Practical Applications of The Role of ETFs in Active Tax Management

Autor:	Tianchuan Li, Paul Bouchey, Jean L.P. Brunel
Rok vydání:	2017
Předmět:	Internal revenue Tax management business.industry Financial economics Institutional investor Principal (computer security) General Earth and Planetary Sciences Portfolio Accounting Business General Environmental Science
Zdroj:	Practical Applications. 4:1.11-4
ISSN:	2329-020X 2329-0196
Popis:	ETFs offer compelling advantages for investors who seek to systematically harvest tax losses, say Paul Bouchey and Tianchuan Li of Parametric Portfolio Associates in this interview with Institutional Investor Journals. With co-author Jean L.P. Brunel, managing principal of Brunel Associates and editor of The Journal of Wealth Management, they extended to ETFs their earlier research on the impact of systematic tax loss harvesting on multi-asset portfolios and derivatives. Using a portfolio of large-cap US stocks and their corresponding sector ETFs, the authors found that although single-security tax management proved more beneficial than a single-ETF or sector-focused-ETF strategy, “ETFs turned out to be almost as valuable a tool as a sophisticated stock-level strategy,“ according to Bouchey. They also happen to be uniquely suited to investors determined to avoid triggering the Internal Revenue Service9s “wash rule.”
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::e3c7c2a234df3698069234c2ecaa87b3 https://doi.org/10.3905/pa.2017.4.4.220 Zobrazit plný text záznamu