RT Journal Article
SR Electronic
T1 The Compelling Case for ADRs
JF ETFs and Indexing
FD Institutional Investor Journals
SP 90
OP 93
VO 2004
IS 1
A1 Bradley Katinas
YR 2004
UL http://guides.pm-research.com/content/2004/1/90.abstract
AB The American Depositary Receipt (ADR) security, developed nearly 80 years ago, remains a growing and efficient vehicle for U.S. investors to gain exposure to international equities. While the mechanics of cross-border investment flows can be often costly and complex, ADRs offer investors a convenient avenue for gaining exposure to a universe of 2,100 international issuers from more that 80 countries. Recent developments such as ADR-specific indexes and ADR-ordinary share cross-books are seen as contributing to ADR liquidity.