What are the tax ramifications investing in your managed accounts?
U.S. investors cannot invest in the ENR Bullet Portfolio because offshore funds – which are a main component in the Bullet program – might be onerously taxed by the IRS. U.S. tax laws enacted in the late 1990s might effectively tax unrealized offshore fund gains as interest income and might require you to pay income taxes on those unrealized gains from a separate source of income. Therefore, the only managed accounts we offer to Americans are the ENR Precious Metals Portfolio, the ENR Permanent Portfolio, ENR Best Ideas Portfolio and ENR Food & Agriculture Portfolio. These investments are tax-friendly for U.S. investors and are taxed pari pasu as domestic assets in the United States.
THE ENCLOSED DOCUMENTS SHOULD BE CAREFULLY REVIEWED BY PROSPECTIVE INVESTORS. THE FOLLOWING INFORMATION IS NOT AN OFFER TO PURCHASE OR SELL ANY SECURITIES. IT IS A PRESENTATION ONLY. REGISTERED AS AN INVESTMENT ADVISER WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.
