ADR

ADRs (American Depositary Receipts) allow US investors to get exposure to shares in foreign companies without the hassle of owning shares denominated in a foreign currency.

They are created when a depository bank, such as JP Morgan, buys foreign shares and then issues separate dollar-denominated ADRs to US investors. These can be subsequently traded in the US market just like the shares themselves.

The attraction of ADRs is that holding them confers all the usual benefits of share ownership such as dividends and voting rights, but without the need to deal directly on overseas markets or in foreign currencies.

Paul Hodges: house prices could fall 50% in 'Great Unwinding'

Merryn Somerset Webb interviews Paul Hodges about deflation, the global economy's 'Great Unwinding', and how Britain's house prices could halve.


Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.


26 January 1808: Australia's Rum Rebellion

On this day in 1808, Major George Johnson carried out the only forceful takeover of power in Australian history during the Rum Rebellion.