TD Waterhouse offers US, Europe access

TD Waterhouse now enables low-cost managed-fund access to European and US assets and acts as the Australian agent for seven TD Waterhouse US funds which will have the same tax treatment as Australian domiciled funds.

Investors can buy into the funds in Australian dollars via TD Waterhouse's website by requesting a prospectus. TD Waterhouse will manage the currency conversion and more importantly to note is that the funds are unhedged. If the Australian dollar is to rise from its historical lows then this will eat into returns from unhedged foreign currency denominated funds.