swap fund การใช้

• The Swap Fund : a Tax Break Back From the Dead
• Also booming is a tax gimmick the government thought it had killed almost 30 years ago _ the swap fund.
• The drawbacks of these reborn swap funds : The taxes fall due if the fund participant sells out during his lifetime.
• The central bank early this year allocated the swap funds to brokerages, insurance and trust companies to invest in overseas securities.
• Domestic financial companies used $ 188 million of swap funds to invest in overseas securities during the third quarter, a central bank official said.
• Known also as an exchange fund or a diversification fund, a swap fund uses partnership tax breaks to help wealthy investors diversify their assets without paying capital-gains taxes.
• The central bank said a new measure allowing financial companies to invest in overseas stocks and bonds through the bank's swap funds was a reason for the surge in investment.
• In the last two years private swap funds from a number of major Wall Street institutions _ Bessemer Trust Cos .; Goldman, Sachs; Morgan Stanley and Smith Barney _ have squeezed through that loophole.
• An official at LG Securities Co . said his company and other financial companies actively used the swap funds because Korea's market interest rate, hovering at about 12 percent, is nearly twice that in the U . S.
• Weinberger, the congressman said, replied that the Bush administration " is not for or against swap funds, but we are against taxes on capital gains in general and so we will not take any action against the funds ."
• The Congressional Joint Committee on Taxation, without any supporting data, has written Neal to say that no revenues would be raised by closing exchange funds because " the class of investors engaging in swap funds " would find other ways to avoid the tax.
• The Eaton Vance mutual fund company in Boston and the Goldman Sachs investment house are by far the biggest operators of investment pools based on this tax avoidance technique, with at least $ 18 billion of stocks in what are known in the investment business as exchange funds or swap funds.
• Custom Diversified Fund Management, an investment adviser in San Francisco, has even created an entire family of swap funds, all aimed at people who " need to diversify their portfolios but would face severe tax consequences from selling even a portion of their shares, " as a private sales brochure puts it.