Deutsche gains distributing funds status for ETFs

  • Story by: Rob Langston
  • Magazine: InvestmentAdviser
  • Published Monday , October 06, 2008

Deutsche Bank’s ETF platform, db x-trackers, has been granted distribution rights by the HM Revenue & Customs.

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The status, granted from 1 January to 31 December 2007, means db x-trackers will be able to sell all equity and commodity ETFs available from the platform during 2007.

Manooj Mistry, head of db x-trackers, said: "Distributing fund status is paramount for many of our clients in the UK and we are pleased to offer them the reassurance that comes with achieving this certification."

Mistry added: "Additionally, the status now makes our ETF range more appealing to fee-based IFAs and portfolio managers who offer our products to clients as part of a tax efficient portfolio."

Db x-trackers new status means the funds are now eligible for capital gains tax of 18 per cent for individual investors or 28 per cent for corporate investors under corporation tax rules.

However, UK-authorised investment funds and investment trusts will be exempt from the 28 per cent tax.

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