Finance Glossary Definition (English)
Unit Investment Trust Defined
The following is in context to Finance, because it's common for a single word to have multiple meanings you will find additional research links near the bottom of the page.
"A mutual fund of a fixed number (20 to 30) of different issues in a portfolio placed in a trust. Units or shares are sold in the trust and each unit receives a proportionate amount of the tax-exempt interest earned by the bonds. As the bonds mature or are called, principal is returned to the investor. Unit investment trusts, unlike other mutual funds, have a finite life."
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Additional Unit Investment Trust Definition Starting Points
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Expert Dictionary: Unit Investment Trust
Dictionary: Unit Investment Trust
