u'nit trust"

1. Also called fixed investment trust, fixed trust. an investment company that has a fixed portfolio of securities, usually of a single type, such as municipal bonds or corporate bonds, which are held to maturity: each investor receives a share in the amount proportionate to his or her holding.
2. Also called u•ni•trust Pronunciation: (yOO'ni-trust"). [key]an inflexible type of mutual fund in which each investor is obligated to invest a total specified amount in a certain number of shares, payable in equal amounts on a monthly or quarterly basis over an extended period of time.
3. Brit.See mutual fund. Also called unit investment trust (for defs. 1, 2).

Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.

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