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OEIC (ɔɪk) 

Definitions

noun acronym for

  1. open-ended investment company   ⇒ The new pooled investment vehicle - which some believe will eventually replace unit trusts altogether - is the Oeic., From the consumer's point of view, the main difference between an Oeic and a unit trust is that Oiecs are bought and sold at a single price. Unit trusts have a bid-offer spread, which means there is a difference of about 5 per cent between the price at which the fund manager will sell you units and the price at which it will buy them back., Oeics, unlike unit trusts, are prohibited from investing in funds-of-funds, cash funds and derivatives-based funds.

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