OPEN ENDED INVESTMENT COMPANIES

THE NEXT GENERATION

A Consultation Document by H M Treasury

December 1996

Investors will shortly be able to buy shares in a new investment vehicle - the open ended investment company or oeic for short.

ii In the consultation document the Treasury proposes wider investment powers for oeics. This change would bring the range of investments available to promoters of oeics in line with the investment powers of authorised unit trusts.

iii The Treasury has consulted twice before about oeics and indeed has already raised the issues discussed in this document in general terms. The well informed and enthusiastic responses to both earlier rounds of consultation helped the Treasury develop a robust structure for the UK oeic.

iv The Treasury now looks forward to receiving reactions to this document by 24th January 1997. Details of representations made in response to this consultation document will be disclosed, and the origins of responses identified, unless the information relates to a particular person or business, in which case details can be disclosed in an anonymised form. Authors of responses are therefore invited to identify any such information if they or others wish the information only to be disclosed in this way. 


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