Unit investment trust

Definition:

Money invested in a portfolio whose composition is fixed for the life of the fund. Shares in a unit trust are called redeemable trust certificates, and they are sold at a premium to net asset value.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Official settlements balance (overall balance)

An overall measurement of a country's private financial and economic transactions with the rest of the world.

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