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Are unit trusts and OEICs more flexible than investment trusts?
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Because they are open-ended investments, the trust can issue new units in response to demand. This means that unit trusts and OEICs trade at their net asset value (the value of their underlying assets less expenses). Because investment trusts are closed funds, their share prices are moved by market changes and they often trade at a substantial 'discount' to their net asset value.
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