Hi,
I have a lunp sum in USD currently sitting in a USD account with a UK bank. I would like to invest some of this money into a US index tracker. Who in the UK can handle this for me? A friend sugested E*Trade but they only seem to allow investment in individual stocks rather than an index. I want to avoid FXing the money into GBP.
Thanks Andy
Ameritrade will let you buy mutual funds, so you just need to find one that tracks the index you want. AFAICR you can open an account by sending them a cheque, there might be an extra charge & delay because its drawn on a UK bank but I'd have thought the money would remain in US$ on its travels there (Otherwise not much point you having a $ account is there :-).
What you need is a fund denominated in US Dollars, which will probably be an offshore fund, and so not regulated. They are around. Have you tried Google, for "US$ denominated funds"? I'm off-line right now, otherwise would have done.
Further to that, the last entry on Google's first page is for a range of Scottish Widow's funds, denominated in either GBP or USD.
Thanks Terry, I probably won't be able to take a look until later today - I did not see Scottish Widows on the list when I did the google search but did see another couple including the likes of Citigroup. I can find the url for Scottish Widows anyway through google.
Andy
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