Fidelity gets Oeic blessing

Article Abstract:

Fidelity will convert 20 unit trusts into sub-funds of an open-ended investment company (Oeic) in Aug 1998. The move was approved at a general meeting. Edinburgh Fund Managers has received permission to carry out a similar conversion with three unit trusts, with the United Kingdom Financial Services Authority giving its approval. Oeics have a simpler price structure, though the price structure of unit trusts may also be simplified. Oeics may offer lower costs due to economies of scale.

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OEICS offer industry more than investors

Article Abstract:

The UK Securities and Investments Board has issued regulations for open-ended investment companies (Oeics) which are expected to be launched from Easter 1997. Oeics have quoted shares, as do investment trusts, and they do not have a specified number of shares, as is the case with unit trusts. Share value depends on the investments held by the Oeic. Oeics benefit the industry since they can be more easily marketed in Europe, but they may not bring major benefits to investors.

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Bread and butter for small investors

Article Abstract:

International general investment trusts can provide long-term capital growth. They may not provide sharp gains over the short term, but they are also less likely to suffer serious losses, since their managers tend be risk-averse, and assets are globally diversified. These trusts have been affected by the high value of pound sterling. Their costs are low, and discounts have tended to be narrow. Foreign and Colonial, Scottish Eastern and Witan are among the better trusts.

Personal finance

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