U.S. Treasury: Trump Accounts Limited to Equity Funds Tracking Indices and U.S. Companies
The U.S. Treasury Department announced new regulatory details on Thursday, clarifying the investment requirements for the 'Trump Accounts' established under last year's tax reform legislation. Funds in these accounts are restricted to equity funds that track indices and heavily invest in U.S. companies, with a cap on fund investment fees set at 0.1% of account assets. The new regulations prohibit the entry of ESG-themed funds, categorizing them as sector funds not permitted under the regulations. Fees for account services charged by custodians are not subject to the fee cap, and the Treasury is soliciting public input to assess whether to limit or eliminate such fees. Additionally, the government is seeking proposals to explore pathways for allowing the transfer of appreciated stock donations into the accounts.
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Overseas capital is aggressively buying US stocks! Net inflows reached $942 billions over the past 12 months, marking a record since 1985.
According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.
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