Barclays offering two fund pooling vehicles

Barclays Global Investors is offering two pension fund pooling vehicles (PFPVs) to give institutiona...

Barclays Global Investors is offering two pension fund pooling vehicles (PFPVs) to give institutional investors access to pooled investments in US equities. The two funds are the Aquila US Equity PFPV and the Ascent US Equity PFPV, which offer indexed and quantitative active equity exposure respectively. They are designed to be treated by the UK and US authorities as tax transparent for exempt-approved pension schemes, making them eligible for full tax relief on US dividend income. Historically, pension schemes have paid withholding tax on US equities at 15%. When the UK/US Tax Treaty...