Wall Street Offshore featured in Forbes Global Cover Story, Made for the Web
New York, 23 August, 1999 - by Heidi Brown, Forbes Global
As excerpted ... The Internet would seem to be the perfect medium in which to buy
and sell offshore mutual funds. Fund management companies wouldn''t need to set
up sales forces country by country. And individual investors would have a wider
universe of offshore funds to choose from, with information delivered quicker and
cheaper. In short, a digital supermarket for mutual funds.
"The Internet creates a level playing field for the investor," says Todd
Everts, cofounder of Wall Street Offshore, the only company that specializes in
selling offshore funds over the Internet. Wall Street Offshore offers investors
500 offshore funds from 30 fund families, including those of Putnam and Fidelity.
The Web site charges a flat 2.5% sales charge (if you were to buy directly from
the funds themselves, they would charge up to 6.25%).
Wall Street Offshore shares the sales charge with the fund. The service is based
in Rochester, New York, but will move to Manhattan in three months to coincide with
the launch of a redesigned site and a suite of new services...
Click here to read the full Story.