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db x-trackers achieves distributing fund status for 63 ETFs


db x-trackers, Deutsche Bank’s exchange-traded funds platform, has been granted distributing fund status by HM Revenue & Customs for the accounting period 1 January 2008 to 31 December 2008.

The status has been granted to equity, commodity, foreign exchange and shariah-compliant ETFs available from db x-trackers during 2008 and includes 63 ETFs listed on the LSE.
Distribution funds status means that any gains made on the disposal of the ETFs would be regarded as a capital gain for UK individuals or a chargeable gain for UK corporates if the shares are certified as distributing funds throughout the investor’s entire period of ownership. The current rate of capital gains tax is 18 per cent for UK individuals.

UK corporates will be subject to corporation tax on the chargeable gain at a rate of up to 28 per cent, whilst UK authorised investment funds and investment trusts will be exempt from tax on the chargeable gain.

Manooj Mistry (pictured), head of db x-trackers UK, says: “We are delighted to have been granted distributing fund status again for the db x-trackers ETFs. This is really good news for UK investors and means the db x-trackers range is even better value for those looking to add tax-efficient investments for their portfolio.

“The number of db x-trackers funds approved this year is nearly double that of this time last year, highlighting our strength as the fastest growing ETF provider in the European market. Our products are delivering increasing benefit to all investors and this certification augments our superior index tracking and low total expense ratios.”

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