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In the UK OEICs are the preferred legal form of new open-ended investment over the older unit trust. As an open-ended company the manager must create shares when money is invested and redeem shares as requested by shareholders.
Oeics are open-ended investments, which means that investors can freely buy and sell shares in the fund, which then grows or shrinks accordingly. It means the value of the shares you own in an Oeic, or units in a unit trust, always reflects the value of the fund's assets.
An OEIC's investors own shares in the company rather than units as in a unit trust. The shareholders have the right to sell their shares back to the OEIC on any dealing day when trading has not been suspended.
The value of investments and income from them can fluctuate (this may partially be the result of exchange rate fluctuations), and investors might not get back the full amount invested. Past performance is not a guide to future performance.
Ginny is friendly and always very efficient, always brings my investment portfolio with her when she visits. She is a good listener and provides the information I need without trying to steer me to other products and services I do not require.