follow Dictionary.com

Why turkey has the same name as Turkey

unit trust

noun
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 unitrust
[yoo-ni-truhst] /ˈyu nɪˌtrʌst/ (Show IPA)
. 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.
British, mutual fund.
Also called unit investment trust (for defs 1, 2).
Origin
1935-1940
1935-40
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source
Examples from the web for unitrust
  • unitrust amount determined by net income with make-up method.
  • unitrust payments for charitable purposes are permitted but not required.
  • The annuity and unitrust requirements are not, however, conducive to the transfer of a residence.
British Dictionary definitions for unitrust

unit trust

noun
1.
(Brit) an investment trust that issues units for public sale, the holders of which are creditors and not shareholders with their interests represented by a trust company independent of the issuing agency
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cite This Source

Word of the Day

Word Value for unitrust

0
11
Scrabble Words With Friends