unit investment trust (UIT)
Definition
Type of the US investment company that invests in a fixed portfolio of securities which are resold to investors through brokers as redeemable certificates (representing undivided interest) called units. This arrangement allow unit-holders to build a diversified portfolio at a cheaper price, and to receive income in proportion to their individual investments. It is basically a closed end mutual fund, and expires either on a fixed date or (in the case of bonds) on the security's maturity date.
unit investment trust (UIT) is in the Banking, Commerce & Finance, Investing and Securities & Futures Trading subjects.
unit investment trust (UIT) appears in the definitions of the following terms: mutual fund, investment company, closed-end mutual fund and diamonds
This content can be found on the following page:
http://www.businessdictionary.com/definition/unit-investment-trust-UIT.html
email to a friend print this definition cite this definition