Blind trust
Definition
A trust in which a fiduciary third party has total discretion to make investments on behalf of a beneficiary while the beneficiary is uninformed about the holdings of the trust.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Managing underwriter
The leading firm in an underwriting group, which originates the deal and acts as an agent for the group.
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