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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, mortgage and cash equivalents
1,422 (2024) Website. www.utimf.com. 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 on 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.
For the UK fund types, see Unit trust and Investment trust. 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 ...
Open-end fund. Open-end fund (or open-ended fund) is a collective investment scheme that can issue and redeem shares at any time. An investor will generally purchase shares in the fund directly from the fund itself, rather than from the existing shareholders. The term contrasts with a closed-end fund, which typically issues at the outset all ...
All trusts except REITs and royalty trusts were given 3 years to find an exit strategy: to either keep the current structure at higher tax rates, or convert (back) to a public company. As unit prices started to collapse, the majority dropped the trust structure.
Most unit trusts are dual priced. Single priced vehicles notionally have a single price for units/shares and this price is the same if buying or selling. As single prices vehicle cannot adjust the difference between the buying and selling price to adjust for market conditions, another mechanism, the dilution levy exists. SICAVs, OEICs and U.S ...
The trust was relaunched as the M&G General Trust and later renamed as the Blue Chip Fund. [6] M&G Investments introduced its savings or "thrift" plans in 1954. [7] In March 1999 M&G Investments, which by then was the UK's largest unit trust group, was acquired by Prudential plc. [8]
Primarily aimed at private equity–type structures with a General Partner ("GP")/Limited Partner ("LP") system; dates from the 1994 Investment Limited Partnerships Act; like a unit trust or CCF, the ILP is a contract and not a separate legal identity; the ICAV is more popular for private equity funds in Ireland. [29]