How do i start a Open-Ended Investment Company (OEIC) like Terry Smith (Fundsmith Equity)

[leungf]

Hi

I have an idea for starting a investment fund, a Open-Ended Investment Company (OEIC), much like Terry Smith's Fundsmith Equity.

The problem is I have no idea how to start and I have no experience in Financial services, with my background being in IT.

Can anyone give me any pointers please?

Many thanks!

Frank

 

[fisicx]

Start here:

Authorisation

Authorisation Most firms providing financial services need to be authorised by us or registered with us. Find out how to apply, get support if you're newly authorised, and view other tasks for authorised firms.

www.fca.org.uk

 

[Michael Loveridge]

I'm sorry to be blunt, but you haven't the slightest hope of doing this, so I wouldn't waste any more time on it. The financial services / investment sector is one of the most highly regulated there is, and setting up an OEIC from scratch would be a massive undertaking. You would also have to hire very highly paid and duly authorised people to run it for you, and you'd be looking at millions of pounds simply to get it up and running.

If you're serious about getting involved in OEIC's then I'd suggest you get yourself employed by one of the companies offering them and see how they operate. If you turn out to be good at it then you might, after proving your investment expertise to others, be able to gather a team to set up a new business, but it would take years to establish that level of credibility.