unit trust Quick reference
A Dictionary of Economics (5 ed.)
...unit trust A UK system by which small investors can benefit from diversified portfolios . Unit trusts sell units to investors, and use the funds to hold a portfolio of securities managed by the trust and held by a bank as trustee . Unit trust shareholdings may be widely spread, or concentrated on a particular sector or country. They may aim at varying combinations of income and capital growth. Investors receive professional management and a diversified portfolio without high transaction costs. They can buy more units or sell their units back to the trust...
unit trust Quick reference
A Dictionary of Accounting (5 ed.)
...firms that sell unit trusts, most of which belong to the Investment Management Association (IMA). Investors should always look carefully at the charges associated with unit trusts. Basic-rate tax is deducted from the dividends paid by unit trusts and capital gains on the sale of a holding are subject to capital gains tax. In the USA unit trusts are called mutual funds . 2. A trust scheme (also called a unit investment trust ) in the USA in which investors purchase redeemable trust certificates . The money so raised is used by the trustees to buy such...
unit trust Quick reference
A Dictionary of Business and Management (6 ed.)
...firms that sell unit trusts, most of which belong to the Investment Management Association (IMA). Investors should always look carefully at the charges associated with unit trusts. Basic-rate tax is deducted from the dividends paid by unit trusts and capital gains on the sale of a holding are subject to capital gains tax. In the USA unit trusts are called mutual funds . 2. A trust scheme (also called a unit investment trust ) in the USA in which investors purchase redeemable trust certificates . The money so raised is used by the trustees to buy such...
unit trust Quick reference
A Dictionary of Law (10 ed.)
... trust A trust enabling small investors to buy interests in a diversity of companies and other investments. These investments are held by trustees (responsible for holding the investments and collecting and distributing income), who enter into a trust deed with the managers of the fund (who select, buy, and sell the investments). The managers sell units to investors, who thus acquire an interest in the fund proportionate to their investment. There is a service charge that provides the remuneration of the managers. Unit trusts are subject to regulation and...
unit trust Quick reference
A Dictionary of Law Enforcement (2 ed.)
... trust A trust enabling small investors to buy interests in a diversity of companies and other investments. These investments are held by trustees (responsible for holding the investments and collecting and distributing income), who enter into a trust deed with the managers of the fund (who select, buy, and sell the investments). The managers sell units to investors, who thus acquire an interest in the fund proportionate to their investment. There is a service charge that provides the remuneration of the managers. Unit trusts are subject to regulation and...
unit trust Quick reference
World Encyclopedia
... trust ( mutual fund ) Pooled form of investment, usually in the form of a portfolio of shares. The trust chooses and manages, through fund managers, a diverse range of securities. See also stock...
unit trust (UK) Reference library
The Handbook of International Financial Terms
... back-end load ). The units are not tradable on the securities markets, rather they are bought from, and sold back to, the fund . The terms under which this is effected, the fees chargeable, together with restrictions on assets that can be bought, are regulated in the UK by the Department of Trade and Industry ( DTI ). DTI regulated unit trusts are known as authorized , which means the units can be marketed to the general public and the trust enjoys certain tax advantages ( cf. load ; net asset value ). Unauthorized unit trusts can invest in a full...
unit trust Quick reference
A Dictionary of Finance and Banking (6 ed.)
...that sell units, most of which belong to the Investment Management Association ( IMA ). Prices of unit trusts are quoted daily, the difference between the bid and offer prices providing a margin for the management costs and the costs of buying and selling. Many trusts are now available, specializing in various sectors of the market and catering for both those seeking growth and those seeking income. Investors should always look carefully at the charges associated with unit trusts. Basic-rate tax is deducted from the dividends paid by unit trusts and capital...
gilt unit trust Quick reference
A Dictionary of Business and Management (6 ed.)
...unit trust A unit trust that invests in gilt-edged securities ...
gilt unit trust Quick reference
A Dictionary of Finance and Banking (6 ed.)
...unit trust A unit trust that invests in gilt-edged securities ...
exempt unit trust (UK) Reference library
The Handbook of International Financial Terms
...unit trust (UK) . Special kind of unit trust whose units are only available to non-taxpaying institutions. Such trusts are exempt from...
exempt unit trust Quick reference
A Dictionary of Business and Management (6 ed.)
...unit trust A unit trust in which only institutional investors who are not subject to taxation are allowed to invest, i.e. it is restricted to charities and pension...
exempt unit trust Quick reference
A Dictionary of Finance and Banking (6 ed.)
...unit trust A unit trust in which only institutional investors who are not subject to taxation are allowed to invest, i.e. it is restricted to charities and pension...
unit investment trust (USA) Reference library
The Handbook of International Financial Terms
... investment trust (USA) . A fixed investment fund where the proceeds of the sale of units are used to purchase underlying securities which are held for the life of the trust. It has no flexibility to adjust the portfolio as would a mutual fund and the income and capital are passed back to investors as they are...
commodity trust unit (USA) Reference library
The Handbook of International Financial Terms
...trust unit (USA) . Exchange-traded securities allowing the holders to have direct exposure to commodities through indirect ownership over a longer time-frame than would be available through commodity futures ...
money-market unit trust Quick reference
A Dictionary of Business and Management (6 ed.)
...unit trust ( cash unit trust ) A unit trust that invests in money-market instruments in order to provide investors with a risk-free...
money-market unit trust Quick reference
A Dictionary of Finance and Banking (6 ed.)
...unit trust ( cash unit trust ) A unit trust that invests in money-market instruments in order to provide investors with a risk-free...
unit share investment trust (USA) Reference library
The Handbook of International Financial Terms
... share investment trust ( USIT ) (USA) . The issuing entity for prescribed right to income and maximum equity and special claim on residual equity (cf. Americus trust...
Life Assurance and Unit Trust Regulatory Organization Quick reference
A Dictionary of Economics (5 ed.)
...Life Assurance and Unit Trust Regulatory Organization ( LAUTRO ) A UK self-regulating organization responsible for regulating organizations offering life assurance and unit trusts as principals. This function is now a responsibility of the Financial Conduct Authority...
Life Assurance and Unit Trust Regulatory Organization (UK) Reference library
The Handbook of International Financial Terms
...Assurance and Unit Trust Regulatory Organization ( LAUTRO ) (UK) . A self-regulating organization responsible for the conduct of practitioners in the life assurance and unit trust industries, and accountable for ensuring adherence to its rule book to the Securities and Investments Board . Now part of the Personal Investment Authority...
