Questions about stamp duty on UTs/OEICs

mroller

I spent a while looking for answers on the web but couldn't find a satisfying answer:

I know we have to pay stamp duty on UTs and Oeics that invest in Shares, but:

- is it paid when the asset manager has to enter the markets (for ex when there are more buyers that sellers of units)?

- is it paid by the investor when he buys units regardless of the fact that the asset manager enters the market or not?

which begs anothers questions: if there are equal numbers of buyers and sellers of an Oeic on one day and the asset manager doesn't have to enter the market, is Stamp duty still payable?

RayWolfe

No, you don't pay SD on UTs/OEICs.
The underlying fund pays ST when it buys shares an it thus becomes part of the cost of the fund and, of course, ultimately paid by us.