OEIC

An open-ended investment company (OEIC) is a type of investment fund domiciled in the United Kingdom that is structured as a company in its own right to invest in stocks and other securities. OEIC shares do not trade on the London Stock Exchange. 

OEICs are called "open-ended" because they can create new shares to meet investor demand. Also, the fund will cancel the shares of investors who exit the fund. OEICs are regulated by the Financial Conduct Authority (FCA), which means services such as the Financial Ombudsman are available to investors if problems arise.