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Article: Live here, invest abroad: American depository receipts offer little fuss and big returns.
- Article from:
- U.S. News & World Report
- Article date:
- April 4, 1994
- Author:
CopyrightCOPYRIGHT 1994 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Global consumers, global investors. Americans' appetite for products from abroad only begins with French champagne, Swiss chocolate and Japanese televisions. American investors are flocking to buy stock in the foreign corporations that make such goods--and not only through the already well-publicized route of mutual funds. They are purchasing shares of individual companies in the form of American depositary receipts, or ADRs.
ADRs of about 1,300 foreign firms trade on U.S. stock markets, with one ADR certificate equaling a given number of shares of stock. In 1993, total ADR trading volume on the New York and American exchanges and Nasdaq topped $200 billion, up ...