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Progressive Return Fund (PGF) Message Board

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  • ltbhdollars ltbhdollars Sep 23, 2004 9:50 AM Flag

    Capt and Jerry: IAF??


    Thx a bunch, I had missed that and it is of more importance than the with holding issue. My Canadian trusts are already bad enough, as it is I bearly made the Aug 15 extension deadline the last two years and certainly do not wish to get into a longer duration extension.

    I agree, not worth the complications and since I am not a trader it will be a complete pass for me. Shame since I really would like an Aussie holding and FAX never made my list due to my perceptions of that funds past history of screwups. might want to rephrase your inquiry to your broker: 1) Is there any Aussie with holding on IAF distributions? AND 2) Is IAF a DTC qualified stock? If its a non DTC stock, ask your broker if they can change to DTC for IAF (I had a Cdn Trust that Ameritrade was able to change from Cannaccord to DTC which eliminated with holding in IRA).

    Non DTC stocks ofen have various distribution and/or with holding issues, such as: with holding 25% instead of 15%, consistantly paying broker late, with holding in IRAs/Roths, payment restatements etc etc.


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    • I'm sorry but I'm just looking into Canroys. What does DTC mean?

      • 1 Reply to ferd_burfell69
      • Answer from a simple google:


        The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, over-the-counter credit derivatives and emerging market debt trades. DTCC's depository also provides custody and asset servicing for more than two million securities issues from the United States and 100 other countries and territories. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC has operating facilities in multiple locations in the United States and overseas.

        The Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The depository brings efficiency to the securities industry by retaining custody of some 2 million securities issues, effectively �dematerializing� most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in custody.


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