Thursday, October 05, 2017
TFS Capital Closes Its Mutual Funds
I was surprised to hear that TFS Capital is closing its three mutual funds. I have about USD 14k invested in the TFS Market Neutral Fund. I think they will send me a check with the proceeds. Following Interactive Brokers transferring my account to their new Australian subsidiary, this will be another step in reducing my financial footprint in the US. I still have a couple of bank accounts and a 403b fund there. I'm not planning on closing the latter and will also try to hang onto the bank accounts.
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2 comments:
What is the reason to hang on the shrinking US footprint? Is it sentimental value?
Diversification for security reasons. I feel nervous having all my assets in one country's jurisdiction. It's not possible/easy to open a US bank account as a tourist. At the moment Australia is an OK place to hold assets but who knows what the future holds. My perspective on this is heavily influenced by our family history. My father was a refugee. My mother holds most of her assets outside the country she is living in. Now I have the vast majority of my assets in country, but it does make me nervous.
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