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unit trust
noun
- Also called fixed investment trust, an investment company that has a fixed portfolio of securities, usually of a single type, such as municipal bonds or corporate bonds, which are held to maturity: each investor receives a share in the amount proportionate to their holding.
- Also called u·ni·trust [yoo, -ni-truhst]. an inflexible type of mutual fund in which each investor is obligated to invest a total specified amount in a certain number of shares, payable in equal amounts on a monthly or quarterly basis over an extended period of time.
- British. mutual fund.
unit trust
noun
- an investment trust that issues units for public sale, the holders of which are creditors and not shareholders with their interests represented by a trust company independent of the issuing agency
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Word History and Origins
Origin of unit trust1
First recorded in 1935–40
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