The Case for Investing in Depositary Receipts
U.S. investor demand for international equities has been growing 20 percent annually. This demand is driven in large part by the increasing desire of individual and institutional investors to diversify their portfolios, reduce risk, and invest globally in the most efficient manner. Many of these investors typically do not, or cannot for various reasons, invest outside of the U.S. or in non-U.S. dollar denominated securities. As a result, Depositary Receipts are utilized as a means of global diversification within an investor's portfolio. To help investors and other interested parties understand the advantages of investing in Depositary Receipts, The Bank of New York has published The Global Equity Investment Guide.

The Global Equity Investment Guide is provided in PDF format and can be viewed using Adobe Acrobat Reader software.

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