OEICs get the cold shoulder
Article Abstract:
Open-ended investment companies (OEICs) were permitted in the United Kingdom from Jan 1997, and were though to offer advantages for managers and investors, but the response has been cool. Launches have been canceled or delayed, with only four groups entering this field, and many waiting to see how the market develops. Some issues such as the tax treatment of OEICs were not clarified until after Jan 1997. Companies have two years to convert units trusts into the new vehicle and not have to pay stamp duty. This deadline will prompt some conversions.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Keeping Pep expenses to a minimum
Article Abstract:
UK personal equity plans (Peps) can provide tax advantages but they also involve costs. Investors in self-select plans have to pay charges although they are making decisions on which investments to buy. The UK tax authorities only allow approved managers to administer Peps. Charges vary and are made in a variety of ways. Annual charges may be low but charges may be levied on reclaiming tax or collecting dividends. Dealing charges also add to the cost.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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