2253.59 |
0.59%
|
| S&P 500 |
1347.05 |
0.20%
|
| Nasdaq |
2904.08 |
0.07%
|
| Hang Seng |
20699.19 |
0.05%
|
| Nikkei 225 |
9015.59 |
1.10%
|
Values delayed by at least 15 minutes.
Source: Financial Express