- T-SWP Class U.S. dollar service available from Fidelity Investments
TORONTO, June 4 /CNW/ - A pioneer in offering Canadian investors
innovative, tax-efficient investment solutions, Fidelity Investments Canada
ULC today announced another industry first with the launch of the Fidelity
T-SWP(TM) Class U.S. dollar service. Investors using this service receive
tax-efficient monthly cash flow from their non-registered investments directly
to their U.S. dollar accounts at their Canadian financial institutions.
Fidelity's T-SWP services allow investors to draw regular monthly
tax-efficient payments from their non-registered investments. Until now,
Canadians who vacation, travel for business or shop regularly in the U.S. have
either used a U.S. dollar bank account or purchased U.S. dollars to pay for
their bills, expenses and other costs while in the U.S. While convenient, both
of these options have their limitations including low interest rates and high
marginal tax rates on any interest earned in the accounts and potentially high
currency exchange fees. Fidelity's new T-SWP Class U.S. dollar service
addresses these drawbacks and gives investors the opportunity to participate
in the growth potential of the markets while easily providing them with
monthly cash flow in U.S. dollars.
"Fidelity's new T-SWP Class U.S. dollar service is a great option for the
millions of Canadian snowbirds, business travelers and shoppers that travel
to, or spend time in the U.S and that regularly need U.S. dollars. Canadians
can now pay for their vacations, gifts and business travel in U.S. dollars
with tax-efficient monthly cash flow," said Darren Farkas, vice president,
Fidelity Investments Canada ULC.
This new service will also be of interest to the thousands of Canadians
who regularly shop online with U.S retailers. By utilizing the new service and
paying in U.S. dollars from their U.S. dollar bank accounts, shoppers can
achieve significant savings by avoiding the currency conversion rates some
credit cards and other e-payment options charge to shoppers outside of the
Fidelity's tax-smart services
Fidelity offers numerous tax-smart services for Canadian investors to
meet their varied needs, including Fidelity T-SWP(TM), Fidelity Capital
Structure Corporation and Fidelity T-SWP(TM) Class. Fidelity's T-SWP service
allows investors to draw regular monthly tax-efficient payments from their
non-registered investments. Within the Fidelity Capital Structure Corporation,
Fidelity offers investors the ability to move from one class to another
without triggering immediate capital gains.
Combining the benefits of T-SWP and Fidelity Capital Structure, Fidelity
T-SWP(TM) Class gives investors tax-deferred cash flow and tax-deferred
investment growth in a unified solution. Fidelity's new T-SWP(TM) Class U.S.
dollar service is now available on nine classes, including Fidelity's popular
managed solution, Fidelity Managed Portfolios.
"Fidelity introduced its award-winning Fidelity Tax Smart Withdrawal
Program(TM) (Fidelity T-SWP(TM)) in 2002 and is the clear market leader in
mutual fund 'return of capital' services as measured by investor preference,
market share, and brand awareness," said Farkas. "This new service will extend
Fidelity's leadership in offering innovative tax solutions for Canadian
Fidelity is also expanding the T-SWP Class program, launched in
January 2008, to now include Fidelity Global Disciplined Equity(R) Class, part
of Fidelity's top-performing Disciplined Equity series of funds. With the
addition of this new offering, Fidelity T-SWP Class is now available on
20 investment options, each with a choice of 5% or 8% payout rates.
Additional enhancements to Fidelity Capital Structure Corp.
Along with Fidelity T-SWP(TM) Class U.S. dollars, Fidelity is adding more
U.S. dollar investment options to Fidelity Capital Structure Corp. A new U.S.
dollar option is being added on nine classes and all six portfolios in
Fidelity Managed Portfolios. Two new Canadian dollar classes are being added
to Fidelity Capital Structure: Fidelity Special Situations Class and Fidelity
Emerging Markets Class.
To expand choices for fee-based advisors looking for tax-efficient
cash-flow solutions, a Series F option is now available on Fidelity Canadian
Asset Allocation T-SWP Class and Fidelity Canadian Balanced T-SWP Class.
About Fidelity Investments
Fidelity Investments Canada ULC is the country's seventh largest mutual
fund company and part of the Fidelity Investments organization of Boston, one
of the world's largest providers of financial services. In Canada, Fidelity
manages a total of $49 billion in mutual fund and corporate pension plan
assets. It offers Canadian investors a full range of domestic, international
and income oriented mutual funds. Fidelity funds are available through a
number of advice-based distribution channels including financial planners,
investment dealers, banks, and insurance companies. Fidelity Investments also
administers defined contribution plans and manages defined benefit assets on
behalf of corporate clients across Canada. Fidelity is a proud supporter of
the Boys and Girls Clubs of Canada and is dedicated to helping young Canadians
realize their full potential as productive, responsible and caring citizens.
For further information:
For further information: Chris Pepper, Director, Media Relations,
Office: (416) 307-5388, Mobile: (416) 795-7762, Email: firstname.lastname@example.org