A type of unit or share that provides the facility for the automatic reinvestment of income earned from the underlying portfolio. The number of Accumulation units does not change as income is reinvested. In the case of UK domiciled funds, income is reinvested on a net (after tax) basis. For funds based in offshore domiciles, reinvestment is normally transacted on a gross basis. The liability of individual investors to tax is determined by their country of residence. Broadly speaking, this type of investment is more suited for longer term investors who are primarily seeking capital growth.
