The difference between the bid price (at which the holder can sell shares) and the offer price (at which the purchaser can buy shares). On occasion this can be quite large and depends on the equity's underlying price, liquidity, volatility and a number of other factors. Many unit trusts also have a bid-offer spread and effectively this amounts to an extra exit charge when the investor sells.
the difference between the prices at which you buy units from us and sell them back to us. The buying (offer) price is usually higher than selling (bid) price and the difference between them may vary within the limits of a formula laid down by the Financial Services Act 1986. Both offer and bid prices are quoted for each of our funds on the Daily Prices page.
The difference between the buying and selling price of an investment such as a share or unit trust. The spread is determined by the cost of transferring ownership of the asset (including things like stamp duty) and market forces.