Definitions for "Unit Investment Trust"
A portfolio of securities held in trust. Units in the trust are sold to investors who receive a share of interest payments and a share of the principal, as the securities in the portfolio mature or are called.
An SEC- registered investment company which purchases a fixed, unmanaged portfolio of income-producing securities and then sells shares in the trust to investors. also called fixed investment trust or participating trust. see also municipal investment trust, investment trust, investment, trust, SPDR.
A type of investment company that invests in bonds or debt securities that have redeemable interests.