PT  - JOURNAL ARTICLE
AU  - Bradley Katinas
TI  - The Compelling Case for ADRs
DP  - 2004 Sep 21
TA  - ETFs and Indexing
PG  - 90--93
VI  - 2004
IP  - 1
4099  - http://guides.pm-research.com/content/2004/1/90.short
4100  - http://guides.pm-research.com/content/2004/1/90.full
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.