Offer price
The price at which you will deal when you buy shares. See share price.
Official List
A list of securities maintained by the UK Listing Authority. The Official List includes all securities that are approved for trading in the UK.
Offshore fund
An investment scheme in which the fund is legally based outside the home country of the person investing in it. A fund might be established offshore for tax reasons or to avoid legal or regulatory restrictions.
Open-ended fund
A fund whose capital, and funds under management, increase or decrease in response to demand from buyers and sellers. The fund can issue new units/shares and redeem them. Unit trusts and open-ended investment companies (OEICs) are open-ended funds. Opposite of a closed-ended fund.
Open-ended investment company (OEIC)
An open-ended fund in the form of a company which issues shares rather than units. In practical terms, similar to a unit trust.
Ordinary income shares
Split capital investment company shares that aim to offer a level of income and prospects for capital growth. They are also sometimes known as highly geared ordinary shares or income and residual capital shares. They have no predetermined capital value but are entitled to all surplus assets after payment of prior charges. Depending on the structure of the trust in which the ordinary income share is issued, their entitlement to income may vary. See structural gearing.
Ordinary shares
The main type of equity capital issued by conventional investment companies.
Investors are therefore entitled to their share of both income in the form of dividends paid by the company and any capital growth.
