U.S. persons are restricted from investing in global funds. The complete list of products they are restricted from is shown below:
What qualifies as a U.S. person?
- A U.S. citizen
- Any natural person resident in the United States;
- Any partnership or corporation organized or incorporated under the laws of the United States;
- Any estate of which any executor or administrator is a U.S. person:
- Any trust of which any trustee is a U.S. person;
- Any agency or branch of a foreign entity located in the U.S.;
- Any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person
- Any partnership or corporation if (i) organized or incorporated under the laws of any foreign jurisdiction; and (ii) formed by a U.S. person principally for the purpose of investing in securities not registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), unless it is organized or incorporated, and owned by accredited investors (as defined in Rule 501 (a) of the Securities Act) who are not natural persons, estates or trusts.
Why are U.S. persons not allowed to invest in global funds?
U.S. persons/residents are subject to the requirements of the US Securities and Exchange Commission and the Internal Revenue Service on investments outside the U.S.
Due to this, the fund providers have restricted U.S. persons as an owner of a fund.
What if I’m a dual citizen?
Dual citizens that qualify as U.S. persons/residents are subject to the same rules and restrictions from investing in global funds.
How do I sell my investments in the feeder funds?
For instructions on how to place a sell order, visit “How do I place a sell order for a fund?”.