Financial Dictionary.
This is a browseable and searchable reference tool for terminology
relating to UK-based personal finance and financial products.
You can browse alphabetically, or search for a specific term.
OEIC (Open Ended Investment Company)
Definition: A type of collective investment fund, first introduced into the UK in 1997, but with a longer history in the rest of Europe. They combine features of both Unit Trusts and Investment Trusts. Like Unit Trusts, they are open-ended investment vehicles, but they do not have the bid / offer pricing structure associated with unit trusts. Instead there is a single pricing for the buying and selling of shares. Like Investment Trusts, they issue shares that are listed on the Stock Exchange, but when there is a demand for their shares, they can issue additional shares into the market. This means that the shares do not trade at a discount or premium.
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