Unit Investment Trusts
Whether your goal is long-term growth or current income, a Unit Investment Trust (UIT) may offer you a way to pursue your investment needs. A UIT is a trust that holds a fixed portfolio of securities that are offered in "unit" increments. Investors receive a share of the trust's earned income, if any, and their share of the holdings at the trust's maturity. Unlike a mutual fund, a UIT is created for a specific length of time and is a fixed portfolio, meaning that the UIT's securities will not be sold or new ones bought, except in certain limited situations.
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