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A unit trust is a form of collective investment constituted under a trust deed. A unit trust pools investors' money into a single fund, which is managed by a fund manager. Unit trusts offer access to a wide range of investments, and depending on the trust, it may invest in securities such as shares, bonds, gilts, [1] and also properties ...
The UTI Mutual Fund was carved out of the erstwhile Unit Trust of India (UTI) as a Securities and Exchange Board of India-registered mutual fund as of 1 February 2003. UTI Mutual Fund was launched by the Government of India in 1963, and it is one of the oldest mutual fund companies in India.
In U.S. financial law, a unit investment trust ( UIT) is an investment product offering a fixed (unmanaged) portfolio of securities having a definite life. Unlike open-end and closed-end investment companies, a UIT has no board of directors. [1] A UIT is registered with the Securities and Exchange Commission under the Investment Company Act of ...
Net asset value. Net asset value ( NAV) is the value of an entity's assets minus the value of its liabilities, often in relation to open-end, mutual funds, hedge funds, and venture capital funds. [1] [2] Shares of such funds registered with the U.S. Securities and Exchange Commission are usually bought and redeemed at their net asset value. [3]
Like mutual funds, each policyholder's Unit-Linked Insurance Plan holds a certain number of fund units, each of which has a net asset value that is declared on a daily basis. The net asset value is the value upon which net rates of return on unit-linked insurance plans are determined.
Investment funds are regulated by the Investment Company Act of 1940, which broadly describes three major types: open-end funds, closed-end funds, and unit investment trusts. Open-end funds called mutual funds and ETFs are common. As of 2019, the top 5 asset managers accounted for 55% of the 19.3 trillion in mutual fund and ETF investments.
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The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds. It was passed as a United States Public Law ( Pub. L. 76–768) on August 22, 1940, and is codified at 15 U.S.C. §§ 80a-1 – 80a-64. Along with the Securities Exchange Act of 1934, the Investment Advisers Act of ...
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