I have the 1st Ethical Guide to Understanding & Calculating Zakah which I downloaded from the internet. For Cash & Liquid investments it says that these are fully subject to Zakah and can be defined as follows:
1. Hilal Cash at Bank and in hand.
2. Conventional Investment bonds.
3. Cash ISAs, TESSAs, PEPs.
4. National Savings (run by Post Office).
5. Any form of investment which can readily be liquidated (excluding equity based investments eg shares, unit trusts, OEICs.
When my wife resigned from work she collected her pension and invested it in the Oasis Crescent Equity Fund. Based on point 5 above (provided it is authentic) and the fact that she does not work nor does she draw money from this investment does it follow that she is not liable to pay Zakah on this.
Also, if a person inherited money and invested it in Oasis Unit trusts is he liable to pay Zakah on this. In this case the person will have to draw money from the investment to pay the zakah.