The UK’s HM Revenue & Customs (HMRC) has granted Brown Advisory approval to launch its range of US mutual funds in the UK, according to Fundweb.
HMRC has approved the funds on 1 July 2013.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Through this move, US expats who are UK tax residents will be able to invest in Brown’s mutual funds without interfering with US passive foreign investment rules.
Brown is currently developing its investments for UK-domiciled US expats, the publication said.
Brown Advisory head of UK private clients said: "This gives US expats the opportunity to invest in our funds without falling foul of the US PFIC rules whilst also being able to benefit from the funds UK reporting fund status – a key consideration for UK taxpayers."
On 20 August 2013, Brown Advisory has introduced a new service to support US expats living in the UK.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
