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I'm a Swiss living in the US. Given the pace at which
the US dollar drops with respect to currencies such as
CHF or EUR, I would like to invest my spare cash in a
Swiss or EU mutual fund. I was considering Swissca
mutual funds (marketed by the Swiss cantonal banks).
Unfortunately, a few days ago a legal warning appeared
on their website www.swissca.ch, saying that they
cannot sell shares to residents of the US. I have
checked out a German mutual fund company (Activest) as
well, and they have the same restriction.
Does anyone on this list know whether some new law
entered into effect on January 1st 2004, keeping
non-US mutual funds from selling to US residents? If
so, do you know whether all non-US funds are impacted
or whether some of them are exempt?
Happy new year,
Swiss-list mailing list
Received on Tue Jan 06 2004 - 12:16:32 PST