Unit investment trust

A unit investment trust (UIT) is an investment company that offers a fixed portfolio, generally of stocks and bonds, as redeemable units to investors for a specific period of time. It is designed to provide capital appreciation and/or dividend income. Unit investment trusts, along with mutual funds and closed-end funds, are defined as investment companies—Read more at Investopedia. Chen, James. “Unit Investment Trust (UIT).” 30 July 2019