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 the income they produce can fall as well as rise. You may get back less than you invested.
Tax treatment varies according to individual circumstances and is subject to change.