unit trust
1. In the UK, an investment fund shared by a large number of different investors. A unit trust is an ‘open-ended fund’, which means that the fund gets bigger as more people invest and smaller as people withdraw their money. A fund manager is responsible for the fund and makes the investment decisions. The fund is divided into segments called ‘units’. Investors take a stake in the fund by buying these units, the price of which will vary as the value of the investments the trust has invested in increase or decrease. The ... ...
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