Types
A UIT portfolio may contain one of several different types of securities. The two main types are stock (equity) trusts and bond (fixed-income) trusts.
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 (for instance, when a company is filing for bankruptcy or the sale is required due to a merger).
Read more about this topic: Unit Investment Trust
Famous quotes containing the word types:
“As for types like my own, obscurely motivated by the conviction that our existence was worthless if we didn’t make a turning point of it, we were assigned to the humanities, to poetry, philosophy, painting—the nursery games of humankind, which had to be left behind when the age of science began. The humanities would be called upon to choose a wallpaper for the crypt, as the end drew near.”
—Saul Bellow (b. 1915)
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—Henry Brooks Adams (1838–1918)
“He’s one of those know-it-all types that, if you flatter the wig off him, he chatter like a goony bird at mating time.”
—Michael Blankfort. Lewis Milestone. Johnson (Reginald Gardner)