Compare investment trusts and OEICs - J.P. Morgan Asset Management
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Compare investment trusts and OEICs

The table below highlights some of the differences between OEIC funds and investment trusts:

Key differences between investment trusts and OEICs
  Investment trust OEIC fund
Legal structure
Public limited company Investment company: hold shares of other companies purely for investment purposes. It invests money on behalf of its shareholders who in turn share in the profits and losses
Where based
UK/overseas (depending on the investment trust) UK
Type of holding
Listed share - a share that is traded on a particular stock market Unlisted share - a share that is not listed on a particular stock market
Investment structure
Closed-ended Open-ended
Pricing
Because they are listed on regulated stock exchanges dealing prices are subject to a 'bid-offer spread'. This is the difference between the price at which shares can be sold and bought and can change throughout the day. Usually have a single price, on a given day, associated with the share whether buying or selling.
Typical product costs

Ongoing annual charges applies. Please refer to the individual trust via our Fund Explorer >

0.5% UK stamp duty applies on the purchase of investment trust shares. The Panel of Takeover and Mergers (PTM) levy of £1 per purchase also applies for investment trust share purchases greater than £10,000.

Ongoing annual charges applies. Please refer to the individual fund via our Fund Explorer >
Typical account costs

No initial charge if purchased via J.P. Morgan. Annual account charge applies to investment trusts held in the J.P. Morgan ISA account. Other charges apply.

Please see the Key Features and Terms and Conditions for the J.P. Morgan ISA and Investment Account.

No initial charge if purchased via J.P. Morgan. Other charges apply.

Please see the Key Features and Terms and Conditions for the J.P. Morgan ISA and Investment Account.

Gearing (borrowing) limits of fund

Level of gearing decided by board and portfolio manager and limited by company objectives

See Key Information Document (KID) for more details >

Usually don’t use gearing - see Key Investor Information Document (KIID) for more details