Fund legislation enters phase two

It is now almost four years since the first round of Oeics legislation was approved by Parliament. At that time, the plan was for a second round to follow almost immediately to allow the full range of Oeics. Round two was delayed and there was some scepticism among commentators about whether a more limited range of Oeics would take off. The figures speak for themselves: Oeic funds now account for almost one quarter of the industry total and have doubled in the last 12 months. And with the second stage of legislation now back on track, these numbers are likely to keep growing. The backgrou...