A new investment is born
Article Abstract:
The open-ended investment company (Oeic), a managed fund which is to become available in the UK shortly, is expected to have a significant impact on the price war which is currently taking place in the unit trust and Pep business. An Oeic can be held tax-free in a personal equity plan, and can take in as much money as investors are willing to subscribe. It is controlled by a director or directors, rather than trustees, and will usually not be quoted on the stock market. Experts expect up to 300 existing unit trusts to be converted into Oeics over the next two years.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Here comes the on-line overdraft
Article Abstract:
The UK banking industry is set to see significant changes as banks and building societies begin to offer Internet banking services. Concerns about security of financial transactions via the Internet have now been overcome, and it is likely that all High Street financial institutions will be operating on the Internet by 1999. The main attraction of the Internet for banks and building societies is that it allows them to greatly reduce their transaction costs. However, some could move into a loss, as they are already operating on very small margins.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Comment about this article or add new information about this topic:
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