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Glossary

Open-end Funds

An open-end fund, or open-ended fund, is a collective investment scheme, more commonly known in the UK as either an OEIC (open-ended investment company) or unit trust.

Investors can buy shares in an open-ended fund direct from the fund provider or via an investment platform or broker. The fund will invest in a group of securities, including but not limited to stocks, bonds and property.

The price at which an investor can purchase shares in a fund will be determined by its Net Asset Value (NAV).

An ETF is a type of open-ended fund that is traded on an exchange and can therefore be bought at a premium or discount to its NAV depending on the current market price of the fund.

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