Hi Danny,Re your question about the difficulty of selling small...

Hi Danny,

Re your question about the difficulty of selling small holdings of BIP: The broker I deal through has arrangements for trading stocks on NYSE. It is simply a matter of leaving an order overnight. Their "correspondent" broker purchases the AUD after USD settlement, for repatriation. This sort of business is common.

The economics of this approach may depend on what you mean by "small". Size will affect brokerage, and the spread on the FX transaction. After those, $4.55 might look alright. I can't comment without knowing the volume you have in mind.

Good luck.