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Latest News

Funds

• BNP China JV plans first mainland-HK fund
• ICG refocuses on fund management
• Guggenheim ups long/short exposure

Markets

• Korea Life rises after $1.6bn share sale
• Fed statement eases traders’ worries
• Deutsche Bahn bid talk drives Arriva higher

Personal Finance

• Bank customers to get overdraft opt-out option
• New rights for credit card holders
• House price growth slows

Stocks and Shares

• China's latest worry: a local-debt mess
• Sarkozy faces reform setback after midterm vote
• Australian cities must transform for population growth

OEICs

What is an OEIC?

• Open-ended investment companies are often referred to as the modern day and flexible equivalent of the unit trust. They combine the elements of unit trusts and Investment trusts enabling you to pool your investments along with other investors. This helps to spread the risk and enables you to take advantage of the skills of a professional managing the fund.
  
  
• OEICS are regulated by the FSA. The rules are based on specifically written company law, whereas unit trusts are based on old trust law.
  
  
• OEICS have a single price for buyers and sellers and the charges are shown separately. A unit trust has a separate buying and selling price (bid/offer spread).
  
  
• The OEIC share price directly reflects the underlying assets of the portfolio
  
  
• An umbrella fund structure, which means that there are different classes of share. Each sub share fund can be invested in a different area if required.