Open ended funds

Unit trusts, OEICs (Open Ended Investment Companies) and UCITS (Undertakings for Collective Investment in Transferable Securities) – let you invest in a wide range of assets but some assets that the regulator thinks are too risky for individual investors aren’t allowed to be held by these schemes and instead are reserved for NURS (Non-UCITS Retail Schemes) and QIS (Qualified Investor Schemes), both of which are subject to stricter rules about who they are allowed to be sold to. This publication from the Investment Management Associationis a bit technical but explains the rules better than we can.