Unit Investment Trust. An SEC-registered investment company which purchases...
Unit Investment Trust. A portfolio of securities held in trust. Units in the trust are sold to investors who receive a share of interest payments and a share of the principal, as the securities in the portfolio mature or are called.
Unit Investment Trust. A type of investment company that typically makes a one-time "public offering" of only a specific, fixed number of units. A uit will terminate and dissolve on a date established when the uit is created (although some may terminate more than fifty years after they are created). Uits do not actively trade their investment portfolios.... read full article
Unit Investment Trust. An investment company that sells redeemable shares in a professionally selected portfolio of securities. It is organized under a trust indenture, not a corporate charter.
Unit investment trust. An investment usually sold by brokers that purchases a fixed, unmanaged portfolio of stocks or other securities, and then sells shares in the trust to investors, usually in units of at least $1,000. Because they are unmanaged, unit investment trusts are somewhat like index funds. However, UITs typically have much higher sales loads and/or annual management fees, so they do not share the low-cost advantage of index funds.
Unit investment trust. An investment company that invests in a professionally selected portfolio of bonds and/or stocks. Unlike a mutual fund, the portfolio's investments are fixed over the life of the trust, are not managed, and have a stated or known maturity. Units of the trust's investment portfolio are sold to investors through financial consultants. Also called a "defined portfolio."
An investment company (registered with the SEC) which purchases a fixed, unmanaged portfolio of income-producing securities, and sells shares in the trust to investors.
Unit Investment Trust. An investment company that buys and holds a fixed number of shares until the trust's termination date. When the trust is dissolved, proceeds are paid to shareholders. A UIT has an unmanaged portfolio. Like a mutual fund, shares of a UIT can be redeemed on any business day.
Unit Investment Trust. A trust, registered with the SEC under the Investment Company Act of 1940, in which a fixed portfolio of income-producing securities are purchased and held to maturity. This type of investment vehicle is commonly used with municipal bonds. Each unit usually costs $1,000 and is sold by brokers to investors for an average load of 4%. Investors receive an undivided interest of the portfolio's principal and income proportionate to the amount they invested. All unit investment trusts are redeemable securities and can be resold in the secondary market. See: Investment Company; Investment Company Act Of 1940; Load; Municipal Bonds; Secondary Market; Unit Share Investment Trust
Unit Investment Trust. 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. UITs have a finite life.
unit investment trust. A collection of securities, similar to a mutual fund, traded on an exchange, such as SPDR.