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OEICs.
Open ended investment companies were introduced into the UK in 1997, from Europe.
Open-ended means shares in the fund will be created as investors invest and cancelled as they cash in. Closed-ended funds like investment trusts have a fixed number of shares to be bought and sold.
OEICs have a structure somewhere between an investment trust and a unit trust.
A single price is quoted for OEIC shares, and a levy shows the cost of buying and selling the shares. This is shown on investment documentation along with the:
 gross amount invested;
initial charge;
net amount used to buy shares.
OEICs are intended as a medium to long term investment. Because this investment may go down in value as well as up, you may not get back the amount invested.
Please contact us for more information on Open Ended Investment
Companies.
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