Question for Canadians

[Sam Mcgee]

Does anyone know if there are any funds available in Canada that you can use to simulate short selling? In the U.S. they can use Rydex or Profund mutual funds in their IRA's. Some of these funds such as USPIX or URPIX are set up to move inverse to the market. Does anyone know if there's a broker in Canada that has these funds available?

Has anyone heard of an inverse or short fund of any kind in Canada that follows the Canadian markets?

 

[North Pesos]

RYDEX funds is available with Caisse Desjardins and Jitney Online Groups, maybe eTrade Canada, and you can use it inside your RRSP (with the limitation of 30% for non Canadian product indise your RRSP).

For a similar product on the TSE60, I don't think we have it, because for do it and to be authorized inside a RRSP, you have to do things that don't conform at CCRA rules for RRSP (e.g. use PUT or SHORT), but the paradox is that RYDEX are accepted by them, silly but true!