| 单词 | unit trust |
| 释义 | unit trust unit trust1. In the UK, an investment fund shared by a large number of different investors. A unit trust is an ‘open-ended fund’, which means that the fund gets bigger as more people invest and smaller as people withdraw their money. A fund manager is responsible for the fund and makes the investment decisions. The fund is divided into segments called ‘units’. Investors take a stake in the fund by buying these units, the price of which will vary as the value of the investments the trust has invested in increase or decrease. The Financial Conduct Authority authorizes firms that sell unit trusts, most of which belong to the Investment Management Association (IMA). Investors should always look carefully at the charges associated with unit trusts. Basic-rate tax is deducted from the dividends paid by unit trusts and capital gains on the sale of a holding are subject to capital gains tax. In the USA unit trusts are called mutual funds. univariate statisticsSeedescriptive statistics. universal banking Banking that involves not only services related to loans and savings (retail or commercial banking) but also trading on financial markets and making investments in companies. Universal banking has traditionally been most common in Germany, Switzerland, and the Netherlands. The Glass–Steagall Act 1933 prohibited universal banking in the USA, but the restrictions placed on it were effectively removed in 1999. In the UK it was largely avoided until the late 1990s, after which there was rapid expansion in the trading activities of leading banks. In the wake of the financial crisis of 2007–08 there have been growing calls for a renewed separation between retail and investment banking. |
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