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Investor Information


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What is an OEIC? An Open Ended Investment Company (“OEIC”) is a collective investment vehicle, which is broadly similar to a unit trust, in that it is a diversified collective investment vehicle, but it differs in some important respects. One similarity is that it is ‘open-ended’ in that it can expand or contract the number of shares in issue in response to demand from investors, unlike investment trusts.

One of the main advantages of OEICs is that each sub fund can offer different classes of shares (each with different subscription requirements and charges) to suit a range of your investment needs.
What are the benefits of investing in OEICs as opposed to buying shares in single companies? As the sub funds invest in a number of different companies the risks associated with investing in individual stocks and shares are reduced. Also, the more companies the fund invests in, the less each company's individual performance affects the fund.

OEICs are single priced (ie they have no bid/offer spread) making it simpler to value your investment.
What is the recommended timeframe for an OEIC investment? An OEIC should be considered as a medium to long term investment and at least three to five years is usually recommended. However, there is no minimum period that you must hold your investment.
What are the risks? Any stock market investment involves risk. Some of these risks are general, which means that they apply to all investments. Others are specific, which means that they apply to individual funds. Before you decide to invest, it is important to understand these risks. Read the respective Key Investor Information Documents (KIID) which gives more detail on the risk factors to consider when investing in these funds. The KIIDs for MI Chelverton European Select Fund can be accessed from the How to Invest tab
How do I invest in the MI Chelverton European Select Fund? All the information you need can be found on the How to invest tab.
How do I find the daily share price? You can call the Maitland Services Team on 0345 305 4217, from Monday to Friday between 9am and 5.30pm. The most recent prices and estimated distribution yield are available on the Investment Management Association ( and from Financial Express ( Details relating to the net asset value of the Fund may be obtained from Maitland Group, the ACD, on 0345 305 4217.
When are the daily prices available? We calculate the prices of our OEICs daily, at the midday valuation point. The prices will be available at around 2.30pm that day, once all the valuations of the underlying stocks are calculated.
Will I receive a certificate for my investment? The Chelverton OEIC is non-certificated. This means that we do not issue you with a certificate and proof of ownership is held on a register. Instead, you will receive a contract note for each deal you place. If your application is for a regular savings plan, either unit trust or ISA, we will send you a letter confirming that we have set up your direct debit and when we will commence monthly collections from your bank. A valuation statement detailing your monthly transactions will be sent to you twice a year.
Can I switch my share holding into an ISA? Yes you can. If you want to switch, you need to send us written instructions together with a completed ISA application form. Once we have the correct documentation, your share holding will be sold at the next available price and the proceeds reinvested in your chosen fund within the ISA. If you wish to hold the same fund in the ISA, your investment will be made at the prevailing offer (purchase) price, less the full initial charge.