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Open-Ended Investment Company funds

What are Open-Ended Investment Company funds?

Open-Ended Investment Company (OEIC) funds let you pool your money with other investors, giving you access to a wider range of assets that might be hard or expensive to buy on your own. A fund manager looks after the pooled money and invests it across different assets like shares, bonds and property.

The OEIC funds are operated by Waystone Management (UK) Limited, who are legally responsible for all servicing and administration of the funds.

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How do OEIC funds work?

First, choose where to invest. We offer 10 different funds, each with its own level of risk, potential return and charges.

You can invest in just one fund or combine several to suit your goals and how much risk you’re comfortable with. Switching between funds is free and easy whenever you like. If this changes in the future, we’ll let you know.

Most of our funds invest across a range of assets to try to limit your exposure to the ups and downs of investing in one type of asset. This is known as multi-asset investing or diversification. For example, if the value of stocks and shares falls, bonds could potentially provide returns. You can learn more about different assets and their risk levels by visiting our balancing investment risk and reward page.

Once you’ve chosen your funds, you’ll need to decide how much to invest

OEIC funds are flexible. You can:

  • start from £50 a month or make an initial lump sum payment of £500 or more. 
  • make free withdrawals of £250 or more at any time (but this may affect how much you get back on your overall investment.)
  • top up with a minimum lump sum of £250 or 
  • top up by increasing your monthly payment in multiples of £5.

Things to consider when choosing OEIC funds

  • Investments can go down as well as up, so you might get back less than you put in.
  • If you take any income or make withdrawals from the fund and this is more than any overall growth achieved, the value of your investment will reduce below the level of the amount of capital you originally invest.
  • You need to be comfortable making investment decisions and balancing the level of risk you are willing to take with the potential for growth.
  • We’re not recommending one option over another and haven’t given advice on this investment. If you’re unsure, speak to a financial adviser as we can’t give advice.

Why invest in OEIC funds?

Growth potential

There’s potential for long-term growth, income, or a mixture of both.

Medium to long-term investing

They’re designed for medium to long-term investing (5 to 10 years or more), but you can still access your money if you need to.

OEIC funds you can invest in

Below is a list of the OEIC funds available to invest in. 

  • Find out more about the investment objectives, performance (if available) and the charges for each fund in the relevant links. 
  • Before making your investment decision, please read, download and save the Key Investor Information Documents for each fund. 
  • The Annual Reports and Financial Statements for these funds can be found here
  • These OEIC funds are operated by Waystone Management (UK) Limited who are legally responsible for all servicing and administration of the funds.

We're not recommending one option over another, or providing advice. If you’re unsure about which fund to invest in you should speak to your financial adviser.

The value of your investment can go down as well as up so you might not get back the amount you put in. If you take more money from the plan than the amount your investment has grown by, the value of your investment will be less than you’ve put in.

Tax benefits and considerations

OEIC funds offer some tax advantages:

  • No Capital Gains Tax (CGT) is payable on gains made by investments held within the fund. However, CGT may apply when you sell all or part of your investment, and you’ll need to include this in your self-assessment tax return.
  • Income received as dividends may be covered by a dividend tax allowance of £500 per year. 
  • Payments treated as interest are paid gross and savers will benefit from the Personal Savings Allowance. If you’re a basic rate taxpayer, you can earn up to £1,000 of interest tax-free. Higher rate taxpayers can earn up to £500 tax-free, while additional rate of tax payers won't receive a personal savings allowance. 

For more information, see our tax information and allowances page.

You might need to pay tax depending on your circumstances and the options you choose.

Tax rules can change and the impact of taxation and tax relief depends on your circumstances.

Ready to invest?

Before applying, read the Key Investor Information Documents within the accordions above to help you decide if this product is right for you.

If you’re unsure about the suitability or not confident about making a decision, we recommend speaking with a financial adviser.


Once you’ve reviewed the documents, you can apply in one of two ways:

  • By phone: Call us on 0344 335 8936, Monday to Friday, 08:30 – 17:30.
  • By post: Complete the application form and send it to the address provided on the form.

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