OEIC Conversion
In the UK many unit trust managers have converted to open-ended investment companies (OEICs) in recent years. OEICs normally have a single price for purchase and sale, although recent regulatory change now permits dual pricing too, in line with unit trusts.
The motivation for conversion is often cited as a simplification and pre-cursor to offering funds Europe-wide under EU rules.
More cynical observers may have noted that there is increased latitude to hide charges in the OEIC Dilution Adjustment(more commonly referred to as "Swinging Single Price") whilst maintaining the veneer of simplification.
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Famous quotes containing the word conversion:
“The conversion of a savage to Christianity is the conversion of Christianity to savagery.”
—George Bernard Shaw (1856–1950)