What Is An OEIC?
Open-Ended Investment Companies are the modern day equivalent of the unit trust. From an investor's perspective they are very similar to unit trusts. The main difference is that OEICS normally have a single price for buyers and sellers and the charges are shown separately. A unit trust will often have a separate buying and selling price which is referred to as the bid/offer spread.
THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.