This is a collective investment scheme that does not have authorisation from the FCA. As such it is not illegal but is subject to constraints on how, and how widely, it markets itself to investors. READ MORE

Unit trusts are open ended investment vehicles set up to make money on behalf of investors. The term open ended refers to the fact that they can grow and contract as demand for units either expands, or contracts. So for example if a client wants to buy units in a fund, the fund can create …

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Investment banks can earn fees not just from advising on the timing, pricing and marketing of a new share issue but also from underwriting the whole thing. When a firm first comes to market via an IPO for example there is always a chance that the investing public will not want to buy all the …

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