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Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Unit Investment Trust

Definition:

Also called a UIT, a unit investment trust is like a mutual fund, but without the management and with an expiration date.

Like a mutual fund, there are stocks and bonds, and the whole thing can be traded on the secondary market.

The goal of the UIT is usually to create income.