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WordReference Random House Unabridged Dictionary of American English © 2024u′nit trust′, - Stock Exchange, BusinessAlso called fixed investment trust, fixed 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 his or her holding.
Also called u•ni•trust (yo̅o̅′ni trust′).USA pronunciation 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.- Stock Exchange, British Terms, Business[Brit.]See mutual fund. Also called unit investment trust (for defs. 1, 2).
Collins Concise English Dictionary © HarperCollins Publishers:: unit trust n - Brit 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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