Financial Dictionary.
This is a browseable and searchable reference tool for terminology
relating to UK-based personal finance and financial products.
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Unit Trust
Definition: A common and well-known type of unit linked fund. Unit Trusts can be general or specialised in nature, enabling investors to invest small amounts into specific investment sectors and benefit from professional management of the underlying investments. The Unit Trust is divided into a number of units, each of which represents a small percentage of the underlying investment portfolio, and the value of units can rise and fall in line with the underlying investment value. Unlike closed-end funds, Unit Trusts can issue new units whenever they receive fresh inflows of investor's money. Chargewise, they typically levy an Annual Management Charge, along with a Bid / Offer Spread. Unit Trusts are mainly a UK phenomenon, due to the fact that Trust Law is not recognised in most non-UK jurisdictions. See also OEICs.
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