MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, January 26, 2012 Sen. Levin Wants to Curb Mutual Funds' Commodities Exposure Senator Carl Levin wants the Internal Revenue Service to limit mutual funds' exposure to commodities because not doing so encourages speculation in oil and agricultural markets, Bloomberg reports. Levin has reportedly pushed for the IRS to stop a private rulemaking process, which lets funds use foreign corporations and other strategies to escape the tax implications of boosting commodity holdings above 10 percent of assets. “Those mutual funds in effect are allowed by the IRS to do indirectly what they cannot do directly,” Levin said at a news conference yesterday. Printed from: MFWire.com/story.asp?s=38939 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |