Open-ended investment company: Difference between revisions
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The [[Oeic]] (also known, misleadingly, as the “St. Hellier [[espievie]]”) is an animal long rumoured to inhabit the [[Guernsey]] scrublands, but which had never been verified before its discovery by maverick Jersey naturalist [[Ichabod Mourant]] in the 1950s. Subsequent examination revealed the [[Oeic]] to be genetically identical to the Cayman [[espievie]], and debate rages to this day as to how it crossed the nearly 5,000 miles of open Atlantic ocean between its two habitats. | |||
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Probably the jet stream, trade winds or a similar [[force majeure]] event. | |||
[[Oeic]]s | Since their discovery [[Oeic]]s have been successfully domesticated and today are most commonly encountered as [[open-ended investment company|open-ended investment companies]] — [[investment vehicle]]s designed to handle collective investment in transferable securities. | ||
[[OEIC]]s quote a single price rather than a [[bid]] and [[offer]] price and they are governed by [[company law]] rather than [[trust]] law. Most new open-ended funds launched today are established as [[OEIC]]s and it is expected that, over time, most [[unit trust]]s will convert to [[OEIC]]s. | |||
Revision as of 10:36, 31 October 2017
The Oeic (also known, misleadingly, as the “St. Hellier espievie”) is an animal long rumoured to inhabit the Guernsey scrublands, but which had never been verified before its discovery by maverick Jersey naturalist Ichabod Mourant in the 1950s. Subsequent examination revealed the Oeic to be genetically identical to the Cayman espievie, and debate rages to this day as to how it crossed the nearly 5,000 miles of open Atlantic ocean between its two habitats.
Probably the jet stream, trade winds or a similar force majeure event.
Since their discovery Oeics have been successfully domesticated and today are most commonly encountered as open-ended investment companies — investment vehicles designed to handle collective investment in transferable securities.
OEICs quote a single price rather than a bid and offer price and they are governed by company law rather than trust law. Most new open-ended funds launched today are established as OEICs and it is expected that, over time, most unit trusts will convert to OEICs.