November 2013
Beginner
368 pages
10h 31m
English
book
The Handbook of Professionally Managed Assets: A Definitive Guide to Profiting from Pooled Investments
by Keith R. Fevurly
Content preview from The Handbook of Professionally Managed Assets: A Definitive Guide to Profiting from Pooled Investments
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Unit Investment Trusts
The number of unit investment trusts (UITs) has decreased by over 55% from 1995 to 2012.1 In 2012, there were a total of 5,787 UITs with assets of $72 billion—paltry in comparison with assets of over $13 trillion in mutual funds, $1.3 trillion in exchange-traded funds (ETFs), and $265 billion in closed-end funds (CEFs). Yet UITs were formerly among the most important of PMAs and even today are appropriate for some investors—particularly retiree investors.
What Is a Unit Investment Trust?
A UIT is a hybrid type of PMA combining some characteristics of mutual funds (Chapters 3–5) and CEFs (Chapter 6). Similarly to mutual ...
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