A type of collective investment scheme structured as a company in which investors can buy and sell shares. The price of the shares is based on the value of the investments the company has invested in.

An open-ended fund in the form of a company which issues shares rather than units. In practical terms, similar to a unit trust.

An OEIC is an investment fund which is listed at a single price but with the ability to issue or redeem shares to match demand, like a unit trust.

Formal name for a mutual fund, indicating that it continuously offers new shares to investors and redeems shares on demand.

A collective fund similar to a unit trust but which has a single price and issues shares rather than units.

An investment company that works in a similar way to a unit trust except that an OEIC is a limited company. Most OEICS operate as umbrella funds, where the OEIC is authorised and can then set up multiple sub-funds without the need for individual authorisation of each sub-fund.

An investment company fund set to replace unit trusts. The main differences are that they quote a single price rather than a bid/offer spread and have a company structure like investment trusts.