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What (who) is unit trust - definition
unit trust
¦ noun Brit. a trust managing a portfolio of stock exchange securities, in which small investors can buy units.
unit trust
(unit trusts)
A unit trust is an organization which invests money in many different types of business and which offers units for sale to the public as an investment. You can also refer to an investment of this type as a unit trust. (BRIT BUSINESS; in AM, use mutual fund
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Unit Trust Corporation
The Trinidad and Tobago Unit Trust Corporation (UTC) is a mutual fund company based in Port of Spain, Trinidad and Tobago. Founded in 1981 through an Act of Parliament, the company describes itself as "the leading mutual fund company in the Caribbean".
Examples of use of unit trust
1. For unit trust investors, there is no recourse if their fund management company refuses to divulge.
2. "Other options include taking out an Isa (up to 7,000 a year) and unit trust funds for either growth or income.
3. Now the Bihar government, in association with the unit trust of India, has started a micro–pension programme for them," Kumar said.
4. Investors in Progressive Growth Unit Trust, a split capital fund managed by Aberdeen Asset Management, were paid out in full under a separate compensation arrangement.
5. Britannic has focused on two core businesses, asset management and unit trust products, following a profits warning in 2003 and a business shake–up.