May 16, 2012 1:10am CST
what is the difference between Mutual Fund and UITF ( unit investment trust funds?
• Cambridge, England
16 May 12
A Mutual Fund is a type of professionally-managed collective investment scheme that pools money from many investors to purchase securities. The length of time it is in existence is indefinite and the mix of investments may change during its life in order to preserve a balance of security and return. A Unit Investment Trust is a type of mutual fund with a fixed term and a specified type of investment, the main two types being either stock (equity) trusts or bond (fixed-income) trusts or, sometimes, a mixture of the two. More detailed descriptions, showing the similarities and differences between the two types, can be found here: Mutual Fund: http://en.wikipedia.org/wiki/Mutual_fund Unit Investment Trust: http://en.wikipedia.org/wiki/Unit_Investment_Trust
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