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.

单词	unit investment trust (UIT)
释义	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.
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