ICVC Vs OEIC - what is the difference?

Newbie2saving

Hi all,

I have a H-L Vantage ISA and I'm about to add another few funds to it with 'old' ISA cash maturing next week. The ISA is long term investement and I am looking at exposure to emerging markets. I would like a Latin American fund and initially ear marked Neptune Latin America, however during my research I favour Invesco Perp Latin America. Now the latter is a ICVC rather than an OEIC as listed on the H-L website, so what is the difference (if any!!!)? I want to fully understand this before investing!

TIA

yelf

Nonr -just different names

Loughton_Monkey

An ICVC or Investment Company with Variable Capital is a type of open-ended collective investment formed as a corporation under the Open-Ended Investment Companies Regulations of the United Kingdom. They are also known as OEICs (pronounced oik) from these regulations. The terms ICVC and OEIC are used interchangeably with different investment managers favouring one over the other. In the UK ICVCs are the preferred legal form of new open-ended investment over the older unit trust.

Wikipedia

Newbie2saving

Loughton_Monkey wrote: »

An ICVC or Investment Company with Variable Capital is a type of open-ended collective investment formed as a corporation under the Open-Ended Investment Companies Regulations of the United Kingdom. They are also known as OEICs (pronounced oik) from these regulations. The terms ICVC and OEIC are used interchangeably with different investment managers favouring one over the other. In the UK ICVCs are the preferred legal form of new open-ended investment over the older unit trust.

Wikipedia

Thanks Loughton Monkey. Shows I should do my own google research first, thanks for going to the trouble and eases my mind that the ICVC is what I was looking for!